Unit (UNT) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Unit (NYSE:UNT) from a hold rating to a buy rating in a research report report published on Saturday, January 6th. Zacks Investment Research currently has $25.00 target price on the oil and gas company’s stock.

According to Zacks, “Unit Corporation is a diversified energy company engaged through its subsidiaries in the exploration for and production of oil and natural gas, the acquisition of producing oil and natural gas properties, the contract drilling of onshore oil and natural gas wells, and the gathering and processing 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 subject of a number of other reports. SunTrust Banks reiterated a buy rating and issued a $25.00 target price on shares of Unit in a report on Friday, November 3rd. KLR Group downgraded shares of Unit from a buy rating to a hold rating in a report on Tuesday, October 17th. Cowen restated a hold rating and set a $25.00 price objective on shares of Unit in a report on Sunday, September 17th. ValuEngine downgraded shares of Unit from a hold rating to a sell rating in a report on Sunday, December 31st. Finally, Scotiabank restated a hold rating and set a $23.00 price objective on shares of Unit in a report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $24.67.

Unit (NYSE UNT) traded down $0.51 during midday trading on Friday, reaching $24.84. 405,200 shares of the company’s stock traded hands, compared to its average volume of 510,530. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.67 and a quick ratio of 0.66. The stock has a market capitalization of $1,330.00, a price-to-earnings ratio of 42.10 and a beta of 2.90. Unit has a 52 week low of $15.29 and a 52 week high of $28.48.

Unit (NYSE:UNT) last released its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). The firm had revenue of $188.49 million during the quarter, compared to the consensus estimate of $189.44 million. Unit had a net margin of 4.28% and a return on equity of 2.33%. The business’s revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.04 earnings per share. research analysts anticipate that Unit will post 0.5 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Piedmont Investment Advisors LLC purchased a new stake in Unit in the 2nd quarter worth approximately $214,000. Wedge Capital Management L L P NC raised its stake in shares of Unit by 31.5% during the 3rd quarter. Wedge Capital Management L L P NC now owns 14,984 shares of the oil and gas company’s stock worth $308,000 after buying an additional 3,590 shares during the period. Macquarie Group Ltd. acquired a new position in shares of Unit during the 3rd quarter worth approximately $313,000. Neuberger Berman Group LLC acquired a new position in shares of Unit during the 2nd quarter worth approximately $308,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of Unit during the 2nd quarter worth approximately $314,000. Hedge funds and other institutional investors own 95.15% of the company’s stock.

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About Unit

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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