Zacks: Analysts Anticipate Unit Corporation (UNT) Will Announce Quarterly Sales of $193.84 Million
Wall Street analysts expect Unit Corporation (NYSE:UNT) to post $193.84 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Unit Corporation’s earnings, with the highest sales estimate coming in at $195.00 million and the lowest estimate coming in at $192.68 million. Unit Corporation posted sales of $153.41 million in the same quarter last year, which suggests a positive year-over-year growth rate of 26.4%. The firm is expected to announce its next earnings report before the market opens on Thursday, November 2nd.
On average, analysts expect that Unit Corporation will report full year sales of $193.84 million for the current year, with estimates ranging from $744.59 million to $753.00 million. For the next financial year, analysts expect that the company will report sales of $979.00 million per share, with estimates ranging from $936.00 million to $1.02 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Unit Corporation.
Unit Corporation (NYSE:UNT) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.01. The business had revenue of $170.58 million for 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 company’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.15) EPS.
UNT has been the topic of several research reports. KLR Group raised Unit Corporation from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Wednesday, August 23rd. Zacks Investment Research raised Unit Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Scotiabank set a $26.00 price objective on Unit Corporation and gave the stock a “hold” rating in a report on Thursday, August 3rd. Cowen and Company set a $25.00 price objective on Unit Corporation and gave the stock a “hold” rating in a report on Tuesday, July 18th. Finally, BidaskClub lowered Unit Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $25.25.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in shares of Unit Corporation by 23,333.4% during the first quarter. BlackRock Inc. now owns 6,658,614 shares of the oil and gas company’s stock worth $160,872,000 after buying an additional 6,630,199 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Unit Corporation by 8.6% during the second 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 last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Unit Corporation by 21.4% during the second 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 last quarter. State Street Corp grew its holdings in shares of Unit Corporation by 4.3% during the second 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 last quarter. Finally, Voya Investment Management LLC grew its holdings in shares of Unit Corporation by 9.7% during the second quarter. Voya Investment Management LLC now owns 1,444,525 shares of the oil and gas company’s stock worth $27,056,000 after buying an additional 127,137 shares during the last quarter. 92.57% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Unit Corporation (NYSE UNT) opened at 18.03 on Monday. The stock has a market cap of $953.53 million, a P/E ratio of 346.73 and a beta of 2.84. Unit Corporation has a 1-year low of $15.29 and a 1-year high of $30.63. The firm’s 50-day moving average price is $19.10 and its 200 day moving average price is $18.70.
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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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