Analysts expect Unit Co. (NYSE:UNT) to post $0.20 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Unit’s earnings, with the lowest EPS estimate coming in at $0.17 and the highest estimate coming in at $0.25. Unit posted earnings of $0.10 per share during the same quarter last year, which suggests a positive year over year growth rate of 100%. The business is scheduled to report its next earnings results on Thursday, November 1st.
According to Zacks, analysts expect that Unit will report full year earnings of $0.86 per share for the current year, with EPS estimates ranging from $0.76 to $0.96. For the next financial year, analysts anticipate that the business will report earnings of $1.09 per share, with EPS estimates ranging from $0.97 to $1.29. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Unit.
Unit (NYSE:UNT) last released its quarterly earnings results on Thursday, August 9th. The oil and gas company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.07. Unit had a return on equity of 2.78% and a net margin of 13.28%. The firm had revenue of $203.30 million for the quarter, compared to analysts’ expectations of $202.88 million. During the same quarter last year, the firm posted $0.07 EPS. The company’s revenue was up 19.2% compared to the same quarter last year.
Several research firms have weighed in on UNT. ValuEngine raised Unit from a “hold” rating to a “buy” rating in a report on Thursday, June 21st. Zacks Investment Research raised Unit from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 20th. KLR Group reaffirmed a “hold” rating and issued a $30.00 price target on shares of Unit in a report on Monday, August 20th. Cowen set a $30.00 price target on Unit and gave the company a “hold” rating in a report on Thursday, July 19th. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $26.00 price target on shares of Unit in a report on Friday, August 10th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $27.17.
Shares of NYSE:UNT traded up $0.66 on Friday, hitting $25.52. The company’s stock had a trading volume of 210,473 shares, compared to its average volume of 426,000. Unit has a 1 year low of $16.17 and a 1 year high of $29.06. The stock has a market cap of $1.41 billion, a P/E ratio of 47.26 and a beta of 3.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.39.
In other news, insider Robert Parks sold 22,806 shares of the stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $27.25, for a total transaction of $621,463.50. Following the transaction, the insider now directly owns 77,348 shares in the company, valued at approximately $2,107,733. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.17% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in UNT. United Services Automobile Association bought a new position in shares of Unit during the 2nd quarter valued at about $91,547,000. Millennium Management LLC bought a new position in shares of Unit during the 2nd quarter valued at about $13,689,000. BlackRock Inc. increased its position in shares of Unit by 6.5% during the 2nd quarter. BlackRock Inc. now owns 7,553,979 shares of the oil and gas company’s stock valued at $193,081,000 after purchasing an additional 459,010 shares during the last quarter. Northern Trust Corp increased its position in shares of Unit by 33.3% during the 1st quarter. Northern Trust Corp now owns 1,629,950 shares of the oil and gas company’s stock valued at $32,209,000 after purchasing an additional 407,495 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Unit by 5.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,468,928 shares of the oil and gas company’s stock valued at $88,306,000 after purchasing an additional 221,893 shares during the last quarter. Hedge funds and other institutional investors own 95.77% of the company’s stock.
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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