Unit Corp. (NYSE:UNT) Receives Average Rating of “Buy” from Brokerages
Unit Corp. (NYSE:UNT) has earned an average recommendation of “Buy” from the seven ratings firms that are presently covering the company. Two analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $20.00.
A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of Unit Corp. from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Saturday, July 30th. Seaport Global Securities reissued a “buy” rating and set a $22.00 target price on shares of Unit Corp. in a research note on Friday, June 24th. Finally, KLR Group boosted their target price on shares of Unit Corp. from $17.00 to $19.00 and gave the stock an “accumulate” rating in a research note on Friday, September 2nd.
Unit Corp. (NYSE:UNT) traded down 3.86% on Tuesday, hitting $18.42. 234,548 shares of the company’s stock traded hands. The stock has a 50-day moving average of $16.98 and a 200-day moving average of $14.05. The stock’s market cap is $948.69 million. Unit Corp. has a one year low of $3.90 and a one year high of $19.53.
Unit Corp. (NYSE:UNT) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.07. Unit Corp. had a negative net margin of 95.26% and a negative return on equity of 2.41%. The company earned $138.30 million during the quarter, compared to analysts’ expectations of $131.05 million. During the same quarter in the previous year, the company earned ($0.12) earnings per share. The firm’s revenue for the quarter was down 35.5% on a year-over-year basis. On average, equities analysts forecast that Unit Corp. will post ($0.61) earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Aperio Group LLC raised its position in Unit Corp. by 19.2% in the first quarter. Aperio Group LLC now owns 30,511 shares of the company’s stock worth $269,000 after buying an additional 4,917 shares during the last quarter. Virginia Retirement System acquired a new position in Unit Corp. during the first quarter worth $487,000. Prudential Financial Inc. raised its position in Unit Corp. by 37.7% in the first quarter. Prudential Financial Inc. now owns 161,000 shares of the company’s stock worth $1,418,000 after buying an additional 44,100 shares during the last quarter. BlackRock Fund Advisors raised its position in Unit Corp. by 2.5% in the first quarter. BlackRock Fund Advisors now owns 3,402,546 shares of the company’s stock worth $29,976,000 after buying an additional 82,521 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Unit Corp. by 3.5% in the first quarter. JPMorgan Chase & Co. now owns 652,822 shares of the company’s stock worth $5,751,000 after buying an additional 21,783 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.
About Unit Corp.
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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