Unit Co. to Post FY2017 Earnings of $0.77 Per Share, Capital One Financial Corp. Forecasts (UNT)
Unit Co. (NYSE:UNT) – Investment analysts at Capital One Financial Corp. reduced their FY2017 EPS estimates for shares of Unit in a note issued to investors on Tuesday. Capital One Financial Corp. analyst B. Velie now expects that the oil and gas company will post earnings of $0.77 per share for the year, down from their previous estimate of $1.06. Capital One Financial Corp. also issued estimates for Unit’s FY2018 earnings at $1.08 EPS.
Unit (NYSE:UNT) last issued its quarterly earnings data on Thursday, May 4th. The oil and gas company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.23 by $0.08. Unit had a negative return on equity of 2.61% and a negative net margin of 74.42%. The business had revenue of $175.70 million during the quarter, compared to analyst estimates of $177.58 million. During the same quarter last year, the firm earned ($0.41) EPS. Unit’s revenue for the quarter was up 29.0% compared to the same quarter last year. TRADEMARK VIOLATION NOTICE: This report was reported by American Banking News and is owned by of American Banking News. If you are viewing this report on another site, it was copied illegally and republished in violation of United States and international copyright legislation. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/05/18/unit-co-to-post-fy2017-earnings-of-0-77-per-share-capital-one-financial-corp-forecasts-unt.html.
UNT has been the subject of several other research reports. Zacks Investment Research upgraded shares of Unit from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Thursday, February 9th. Scotiabank set a $29.00 price objective on shares of Unit and gave the company a “hold” rating in a report on Monday, March 27th. KLR Group raised shares of Unit from a “reduce” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Friday, May 5th. Finally, National Securities reaffirmed a “buy” rating and set a $30.00 price objective on shares of Unit in a report on Monday, May 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $26.20.
Shares of Unit (NYSE:UNT) opened at 19.09 on Thursday. The firm’s market cap is $1.01 billion. Unit has a 52 week low of $11.06 and a 52 week high of $30.63. The firm has a 50-day moving average of $21.69 and a 200 day moving average of $23.82.
A number of large investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. acquired a new stake in Unit during the first quarter valued at approximately $106,000. State of Alaska Department of Revenue increased its stake in Unit by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 5,700 shares of the oil and gas company’s stock valued at $137,000 after buying an additional 130 shares during the period. Acrospire Investment Management LLC increased its stake in Unit by 19.4% in the first quarter. Acrospire Investment Management LLC now owns 6,777 shares of the oil and gas company’s stock valued at $164,000 after buying an additional 1,100 shares during the period. Jane Street Group LLC acquired a new stake in Unit during the first quarter valued at approximately $200,000. Finally, Laurion Capital Management LP acquired a new stake in Unit during the first quarter valued at approximately $205,000. 95.56% of the stock is currently owned by institutional investors and hedge funds.
Unit Corporation is an oil and natural gas contract drilling company. The Company has operations in the exploration and production and mid-stream areas. The Company operates through three segments: Oil and Natural Gas, Contract Drilling and Mid-Stream. It is primarily engaged in the exploration, development, acquisition, and production of oil and natural gas properties, the land contract drilling of natural gas and oil wells, and the buying, selling, gathering, processing and treating of natural gas.
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