Scotiabank Reiterates Hold Rating for Unit Corporation (UNT)
Unit Corporation (NYSE:UNT)‘s stock had its “hold” rating reissued by stock analysts at Scotiabank in a research note issued on Friday. They presently have a $23.00 price objective on the oil and gas company’s stock. Scotiabank’s price objective would indicate a potential upside of 14.94% from the stock’s current price.
A number of other equities research analysts also recently weighed in on UNT. Cowen and Company set a $25.00 price target on Unit Corporation and gave the stock a “hold” rating in a research note on Tuesday, July 18th. Zacks Investment Research raised Unit Corporation from a “sell” rating to a “hold” rating in a research note on Friday, July 21st. KLR Group downgraded Unit Corporation from a “buy” rating to a “hold” rating and cut their price objective for the company from $23.00 to $19.00 in a research note on Tuesday, July 25th. Finally, BidaskClub downgraded Unit Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $24.60.
Shares of Unit Corporation (UNT) opened at $20.01 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.67 and a quick ratio of 0.66. The company has a market capitalization of $1,013.17, a price-to-earnings ratio of 34.84 and a beta of 2.85.
Unit Corporation (NYSE:UNT) last posted its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.01). Unit Corporation had a return on equity of 2.33% and a net margin of 4.28%. The firm had revenue of $188.49 million for the quarter, compared to analysts’ expectations of $189.44 million. During the same period last year, the business earned $0.04 earnings per share. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. sell-side analysts predict that Unit Corporation will post 0.5 EPS for the current year.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in UNT. State of Alaska Department of Revenue grew its holdings in shares of Unit Corporation by 82.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 10,428 shares of the oil and gas company’s stock worth $195,000 after purchasing an additional 4,728 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Unit Corporation during the 1st quarter worth approximately $200,000. Wedge Capital Management L L P NC grew its holdings in shares of Unit Corporation by 9.0% during the 2nd quarter. Wedge Capital Management L L P NC now owns 11,394 shares of the oil and gas company’s stock worth $213,000 after purchasing an additional 940 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of Unit Corporation during the 2nd quarter worth approximately $214,000. Finally, Municipal Employees Retirement System of Michigan grew its holdings in shares of Unit Corporation by 6.0% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 12,480 shares of the oil and gas company’s stock worth $234,000 after purchasing an additional 710 shares in the last quarter. 92.44% of the stock is currently 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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