Unit (UNT) Lifted to Buy at ValuEngine

ValuEngine upgraded shares of Unit (NYSE:UNT) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.

Several other brokerages have also recently commented on UNT. SunTrust Banks restated a hold rating and issued a $26.00 target price on shares of Unit in a research report on Friday, August 10th. Cowen set a $30.00 target price on shares of Unit and gave the company a hold rating in a research report on Thursday, July 19th. Zacks Investment Research cut shares of Unit from a buy rating to a hold rating in a research report on Wednesday, October 31st. Finally, KLR Group restated a hold rating and issued a $30.00 target price on shares of Unit in a research report on Monday, August 20th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $28.00.

Shares of NYSE:UNT opened at $22.50 on Wednesday. The firm has a market cap of $1.39 billion, a P/E ratio of 41.67 and a beta of 2.82. Unit has a 12 month low of $16.17 and a 12 month high of $29.06. The company has a current ratio of 0.93, a quick ratio of 1.13 and a debt-to-equity ratio of 0.39.

Unit (NYSE:UNT) last issued its quarterly earnings data on Tuesday, November 6th. The oil and gas company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.07. Unit had a net margin of 14.60% and a return on equity of 3.28%. The business had revenue of $220.10 million during the quarter, compared to analysts’ expectations of $212.34 million. During the same quarter in the previous year, the company earned $0.10 EPS. The business’s revenue was up 16.8% on a year-over-year basis. Research analysts predict that Unit will post 0.94 earnings per share for the current fiscal year.

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

A number of hedge funds have recently added to or reduced their stakes in UNT. Meadow Creek Investment Management LLC grew its holdings in Unit by 26.8% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 9,940 shares of the oil and gas company’s stock worth $254,000 after acquiring an additional 2,100 shares during the last quarter. American Century Companies Inc. grew its holdings in Unit by 2.0% during the 3rd quarter. American Century Companies Inc. now owns 114,943 shares of the oil and gas company’s stock worth $2,995,000 after acquiring an additional 2,216 shares during the last quarter. Martingale Asset Management L P grew its holdings in Unit by 6.3% during the 3rd quarter. Martingale Asset Management L P now owns 40,747 shares of the oil and gas company’s stock worth $1,062,000 after acquiring an additional 2,415 shares during the last quarter. Glen Harbor Capital Management LLC grew its holdings in Unit by 26.8% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 12,070 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 2,550 shares during the last quarter. Finally, Keybank National Association OH grew its holdings in Unit by 5.0% during the 2nd quarter. Keybank National Association OH now owns 64,900 shares of the oil and gas company’s stock worth $1,659,000 after acquiring an additional 3,100 shares during the last quarter. Institutional investors and hedge funds own 92.52% of the company’s stock.

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.

Recommended Story: NASDAQ

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Unit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Unit and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply