Unit Corporation (NYSE:UNT) PT Set at $25.00 by Cowen and Company

Unit Corporation (NYSE:UNT) has been assigned a $25.00 target price by analysts at Cowen and Company in a research note issued on Tuesday. The brokerage presently has a “hold” rating on the oil and gas company’s stock. Cowen and Company’s price objective would suggest a potential upside of 27.75% from the company’s previous close.

A number of other brokerages have also recently commented on UNT. KLR Group upgraded Unit Corporation from a “reduce” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Friday, May 5th. Scotiabank set a $29.00 price target on Unit Corporation and gave the company a “hold” rating in a research note on Monday, March 27th. National Securities reiterated a “buy” rating and issued a $30.00 price target on shares of Unit Corporation in a research note on Monday, May 8th. Finally, Zacks Investment Research cut Unit Corporation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $26.20.

Shares of Unit Corporation (UNT) opened at 19.57 on Tuesday. The company’s market cap is $1.03 billion. Unit Corporation has a 52-week low of $11.06 and a 52-week high of $30.63. The stock’s 50 day moving average price is $17.96 and its 200-day moving average price is $22.32.

Unit Corporation (NYSE:UNT) last issued its earnings results on Thursday, May 4th. The oil and gas company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.08. The business had revenue of $175.70 million during the quarter, compared to analyst estimates of $177.58 million. Unit Corporation had a negative net margin of 12.24% and a positive return on equity of 1.17%. The company’s revenue for the quarter was up 29.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.41) EPS. Equities analysts expect that Unit Corporation will post $0.82 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Unit Corporation 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 during the last quarter. Vanguard Group Inc. raised its position in shares of Unit Corporation by 14.0% in the first quarter. Vanguard Group Inc. now owns 5,917,470 shares of the oil and gas company’s stock valued at $142,966,000 after buying an additional 725,459 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Unit Corporation by 21.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,097,643 shares of the oil and gas company’s stock valued at $74,838,000 after buying an additional 554,610 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Unit Corporation by 4.0% in the first quarter. Victory Capital Management Inc. now owns 2,416,427 shares of the oil and gas company’s stock valued at $58,381,000 after buying an additional 91,980 shares in the last quarter. Finally, State Street Corp raised its position in shares of Unit Corporation by 8.5% in the first quarter. State Street Corp now owns 1,678,306 shares of the oil and gas company’s stock valued at $40,546,000 after buying an additional 131,177 shares in the last quarter. Institutional investors own 92.51% 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.