Unit Corporation (UNT) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS
Unit Corporation (NYSE:UNT) issued its quarterly earnings data on Thursday. The oil and gas company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.01), Bloomberg Earnings reports. Unit Corporation had a net margin of 0.39% and a return on equity of 2.07%. The company had revenue of $188.49 million during the quarter, compared to analysts’ expectations of $189.44 million. During the same quarter in the prior year, the company earned $0.04 earnings per share. The firm’s revenue was up 22.9% compared to the same quarter last year.
UNT has been the topic of several recent research reports. Zacks Investment Research upgraded Unit Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. BidaskClub downgraded Unit Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. KLR Group upgraded Unit Corporation from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Wednesday, August 23rd. Scotiabank set a $26.00 price objective on Unit Corporation and gave the company a “hold” rating in a research report on Thursday, August 3rd. Finally, Cowen and Company restated a “hold” rating and issued a $25.00 price objective on shares of Unit Corporation in a research report on Sunday, September 17th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $25.25.
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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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