SunTrust Banks Brokers Cut Earnings Estimates for Unit Corporation (NYSE:UNT)
Unit Corporation (NYSE:UNT) – Analysts at SunTrust Banks dropped their Q3 2017 earnings estimates for Unit Corporation in a report released on Friday. SunTrust Banks analyst N. Dingmann now anticipates that the oil and gas company will post earnings of $0.10 per share for the quarter, down from their previous forecast of $0.17. SunTrust Banks also issued estimates for Unit Corporation’s Q4 2017 earnings at $0.18 EPS and FY2017 earnings at $0.50 EPS.
Unit Corporation (NYSE:UNT) last posted its earnings results on Thursday, August 3rd. The oil and gas company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. The firm had revenue of $170.58 million during the quarter, compared to the consensus estimate of $178.59 million. Unit Corporation had a return on equity of 2.07% and a net margin of 0.39%. The business’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period last year, the company earned ($0.15) earnings per share.
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Several other brokerages have also issued reports on UNT. KLR Group raised Unit Corporation from a “reduce” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Friday, May 5th. Zacks Investment Research raised Unit Corporation from a “sell” rating to a “hold” rating in a research note on Friday. BidaskClub lowered Unit Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. National Securities reaffirmed a “buy” rating and set a $30.00 price target on shares of Unit Corporation in a research note on Monday, May 8th. Finally, Scotiabank reaffirmed a “hold” rating and set a $26.00 price target on shares of Unit Corporation in a research note on Friday, June 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $25.80.
Unit Corporation (NYSE:UNT) opened at 20.07 on Monday. Unit Corporation has a 52-week low of $12.35 and a 52-week high of $30.63. The firm has a 50-day moving average price of $18.08 and a 200 day moving average price of $21.66. The company’s market capitalization is $1.06 billion.
Large investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Unit Corporation by 23,333.4% in the first quarter. BlackRock Inc. now owns 6,658,614 shares of the oil and gas company’s stock valued at $160,872,000 after buying an additional 6,630,199 shares during the period. Vanguard Group Inc. raised its stake in Unit Corporation by 14.0% in the first quarter. Vanguard Group Inc. now owns 5,917,470 shares of the oil and gas company’s stock worth $142,966,000 after buying an additional 725,459 shares during the period. Dimensional Fund Advisors LP raised its stake in Unit Corporation by 21.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,097,643 shares of the oil and gas company’s stock worth $74,838,000 after buying an additional 554,610 shares during the period. Victory Capital Management Inc. raised its stake in Unit Corporation by 4.0% in the first quarter. Victory Capital Management Inc. now owns 2,416,427 shares of the oil and gas company’s stock worth $58,381,000 after buying an additional 91,980 shares during the period. Finally, State Street Corp raised its stake in Unit Corporation by 8.5% in the first quarter. State Street Corp now owns 1,678,306 shares of the oil and gas company’s stock worth $40,546,000 after buying an additional 131,177 shares during the period. 91.63% of the stock is owned by hedge funds and other institutional investors.
Unit Corporation Company Profile
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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