Unit Corp. Forecasted to Earn Q4 2016 Earnings of $0.00 Per Share (UNT)
Unit Corp. (NYSE:UNT) – Research analysts at Seaport Global Securities raised their Q4 2016 EPS estimates for Unit Corp. in a note issued to investors on Tuesday. Seaport Global Securities analyst B. Mckenzie now forecasts that the brokerage will post earnings of $0.00 per share for the quarter, up from their prior forecast of ($0.07). Seaport Global Securities also issued estimates for Unit Corp.’s FY2017 earnings at $0.67 EPS.
A number of other brokerages have also recently commented on UNT. Zacks Investment Research raised Unit Corp. from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Friday. National Securities upped their price target on Unit Corp. from $21.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, November 7th. Finally, KLR Group upped their price target on Unit Corp. from $17.00 to $19.00 and gave the company an “accumulate” rating in a research note on Friday, September 2nd. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Unit Corp. currently has a consensus rating of “Buy” and a consensus price target of $20.00.
Unit Corp. (NYSE:UNT) opened at 21.04 on Thursday. The company’s 50-day moving average is $18.48 and its 200 day moving average is $15.88. The company’s market cap is $1.08 billion. Unit Corp. has a 12 month low of $3.90 and a 12 month high of $21.32.
Unit Corp. (NYSE:UNT) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.12. The firm had revenue of $153.40 million for the quarter, compared to analyst estimates of $152.05 million. Unit Corp. had a negative net margin of 74.42% and a negative return on equity of 2.61%. The company’s revenue for the quarter was down 27.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 earnings per share.
Institutional investors have recently modified their holdings of the stock. Municipal Employees Retirement System of Michigan raised its position in shares of Unit Corp. by 1.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 11,410 shares of the company’s stock valued at $212,000 after buying an additional 160 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Unit Corp. by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 22,800 shares of the company’s stock worth $355,000 after buying an additional 200 shares during the period. Capstone Asset Management Co. increased its position in Unit Corp. by 2.2% in the second quarter. Capstone Asset Management Co. now owns 14,743 shares of the company’s stock worth $229,000 after buying an additional 320 shares during the period. PineBridge Investments L.P. increased its position in Unit Corp. by 10.1% in the second quarter. PineBridge Investments L.P. now owns 6,521 shares of the company’s stock worth $101,000 after buying an additional 597 shares during the period. Finally, Arizona State Retirement System increased its position in Unit Corp. by 2.3% in the second quarter. Arizona State Retirement System now owns 26,749 shares of the company’s stock worth $416,000 after buying an additional 600 shares during the period. Institutional investors and hedge funds own 93.20% of the company’s stock.
Unit Corp. 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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