Stephens Begins Coverage on Unit (UNT)
Equities research analysts at Stephens began coverage on shares of Unit (NYSE:UNT) in a report issued on Thursday, Marketbeat reports. The firm set an “equal weight” rating and a $25.00 price target on the oil and gas company’s stock. Stephens’ price objective would suggest a potential upside of 30.28% from the stock’s current price.
A number of other analysts have also weighed in on UNT. SunTrust Banks restated a “hold” rating and set a $26.00 price objective on shares of Unit in a research note on Friday, August 10th. KLR Group restated a “hold” rating and set a $30.00 price objective on shares of Unit in a research note on Monday, August 20th. Zacks Investment Research upgraded shares of Unit from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Saturday, September 8th. ValuEngine lowered shares of Unit from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. Finally, MKM Partners initiated coverage on shares of Unit in a research note on Wednesday. They set a “neutral” rating and a $20.00 price objective for the company. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Unit presently has a consensus rating of “Hold” and an average target price of $26.43.
Shares of Unit stock opened at $19.19 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $1.09 billion, a P/E ratio of 35.54 and a beta of 2.85. Unit has a 1 year low of $16.17 and a 1 year high of $29.06.
In other news, insider Robert Parks sold 22,806 shares of Unit stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $27.25, for a total value of $621,463.50. Following the completion of the sale, the insider now directly owns 77,348 shares in the company, valued at $2,107,733. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.28% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Unit by 2.7% in the third quarter. BlackRock Inc. now owns 7,760,420 shares of the oil and gas company’s stock worth $202,237,000 after acquiring an additional 206,441 shares during the period. FMR LLC grew its stake in shares of Unit by 0.9% in the second quarter. FMR LLC now owns 6,521,327 shares of the oil and gas company’s stock worth $166,685,000 after acquiring an additional 58,100 shares during the period. Vanguard Group Inc. grew its stake in shares of Unit by 1.2% in the third quarter. Vanguard Group Inc. now owns 5,603,923 shares of the oil and gas company’s stock worth $146,037,000 after acquiring an additional 65,769 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Unit by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,542,078 shares of the oil and gas company’s stock worth $116,096,000 after acquiring an additional 73,150 shares during the period. Finally, United Services Automobile Association bought a new stake in shares of Unit in the second quarter worth approximately $91,547,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.
Unit Company Profile
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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