Q2 2017 Earnings Forecast for Unit Co. (UNT) Issued By Capital One Financial Corp.
Unit Co. (NYSE:UNT) – Capital One Financial Corp. reduced their Q2 2017 earnings per share estimates for Unit in a research note issued on Tuesday. Capital One Financial Corp. analyst B. Velie now expects that the oil and gas company will post earnings per share of $0.20 for the quarter, down from their prior forecast of $0.29. Capital One Financial Corp. also issued estimates for Unit’s Q3 2017 earnings at $0.21 EPS and Q4 2017 earnings at $0.22 EPS.
A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut Unit from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 9th. Scotiabank set a $29.00 price target on Unit and gave the stock a “hold” rating in a report on Monday, March 27th. KLR Group upgraded Unit from a “reduce” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Friday, May 5th. Finally, National Securities restated a “buy” rating and issued a $30.00 price target on shares of Unit in a report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $26.20.
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Unit (NYSE:UNT) opened at 19.15 on Wednesday. Unit has a 52-week low of $11.06 and a 52-week high of $30.63. The stock has a 50 day moving average price of $21.57 and a 200 day moving average price of $23.79. The stock’s market cap is $1.01 billion.
Unit (NYSE:UNT) last released its earnings results on Thursday, May 4th. The oil and gas company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.23 by $0.08. The firm had revenue of $175.70 million during the quarter, compared to analysts’ expectations of $177.58 million. Unit had a negative net margin of 74.42% and a negative return on equity of 2.61%. The business’s revenue was up 29.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.41) EPS.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Unit by 23,333.4% in the first quarter. BlackRock Inc. now owns 6,658,614 shares of the oil and gas company’s stock worth $160,872,000 after buying an additional 6,630,199 shares in the last quarter. Vanguard Group Inc. boosted its stake in Unit by 14.0% in the first quarter. Vanguard Group Inc. now owns 5,917,470 shares of the oil and gas company’s stock worth $142,966,000 after buying an additional 725,459 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Unit by 36.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,543,033 shares of the oil and gas company’s stock worth $68,332,000 after buying an additional 680,056 shares in the last quarter. Norges Bank purchased a new stake in Unit during the fourth quarter worth $14,007,000. Finally, Peregrine Capital Management LLC purchased a new stake in Unit during the third quarter worth $7,074,000. Institutional investors and hedge funds own 95.56% of the company’s stock.
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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