Zacks Investment Research cut shares of Unit Corporation (NYSE:UNT) from a hold rating to a sell rating in a report published on Thursday, October 5th.
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. “
UNT has been the topic of several other research reports. Cowen and Company reaffirmed a hold rating and issued a $25.00 price target on shares of Unit Corporation in a report on Sunday, September 17th. KLR Group raised Unit Corporation from a hold rating to a buy rating and set a $20.00 target price on the stock in a research note on Wednesday, August 23rd. Scotiabank set a $26.00 target price on Unit Corporation and gave the company a hold rating in a research note on Thursday, August 3rd. Finally, BidaskClub cut Unit Corporation from a hold rating to a sell rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $25.25.
Unit Corporation (NYSE UNT) opened at 19.00 on Thursday. The firm has a 50-day moving average price of $18.75 and a 200-day moving average price of $19.04. Unit Corporation has a 1-year low of $15.29 and a 1-year high of $30.63. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 365.38 and a beta of 2.84.
Unit Corporation (NYSE:UNT) last released its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. The firm had revenue of $170.58 million for 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 business’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. On average, analysts expect that Unit Corporation will post $0.51 earnings per share for the current fiscal year.
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Institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. purchased a new stake in shares of Unit Corporation during the first quarter worth about $106,000. State of Alaska Department of Revenue raised its stake in Unit Corporation by 82.9% in the second quarter. State of Alaska Department of Revenue now owns 10,428 shares of the oil and gas company’s stock worth $195,000 after buying an additional 4,728 shares in the last quarter. Jane Street Group LLC bought a new position in Unit Corporation in the first quarter worth about $200,000. Laurion Capital Management LP bought a new position in Unit Corporation in the first quarter worth about $205,000. Finally, Wedge Capital Management L L P NC raised its stake in Unit Corporation by 9.0% in the second quarter. Wedge Capital Management L L P NC now owns 11,394 shares of the oil and gas company’s stock worth $213,000 after buying an additional 940 shares in the last quarter. Institutional investors own 92.57% of the company’s stock.
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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