Unit Co. (NYSE:UNT) – Research analysts at SunTrust Banks lowered their FY2017 earnings per share (EPS) estimates for shares of Unit in a note issued to investors on Tuesday. SunTrust Banks analyst N. Dingmann now forecasts that the oil and gas company will post earnings per share of $0.45 for the year, down from their prior forecast of $0.51. SunTrust Banks has a “Buy” rating and a $25.00 price objective on the stock. SunTrust Banks also issued estimates for Unit’s Q4 2017 earnings at $0.13 EPS, FY2018 earnings at $1.22 EPS and FY2020 earnings at $2.51 EPS.

Several other research firms have also weighed in on UNT. KLR Group lowered Unit from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Zacks Investment Research raised Unit from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Scotiabank reissued a “hold” rating and set a $23.00 price target on shares of Unit in a research report on Friday, November 3rd. ValuEngine downgraded Unit from a “hold” rating to a “sell” rating in a research note on Thursday, November 30th. Finally, Cowen restated a “hold” rating and issued a $25.00 target price on shares of Unit in a research note on Sunday, September 17th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $24.60.

Unit (UNT) opened at $22.75 on Thursday. The firm has a market capitalization of $1,170.00, a price-to-earnings ratio of 38.56 and a beta of 2.90. Unit has a 52-week low of $15.29 and a 52-week high of $30.63. The company has a current ratio of 0.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.64.

Unit (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 consensus estimate of $0.11 by ($0.01). The business had revenue of $188.49 million for the quarter, compared to analyst estimates of $189.44 million. Unit had a net margin of 4.28% and a return on equity of 2.33%. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.04 earnings per share.

Hedge funds and other institutional investors have recently modified their holdings of the business. Piedmont Investment Advisors LLC purchased a new position in Unit in the second quarter valued at about $214,000. Wedge Capital Management L L P NC grew its stake in Unit by 31.5% in the third quarter. Wedge Capital Management L L P NC now owns 14,984 shares of the oil and gas company’s stock valued at $308,000 after purchasing an additional 3,590 shares in the last quarter. Macquarie Group Ltd. purchased a new position in Unit in the third quarter valued at about $313,000. Neuberger Berman Group LLC purchased a new position in Unit in the second quarter valued at about $308,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in Unit in the second quarter valued at about $314,000. Hedge funds and other institutional investors own 95.15% of the company’s stock.

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About Unit

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.

Earnings History and Estimates for Unit (NYSE:UNT)

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