Unit Corporation Forecasted to Post FY2017 Earnings of $0.49 Per Share (UNT)
Unit Corporation (NYSE:UNT) – Investment analysts at US Capital Advisors reduced their FY2017 earnings per share estimates for shares of Unit Corporation in a report released on Monday. US Capital Advisors analyst C. Horwitz now expects that the oil and gas company will post earnings per share of $0.49 for the year, down from their prior estimate of $0.51. US Capital Advisors also issued estimates for Unit Corporation’s Q4 2017 earnings at $0.18 EPS, Q1 2019 earnings at $0.27 EPS, Q2 2019 earnings at $0.20 EPS and Q3 2019 earnings at $0.20 EPS.
Unit Corporation (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 business had revenue of $188.49 million during the quarter, compared to analyst estimates of $189.44 million. Unit Corporation had a net margin of 4.28% and a return on equity of 2.33%. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period last year, the business earned $0.04 earnings per share.
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UNT has been the topic of several other reports. Scotiabank reaffirmed a “hold” rating and issued a $23.00 price objective on shares of Unit Corporation in a research note on Friday, November 3rd. Zacks Investment Research lowered Unit Corporation from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Cowen Inc reissued a “hold” rating and set a $25.00 price target on shares of Unit Corporation in a research note on Sunday, September 17th. 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. Finally, SunTrust Banks, Inc. reissued a “buy” rating and set a $25.00 price target on shares of Unit Corporation in a research note on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Unit Corporation presently has a consensus rating of “Hold” and a consensus price target of $24.60.
Shares of Unit Corporation (UNT) opened at $21.29 on Wednesday. The firm has a market capitalization of $1,150.00, a PE ratio of 37.96 and a beta of 2.84. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.67 and a quick ratio of 0.66. Unit Corporation has a 12 month low of $15.29 and a 12 month high of $30.63.
Hedge funds have recently made changes to their positions in the company. First Trust Advisors LP boosted its stake in shares of Unit Corporation by 147.3% during 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 purchasing an additional 66,090 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Unit Corporation by 67.2% during 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 purchasing an additional 113,455 shares in the last quarter. Icon Advisers Inc. Co. acquired a new stake in shares of Unit Corporation during the second quarter valued at about $2,688,000. Vanguard Group Inc. boosted its stake in shares of Unit Corporation by 8.6% during the second quarter. Vanguard Group Inc. now owns 6,428,609 shares of the oil and gas company’s stock valued at $120,407,000 after purchasing an additional 511,139 shares in the last quarter. Finally, Cipher Capital LP lifted its stake in shares of Unit Corporation by 85.9% in the second quarter. Cipher Capital LP now owns 122,428 shares of the oil and gas company’s stock worth $2,293,000 after acquiring an additional 56,569 shares during the period. 92.45% of the stock is currently owned by hedge funds and other institutional investors.
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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