Unit Corporation (UNT) Rating Reiterated by Cowen and Company
Unit Corporation (NYSE:UNT)‘s stock had its “hold” rating reissued by equities research analysts at Cowen and Company in a report released on Sunday. They currently have a $25.00 target price on the oil and gas company’s stock. Cowen and Company’s price target indicates a potential upside of 34.92% from the company’s previous close.
A number of other equities research analysts have also commented on the stock. KLR Group lowered shares of Unit Corporation from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $23.00 to $19.00 in a report on Tuesday, July 25th. Zacks Investment Research upgraded shares of Unit Corporation from a “sell” rating to a “hold” rating in a report on Friday, July 21st. Scotiabank restated a “hold” rating and set a $26.00 price objective on shares of Unit Corporation in a report on Friday, June 30th. Finally, BidaskClub lowered shares of Unit Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Unit Corporation presently has a consensus rating of “Hold” and a consensus target price of $26.00.
Unit Corporation (NYSE UNT) opened at 18.53 on Friday. The stock’s 50 day moving average is $17.07 and its 200 day moving average is $19.55. Unit Corporation has a 12-month low of $15.03 and a 12-month high of $30.63. The stock has a market capitalization of $979.98 million, a PE ratio of 356.35 and a beta of 2.79.
Unit Corporation (NYSE:UNT) last issued its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Unit Corporation had a net margin of 0.39% and a return on equity of 2.07%. The business had revenue of $170.58 million for the quarter, compared to analyst estimates of $178.59 million. During the same period last year, the business posted ($0.15) earnings per share. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. Analysts forecast that Unit Corporation will post $0.50 EPS for the current year.
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A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its stake in Unit Corporation by 23,333.4% in the 1st 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 last quarter. Vanguard Group Inc. boosted its holdings in shares of Unit Corporation by 8.6% during the 2nd quarter. Vanguard Group Inc. now owns 6,428,609 shares of the oil and gas company’s stock worth $120,407,000 after buying an additional 511,139 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Unit Corporation by 21.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,761,169 shares of the oil and gas company’s stock worth $70,446,000 after buying an additional 663,526 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Unit Corporation by 4.0% during the 1st 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 boosted its holdings in shares of Unit Corporation by 4.3% during the 2nd quarter. State Street Corp now owns 1,750,811 shares of the oil and gas company’s stock worth $32,790,000 after buying an additional 72,505 shares during the period. Hedge funds and other institutional investors own 92.57% of the company’s stock.
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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