Unit Corporation (UNT) Stock Rating Reaffirmed by Cowen and Company
Unit Corporation (NYSE:UNT)‘s stock had its “hold” rating reaffirmed by equities research analysts at Cowen and Company in a research note issued to investors on Sunday. They presently have a $25.00 target price on the oil and gas company’s stock. Cowen and Company’s price target points to a potential upside of 34.92% from the company’s previous close.
Other research analysts have also issued research reports about the company. KLR Group raised Unit Corporation from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Wednesday, August 23rd. Zacks Investment Research raised Unit Corporation from a “sell” rating to a “hold” rating in a report on Friday, July 21st. Scotiabank reaffirmed a “hold” rating and set a $26.00 price objective on shares of Unit Corporation in a report on Friday, June 30th. Finally, BidaskClub lowered Unit Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $26.00.
Shares of Unit Corporation (NYSE UNT) opened at 18.53 on Friday. Unit Corporation has a 52-week low of $15.03 and a 52-week high of $30.63. The firm has a 50-day moving average price of $17.07 and a 200 day moving average price of $19.55. The stock has a market cap of $979.98 million, a price-to-earnings ratio of 356.35 and a beta of 2.79.
Unit Corporation (NYSE:UNT) last announced its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.01. Unit Corporation had a return on equity of 2.07% and a net margin of 0.39%. The firm had revenue of $170.58 million for the quarter, compared to analyst estimates of $178.59 million. During the same quarter in the prior year, the company posted ($0.15) earnings per share. Unit Corporation’s quarterly revenue was up 23.3% on a year-over-year basis. Analysts expect that Unit Corporation will post $0.50 earnings per share for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Piedmont Investment Advisors LLC purchased a new stake in Unit Corporation during the second quarter worth $214,000. Delphi Management Inc. MA boosted its position in Unit Corporation by 0.6% during the second quarter. Delphi Management Inc. MA now owns 82,607 shares of the oil and gas company’s stock worth $1,547,000 after purchasing an additional 477 shares in the last quarter. Bank of Nova Scotia boosted its position in Unit Corporation by 25.0% during the second quarter. Bank of Nova Scotia now owns 54,227 shares of the oil and gas company’s stock worth $1,016,000 after purchasing an additional 10,855 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Unit Corporation by 10.5% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 43,579 shares of the oil and gas company’s stock worth $816,000 after purchasing an additional 4,127 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Unit Corporation by 4.1% during the second quarter. The Manufacturers Life Insurance Company now owns 40,593 shares of the oil and gas company’s stock worth $761,000 after purchasing an additional 1,598 shares in the last quarter. Institutional investors own 92.57% of the company’s stock.
Unit Corporation 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.
Receive News & Stock Ratings for Unit Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Unit Corporation and related stocks with our FREE daily email newsletter.