Unit Corporation (NYSE:UNT) – Capital One Financial Corporation dropped their Q3 2017 earnings estimates for Unit Corporation in a research report issued to clients and investors on Wednesday. Capital One Financial Corporation analyst B. Velie now expects that the oil and gas company will post earnings of $0.07 per share for the quarter, down from their prior estimate of $0.15. Capital One Financial Corporation also issued estimates for Unit Corporation’s Q4 2017 earnings at $0.07 EPS.
UNT has been the topic of a number of other reports. Zacks Investment Research lowered Unit Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. KLR Group raised Unit Corporation from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Wednesday, August 23rd. Scotiabank set a $26.00 price target on Unit Corporation and gave the stock a “hold” rating in a research note on Thursday, August 3rd. BidaskClub lowered Unit Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Cowen and Company set a $25.00 price target on Unit Corporation and gave the stock a “hold” rating in a research note on Tuesday, July 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $26.00.
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Unit Corporation (UNT) opened at 15.92 on Thursday. The firm has a 50-day moving average of $17.41 and a 200-day moving average of $20.23. Unit Corporation has a 52-week low of $15.03 and a 52-week high of $30.63. The firm has a market cap of $841.95 million, a PE ratio of 306.15 and a beta of 2.76.
Unit Corporation (NYSE:UNT) last posted its earnings results on Thursday, August 3rd. The oil and gas company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.01. Unit Corporation had a net margin of 0.39% and a return on equity of 2.07%. The company had revenue of $170.58 million for the quarter, compared to analysts’ expectations of $178.59 million. During the same quarter in the prior year, the company posted ($0.15) earnings per share. Unit Corporation’s revenue for the quarter was up 23.3% compared to the same quarter last year.
Several institutional investors have recently added to or reduced their stakes in UNT. Ameritas Investment Partners Inc. purchased a new position in Unit Corporation during the first quarter valued at $106,000. State of Alaska Department of Revenue raised its position in Unit Corporation by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 5,700 shares of the oil and gas company’s stock valued at $137,000 after buying an additional 130 shares in the last quarter. Acrospire Investment Management LLC raised its position in Unit Corporation by 19.4% in the first quarter. Acrospire Investment Management LLC now owns 6,777 shares of the oil and gas company’s stock valued at $164,000 after buying an additional 1,100 shares in the last quarter. Jane Street Group LLC purchased a new position in Unit Corporation during the first quarter valued at $200,000. Finally, Laurion Capital Management LP purchased a new position in Unit Corporation during the first quarter valued at $205,000. 92.57% of the stock is currently owned by institutional investors and hedge funds.
About Unit Corporation
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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