Unit Corporation (UNT) Expected to Announce Quarterly Sales of $193.84 Million
Equities research analysts forecast that Unit Corporation (NYSE:UNT) will post $193.84 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Unit Corporation’s earnings. The lowest sales estimate is $192.68 million and the highest is $195.00 million. Unit Corporation posted sales of $153.41 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 26.4%. The firm is scheduled to report its next quarterly earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Unit Corporation will report full year sales of $193.84 million for the current financial year, with estimates ranging from $744.59 million to $753.00 million. For the next fiscal year, analysts forecast that the company will post sales of $981.81 million per share, with estimates ranging from $941.62 million to $1.02 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Unit Corporation.
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 firm had revenue of $170.58 million for the quarter, compared to analyst estimates of $178.59 million. During the same quarter in the previous year, the business posted ($0.15) EPS. The firm’s revenue was up 23.3% compared to the same quarter last year.
A number of research analysts recently issued reports on UNT shares. Scotiabank reiterated a “hold” rating and issued a $26.00 target price on shares of Unit Corporation in a research note on Friday, June 30th. Cowen and Company set a $25.00 price target on shares of Unit Corporation and gave the stock a “hold” rating in a research report on Tuesday, July 18th. Zacks Investment Research upgraded shares of Unit Corporation from a “sell” rating to a “hold” rating in a research report on Friday, July 21st. KLR Group lowered shares of Unit Corporation from a “buy” rating to a “hold” rating and decreased their price target for the stock from $23.00 to $19.00 in a research report on Tuesday, July 25th. Finally, BidaskClub lowered shares of Unit Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $25.25.
A number of hedge funds have recently made changes to their positions in the stock. Piedmont Investment Advisors LLC acquired a new stake in Unit Corporation in the 2nd quarter valued at about $214,000. Delphi Management Inc. MA increased its position in Unit Corporation by 0.6% in the 2nd quarter. Delphi Management Inc. MA now owns 82,607 shares of the oil and gas company’s stock valued at $1,547,000 after acquiring an additional 477 shares in the last quarter. Bank of Nova Scotia increased its position in Unit Corporation by 25.0% in the 2nd quarter. Bank of Nova Scotia now owns 54,227 shares of the oil and gas company’s stock valued at $1,016,000 after acquiring an additional 10,855 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Unit Corporation by 10.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 43,579 shares of the oil and gas company’s stock valued at $816,000 after acquiring an additional 4,127 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Unit Corporation by 4.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,593 shares of the oil and gas company’s stock valued at $761,000 after acquiring an additional 1,598 shares in the last quarter. 92.57% of the stock is owned by hedge funds and other institutional investors.
Unit Corporation (NYSE UNT) opened at 20.14 on Wednesday. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 387.31 and a beta of 2.84. Unit Corporation has a one year low of $15.29 and a one year high of $30.63. The firm has a 50-day moving average of $18.37 and a 200-day moving average of $19.10.
About Unit Corporation
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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