MKM Partners started coverage on shares of Unit (NYSE:UNT) in a research note published on Wednesday, The Fly reports. The firm issued a neutral rating and a $20.00 price objective on the oil and gas company’s stock.

Several other equities research analysts also recently issued reports on UNT. Zacks Investment Research downgraded shares of Unit from a buy rating to a hold rating in a research note on Wednesday, October 31st. KLR Group restated a hold rating and issued a $30.00 price objective on shares of Unit in a research note on Monday, August 20th. ValuEngine upgraded shares of Unit from a hold rating to a buy rating in a research note on Wednesday, November 7th. Finally, SunTrust Banks restated a hold rating and issued a $26.00 price objective on shares of Unit in a research note on Friday, August 10th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Unit currently has an average rating of Hold and an average price target of $26.43.

Shares of Unit stock opened at $18.82 on Wednesday. The firm has a market capitalization of $1.09 billion, a PE ratio of 34.86 and a beta of 2.85. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.93 and a current ratio of 0.93. Unit has a 1 year low of $16.17 and a 1 year high of $29.06.

Unit (NYSE:UNT) last announced its quarterly earnings data on Tuesday, November 6th. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.07. The business had revenue of $220.10 million for the quarter, compared to the consensus estimate of $212.34 million. Unit had a net margin of 14.60% and a return on equity of 3.28%. Unit’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the company posted $0.10 earnings per share. On average, sell-side analysts anticipate that Unit will post 0.96 earnings per share for the current year.

In related news, insider Robert Parks sold 22,806 shares of the firm’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $27.25, for a total value of $621,463.50. Following the completion of the transaction, the insider now directly owns 77,348 shares of the company’s stock, valued at $2,107,733. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.28% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of UNT. Meadow Creek Investment Management LLC lifted its holdings in shares of Unit by 26.8% during the second quarter. Meadow Creek Investment Management LLC now owns 9,940 shares of the oil and gas company’s stock valued at $254,000 after acquiring an additional 2,100 shares during the period. American Century Companies Inc. lifted its holdings in shares of Unit by 2.0% during the third quarter. American Century Companies Inc. now owns 114,943 shares of the oil and gas company’s stock valued at $2,995,000 after acquiring an additional 2,216 shares during the period. Martingale Asset Management L P lifted its holdings in shares of Unit by 6.3% during the third quarter. Martingale Asset Management L P now owns 40,747 shares of the oil and gas company’s stock valued at $1,062,000 after acquiring an additional 2,415 shares during the period. Glen Harbor Capital Management LLC lifted its holdings in shares of Unit by 26.8% during the second quarter. Glen Harbor Capital Management LLC now owns 12,070 shares of the oil and gas company’s stock valued at $309,000 after acquiring an additional 2,550 shares during the period. Finally, Keybank National Association OH lifted its holdings in shares of Unit by 5.0% during the second quarter. Keybank National Association OH now owns 64,900 shares of the oil and gas company’s stock valued at $1,659,000 after acquiring an additional 3,100 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

About Unit

Unit Corporation, together with its subsidiaries, operates as a diversified energy company in the United States. The company operates through three segments: Oil and Natural Gas, Contract Drilling, and Mid-Stream. The Oil and Natural Gas segment acquires, explores, develops, and produces oil and natural gas properties.

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Analyst Recommendations for Unit (NYSE:UNT)

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