Unit Co. (NYSE:UNT) – US Capital Advisors lowered their Q3 2019 EPS estimates for shares of Unit in a research note issued on Wednesday, October 16th. US Capital Advisors analyst C. Horwitz now forecasts that the oil and gas company will post earnings of ($0.25) per share for the quarter, down from their prior estimate of $0.02. US Capital Advisors also issued estimates for Unit’s Q4 2019 earnings at ($0.16) EPS, FY2019 earnings at ($0.57) EPS, Q1 2020 earnings at ($0.14) EPS, Q2 2020 earnings at ($0.14) EPS, Q3 2020 earnings at ($0.15) EPS, Q4 2020 earnings at ($0.16) EPS, FY2020 earnings at ($0.59) EPS, Q1 2021 earnings at ($0.19) EPS, Q2 2021 earnings at ($0.20) EPS, Q3 2021 earnings at ($0.21) EPS and FY2021 earnings at ($0.83) EPS.
Other research analysts have also recently issued research reports about the stock. Raymond James set a $14.00 price objective on shares of Unit and gave the company a “buy” rating in a report on Wednesday, August 7th. Zacks Investment Research cut shares of Unit from a “hold” rating to a “strong sell” rating in a report on Saturday. Finally, ValuEngine raised shares of Unit from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $19.00.
Unit (NYSE:UNT) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.29). Unit had a negative net margin of 8.99% and a positive return on equity of 1.31%. The firm had revenue of $165.20 million during the quarter, compared to analysts’ expectations of $185.61 million. During the same period in the previous year, the firm posted $0.21 EPS. The firm’s quarterly revenue was down 18.7% on a year-over-year basis.
In related news, EVP Frank Q. Young bought 10,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average price of $2.74 per share, with a total value of $27,400.00. Following the completion of the purchase, the executive vice president now directly owns 103,848 shares of the company’s stock, valued at $284,543.52. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.16% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in Unit by 4,726.8% during the second quarter. Tower Research Capital LLC TRC now owns 5,406 shares of the oil and gas company’s stock worth $48,000 after acquiring an additional 5,294 shares during the last quarter. Quantamental Technologies LLC boosted its position in Unit by 249.1% during the second quarter. Quantamental Technologies LLC now owns 5,606 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 4,000 shares during the last quarter. Magnus Financial Group LLC acquired a new position in Unit during the second quarter worth about $99,000. Elkfork Partners LLC boosted its position in Unit by 30.1% during the second quarter. Elkfork Partners LLC now owns 13,596 shares of the oil and gas company’s stock worth $121,000 after acquiring an additional 3,146 shares during the last quarter. Finally, Alambic Investment Management L.P. acquired a new position in Unit during the second quarter worth about $129,000. 86.52% of the stock is owned by institutional investors and hedge funds.
Unit Company Profile
Unit Corporation, together with its subsidiaries, engages in the exploration, acquisition, development, and production of oil and natural gas properties in the United States. It operates through three segments: Oil and Natural Gas, Contract Drilling, and Mid-Stream. The Oil and Natural Gas segment explores for, acquires, develops, and produces oil and natural gas properties.
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