Unit Corp. (UNT) Rating Lowered to Hold at KLR Group
Unit Corp. (NYSE:UNT) was downgraded by stock analysts at KLR Group from an “accumulate” rating to a “hold” rating in a note issued to investors on Monday.
Several other equities analysts also recently issued reports on UNT. National Securities upped their target price on Unit Corp. from $21.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, November 7th. Zacks Investment Research downgraded Unit Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, November 15th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $20.00.
Unit Corp. (NYSE:UNT) traded down 0.46% during mid-day trading on Monday, reaching $21.85. 141,100 shares of the company traded hands. The stock has a 50-day moving average of $18.64 and a 200 day moving average of $16.07. The stock’s market capitalization is $1.12 billion. Unit Corp. has a 52-week low of $3.90 and a 52-week high of $22.48.
Unit Corp. (NYSE:UNT) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.12. Unit Corp. had a negative return on equity of 2.61% and a negative net margin of 74.42%. The firm earned $153.40 million during the quarter, compared to analyst estimates of $152.05 million. During the same quarter in the prior year, the business posted $0.03 EPS. The business’s revenue for the quarter was down 27.8% compared to the same quarter last year. Equities research analysts expect that Unit Corp. will post ($0.61) earnings per share for the current year.
A number of large investors have recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan increased its stake 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 stake in shares of Unit Corp. by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 22,800 shares of the company’s stock valued at $355,000 after buying an additional 200 shares in the last quarter. Capstone Asset Management Co. increased its stake in shares of Unit Corp. by 2.2% in the second quarter. Capstone Asset Management Co. now owns 14,743 shares of the company’s stock valued at $229,000 after buying an additional 320 shares in the last quarter. PineBridge Investments L.P. increased its stake in shares of Unit Corp. by 10.1% in the second quarter. PineBridge Investments L.P. now owns 6,521 shares of the company’s stock valued at $101,000 after buying an additional 597 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Unit Corp. by 2.3% in the second quarter. Arizona State Retirement System now owns 26,749 shares of the company’s stock valued at $416,000 after buying an additional 600 shares in the last quarter. 94.87% of the stock is currently owned by institutional investors.
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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