Unit Corp. Now Covered by Canaccord Genuity (UNT)
Equities research analysts at Canaccord Genuity assumed coverage on shares of Unit Corp. (NYSE:UNT) in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set a “hold” rating on the stock.
The analysts wrote, “UNT’s integrated approach in three business lines should continue to serve it well. Its strategic shift to greater higher-margin oil and NGLs in its E&P segment is working well. However, its large presence in land drilling could remain challenged through 2015. This could be a modest drag on future earnings.”
Shares of Unit Corp. (NYSE:UNT) traded up 1.76% on Tuesday, hitting $46.27. 42,513 shares of the company’s stock traded hands. Unit Corp. has a 52 week low of $38.86 and a 52 week high of $49.68. The stock has a 50-day moving average of $45.38 and a 200-day moving average of $44.59. The company has a market cap of $2.272 billion and a P/E ratio of 24.60.
Unit Corp. (NYSE:UNT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.01 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.93 by $0.08. The company had revenue of $340.42 million for the quarter, compared to the consensus estimate of $331.41 million. On average, analysts predict that Unit Corp. will post $3.77 earnings per share for the current fiscal year.
UNT has been the subject of a number of other recent research reports. Analysts at Brean Capital upgraded shares of Unit Corp. from a “hold” rating to a “buy” rating in a research note to investors on Friday, August 9th. They now have a $59.00 price target on the stock. Analysts at BMO Capital Markets raised their price target on shares of Unit Corp. from $40.00 to $45.00 in a research note to investors on Wednesday, August 7th. They now have a “market perform” rating on the stock.
Unit Corporation (NYSE:UNT) is a contract drilling company.
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