Unit Corporation (NYSE:UNT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “UNIT CORP. is engaged in the land contract drilling of oil and natural gas wells, the development, acquisition and production of oil and natural gas properties, and the marketing of natural gas. Its principal areas of operations are located in the Anadarko and Arkoma Basins, which cover portions of Oklahoma, Texas, Kansas and Arkansas and has additional producing properties located in other states, including but not limited to, New Mexico, Louisiana, North Dakota, Colorado, Wyoming, Montana, Alabama and Mississippi. “
Several other analysts have also recently commented on UNT. Scotiabank set a $26.00 price target on shares of Unit Corporation and gave the stock a “hold” rating in a report on Thursday, August 3rd. BidaskClub cut shares of Unit Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. KLR Group upgraded shares of Unit Corporation from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Wednesday, August 23rd. Finally, Cowen and Company set a $25.00 price target on shares of Unit Corporation and gave the stock a “hold” rating in a report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $25.25.
Shares of Unit Corporation (NYSE UNT) traded up 0.15% during trading on Thursday, reaching $19.70. 497,230 shares of the company traded hands. The firm has a 50-day moving average price of $18.68 and a 200-day moving average price of $19.09. The firm has a market capitalization of $1.04 billion, a PE ratio of 378.85 and a beta of 2.84. Unit Corporation has a 12 month low of $15.29 and a 12 month high of $30.63.
Unit Corporation (NYSE:UNT) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $170.58 million during the quarter, compared to analysts’ expectations of $178.59 million. Unit Corporation had a net margin of 0.39% and a return on equity of 2.07%. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period last year, the company posted ($0.15) earnings per share. Equities research analysts anticipate that Unit Corporation will post $0.51 EPS for the current year.
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Hedge funds and other institutional investors have recently bought and sold shares of the business. First Trust Advisors LP lifted its stake in Unit Corporation by 147.3% in the second quarter. First Trust Advisors LP now owns 110,947 shares of the oil and gas company’s stock valued at $2,078,000 after acquiring an additional 66,090 shares during the last quarter. Bank of America Corp DE lifted its stake in Unit Corporation by 67.2% in the first quarter. Bank of America Corp DE now owns 282,194 shares of the oil and gas company’s stock valued at $6,818,000 after acquiring an additional 113,455 shares during the last quarter. Vanguard Group Inc. lifted its stake in 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 acquiring an additional 725,459 shares during the last quarter. Icon Advisers Inc. Co. acquired a new stake in Unit Corporation in the second quarter valued at approximately $2,688,000. Finally, Mason Street Advisors LLC lifted its stake in Unit Corporation by 7.4% in the first quarter. Mason Street Advisors LLC now owns 12,078 shares of the oil and gas company’s stock valued at $292,000 after acquiring an additional 827 shares during the last quarter. Hedge funds and other 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.
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