Unit Co. (NYSE:UNT) – Equities research analysts at US Capital Advisors upped their FY2017 earnings per share (EPS) estimates for Unit in a note issued to investors on Monday. US Capital Advisors analyst C. Horwitz now anticipates that the oil and gas company will earn $0.54 per share for the year, up from their previous estimate of $0.49. US Capital Advisors also issued estimates for Unit’s Q4 2017 earnings at $0.23 EPS, Q1 2018 earnings at $0.43 EPS, Q2 2018 earnings at $0.41 EPS, Q3 2018 earnings at $0.42 EPS, Q4 2018 earnings at $0.41 EPS, FY2018 earnings at $1.66 EPS, Q1 2019 earnings at $0.43 EPS, Q2 2019 earnings at $0.36 EPS, Q3 2019 earnings at $0.36 EPS, Q4 2019 earnings at $0.36 EPS and FY2019 earnings at $1.50 EPS.
A number of other research analysts have also commented on UNT. ValuEngine lowered shares of Unit from a “hold” rating to a “sell” rating in a research report on Monday. Cowen set a $27.00 price objective on shares of Unit and gave the company a “hold” rating in a research report on Thursday, January 18th. Scotiabank reaffirmed a “hold” rating and set a $23.00 price objective on shares of Unit in a research report on Friday, November 3rd. KLR Group lowered shares of Unit from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, 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. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $25.00.
Institutional investors and hedge funds have recently made changes to their positions in the company. Piedmont Investment Advisors LLC acquired a new position in shares of Unit during the second quarter valued at about $214,000. Wedge Capital Management L L P NC raised its position 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 worth $308,000 after purchasing an additional 3,590 shares in the last quarter. Macquarie Group Ltd. acquired a new position in Unit in the third quarter worth about $313,000. Crossmark Global Holdings Inc. acquired a new position in Unit in the fourth quarter worth about $376,000. Finally, Teacher Retirement System of Texas acquired a new position in Unit in the fourth quarter worth about $378,000. 94.93% of the stock is owned by institutional investors and hedge funds.
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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