Unit Corporation (UNT) Expected to Announce Quarterly Sales of $193.84 Million
Brokerages expect Unit Corporation (NYSE:UNT) to post $193.84 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Unit Corporation’s earnings. The highest sales estimate is $195.00 million and the lowest is $192.68 million. Unit Corporation reported sales of $153.41 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 26.4%. The company is expected to report its next earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Unit Corporation will report full-year sales of $193.84 million for the current fiscal year, with estimates ranging from $744.59 million to $753.00 million. For the next financial year, analysts forecast that the firm will post sales of $981.81 million per share, with estimates ranging from $941.62 million to $1.02 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Unit Corporation.
Unit Corporation (NYSE:UNT) last released its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $170.58 million during the quarter, compared to analyst estimates of $178.59 million. During the same quarter in the previous year, the business earned ($0.15) EPS. Unit Corporation’s quarterly revenue was up 23.3% compared to the same quarter last year.
UNT has been the subject of several recent research reports. KLR Group cut shares of Unit Corporation from a “buy” rating to a “hold” rating and reduced their target price for the stock from $23.00 to $19.00 in a report on Tuesday, July 25th. Cowen and Company set a $25.00 target price on shares of Unit Corporation and gave the stock a “hold” rating in a report on Tuesday, July 18th. Zacks Investment Research upgraded shares of Unit Corporation from a “sell” rating to a “hold” rating in a report on Friday, July 21st. Scotiabank restated a “hold” rating and set a $26.00 target price on shares of Unit Corporation in a report on Friday, June 30th. Finally, BidaskClub cut shares of Unit Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Unit Corporation has a consensus rating of “Hold” and a consensus target price of $26.00.
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Hedge funds have recently made changes to their positions in the business. State of Tennessee Treasury Department lifted its stake in Unit Corporation by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 48,274 shares of the oil and gas company’s stock valued at $1,166,000 after acquiring an additional 7,285 shares during the last quarter. Vident Investment Advisory LLC acquired a new stake in Unit Corporation in the first quarter valued at $2,109,000. Bank of America Corp DE lifted its stake in Unit Corporation by 67.2% in 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 acquiring an additional 113,455 shares during the last quarter. Vanguard Group Inc. lifted its stake in Unit Corporation by 14.0% in the first quarter. Vanguard Group Inc. now owns 5,917,470 shares of the oil and gas company’s stock valued at $142,966,000 after acquiring an additional 725,459 shares during the last quarter. Finally, Alambic Investment Management L.P. lifted its stake in Unit Corporation by 12.6% in the first quarter. Alambic Investment Management L.P. now owns 11,600 shares of the oil and gas company’s stock valued at $280,000 after acquiring an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 92.57% of the company’s stock.
Shares of Unit Corporation (NYSE UNT) opened at 19.15 on Friday. The company has a 50 day moving average of $17.09 and a 200 day moving average of $19.34. 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 $1.01 billion, a price-to-earnings ratio of 368.27 and a beta of 2.79.
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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