Unit Co. (UNT) Given Consensus Recommendation of “Hold” by Analysts

Shares of Unit Co. (NYSE:UNT) have been given a consensus recommendation of “Hold” by the eight analysts that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $26.00.

Several research analysts have recently issued reports on UNT shares. Zacks Investment Research raised Unit from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Saturday, January 6th. SunTrust Banks reaffirmed a “buy” rating and set a $25.00 price objective on shares of Unit in a research report on Friday, November 3rd. KLR Group cut Unit from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Cowen reaffirmed a “hold” rating and set a $27.00 price objective on shares of Unit in a research report on Thursday. Finally, Scotiabank reaffirmed a “hold” rating and set a $23.00 price objective on shares of Unit in a research report on Friday, November 3rd.

Shares of Unit (UNT) opened at $24.89 on Friday. 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 has a 1-year low of $15.29 and a 1-year high of $28.48. The firm has a market capitalization of $1,337.33, a PE ratio of 42.91 and a beta of 2.90.

Unit (NYSE:UNT) last issued its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.01). Unit had a return on equity of 2.33% and a net margin of 4.28%. The company had revenue of $188.49 million for the quarter, compared to analysts’ expectations of $189.44 million. During the same quarter last year, the company earned $0.04 EPS. Unit’s revenue for the quarter was up 22.9% compared to the same quarter last year. equities analysts expect that Unit will post 0.5 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Unit by 8.6% in the 2nd quarter. Vanguard Group Inc. now owns 6,428,609 shares of the oil and gas company’s stock valued at $120,407,000 after purchasing an additional 511,139 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Unit by 3.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,908,501 shares of the oil and gas company’s stock valued at $80,437,000 after purchasing an additional 147,332 shares during the period. State Street Corp boosted its position in shares of Unit by 4.3% in the 2nd quarter. State Street Corp now owns 1,750,811 shares of the oil and gas company’s stock valued at $32,790,000 after purchasing an additional 72,505 shares during the period. Voya Investment Management LLC boosted its position in shares of Unit by 9.7% in the 2nd quarter. Voya Investment Management LLC now owns 1,444,525 shares of the oil and gas company’s stock valued at $27,056,000 after purchasing an additional 127,137 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Unit by 31.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,163,461 shares of the oil and gas company’s stock valued at $21,791,000 after purchasing an additional 276,734 shares during the period. 95.15% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Unit (NYSE:UNT)

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