Shares of Unit Co. (NYSE:UNT) have been given a consensus rating of “Hold” by the seven brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $19.67.
A number of brokerages have weighed in on UNT. Raymond James set a $14.00 price target on Unit and gave the stock a “buy” rating in a report on Wednesday, August 7th. TheStreet downgraded Unit from a “c-” rating to a “d+” rating in a report on Tuesday, May 21st. Finally, Zacks Investment Research upgraded Unit from a “sell” rating to a “hold” rating in a report on Saturday, July 13th.
Unit stock traded down $0.36 during trading hours on Friday, reaching $2.77. 1,429,616 shares of the company’s stock were exchanged, compared to its average volume of 1,189,369. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.48. The firm’s 50 day simple moving average is $5.88 and its 200 day simple moving average is $11.16. Unit has a twelve month low of $2.51 and a twelve month high of $29.06. The firm has a market capitalization of $173.83 million, a PE ratio of 2.77 and a beta of 2.54.
Unit (NYSE:UNT) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.29). Unit had a positive return on equity of 1.31% and a negative net margin of 8.99%. The business had revenue of $165.20 million for the quarter, compared to analyst estimates of $185.61 million. During the same quarter in the previous year, the business posted $0.21 earnings per share. The business’s revenue was down 18.7% on a year-over-year basis. Analysts anticipate that Unit will post -0.04 EPS for the current year.
In other news, EVP Frank Q. Young bought 10,000 shares of Unit stock in a transaction dated Tuesday, August 13th. The stock was bought at an average cost of $2.74 per share, for a total transaction of $27,400.00. Following the purchase, the executive vice president now directly owns 103,848 shares in the company, valued at approximately $284,543.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders bought 21,000 shares of company stock valued at $86,400. 5.16% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its stake in Unit by 4,726.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,406 shares of the oil and gas company’s stock valued at $48,000 after purchasing an additional 5,294 shares during the last quarter. Quantamental Technologies LLC boosted its stake in Unit by 249.1% during the 2nd quarter. Quantamental Technologies LLC now owns 5,606 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 4,000 shares during the last quarter. Everence Capital Management Inc. acquired a new position in Unit during the 1st quarter valued at about $151,000. Nisa Investment Advisors LLC boosted its stake in Unit by 123.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 10,875 shares of the oil and gas company’s stock valued at $155,000 after purchasing an additional 6,000 shares during the last quarter. Finally, Magnus Financial Group LLC acquired a new position in Unit during the 2nd quarter valued at about $99,000. Institutional investors own 86.80% of the company’s stock.
Unit Company Profile
Unit Corporation, together with its subsidiaries, engages in the exploration, acquisition, development, and production of oil and natural gas properties in the United States. It operates through three segments: Oil and Natural Gas, Contract Drilling, and Mid-Stream. The Oil and Natural Gas segment explores for, acquires, develops, and produces oil and natural gas properties.
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