Unit (UNT) Upgraded at Zacks Investment Research

Unit (NYSE:UNT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday. The firm presently has a $25.00 price target on the oil and gas company’s stock. Zacks Investment Research‘s target price points to a potential upside of 7.48% from the company’s previous close.

According to Zacks, “Unit Corporation is a diversified energy company engaged through its subsidiaries in the exploration for and production of oil and natural gas, the acquisition of producing oil and natural gas properties, the contract drilling of onshore oil and natural gas wells, and the gathering and processing of natural gas. Its principal areas of operations are located in the Anadarko and Arkoma Basins, which cover portions of Oklahoma, Texas, Kansas and Arkansas and has additional producing properties located in other states, including but not limited to, New Mexico, Louisiana, North Dakota, Colorado, Wyoming, Montana, Alabama and Mississippi. “

Several other analysts also recently commented on UNT. Cowen reissued a “hold” rating and issued a $25.00 target price on shares of Unit in a research report on Sunday, September 17th. KLR Group downgraded shares of Unit from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. SunTrust Banks reissued a “buy” rating and issued a $25.00 target price on shares of Unit in a research report on Friday, November 3rd. Scotiabank reissued a “hold” rating and issued a $23.00 target price on shares of Unit in a research report on Friday, November 3rd. Finally, ValuEngine downgraded shares of Unit from a “hold” rating to a “sell” rating in a research report on Thursday, November 30th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $24.67.

Shares of Unit (NYSE UNT) opened at $23.26 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 cap of $1,254.31, a P/E ratio of 40.10 and a beta of 2.90. Unit has a 1 year low of $15.29 and a 1 year high of $30.63.

Unit (NYSE:UNT) last posted its earnings results on Thursday, November 2nd. The oil and gas company reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.01). The business had revenue of $188.49 million during the quarter, compared to the consensus estimate of $189.44 million. Unit had a return on equity of 2.33% and a net margin of 4.28%. The business’s revenue was up 22.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 earnings per share. sell-side analysts predict that Unit will post 0.5 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of UNT. Piedmont Investment Advisors LLC bought a new stake in shares of Unit during the 2nd quarter worth $214,000. Neuberger Berman Group LLC bought a new stake in shares of Unit during the 2nd quarter worth $308,000. Wedge Capital Management L L P NC boosted its holdings in shares of Unit by 31.5% during the 3rd quarter. Wedge Capital Management L L P NC now owns 14,984 shares of the oil and gas company’s stock worth $308,000 after buying an additional 3,590 shares during the period. Macquarie Group Ltd. bought a new stake in shares of Unit during the 3rd quarter worth $313,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of Unit during the 2nd quarter worth $314,000. 95.15% of the stock is owned by institutional investors and hedge funds.

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Unit 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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