Unit Co. (NYSE:UNT) has been given an average recommendation of “Hold” by the nine brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $25.50.
UNT has been the topic of several recent analyst reports. ValuEngine raised Unit from a “strong sell” rating to a “sell” rating in a research report on Wednesday, March 20th. Zacks Investment Research raised Unit from a “sell” rating to a “hold” rating in a research report on Friday, April 12th. Finally, Raymond James set a $22.00 price target on Unit and gave the company a “buy” rating in a research report on Friday, May 3rd.
NYSE:UNT traded up $0.15 during trading hours on Friday, hitting $11.73. 9,864 shares of the company’s stock traded hands, compared to its average volume of 348,519. The firm has a market capitalization of $613.48 million, a price-to-earnings ratio of 11.71 and a beta of 2.67. Unit has a twelve month low of $11.01 and a twelve month high of $29.06. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.43.
Unit (NYSE:UNT) last posted its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.08). The business had revenue of $189.70 million for the quarter, compared to analyst estimates of $202.16 million. Unit had a negative net margin of 6.84% and a positive return on equity of 2.79%. The firm’s quarterly revenue was down 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 earnings per share. Equities analysts forecast that Unit will post 0.75 earnings per share for the current year.
In other news, Director G Bailey Iv Peyton bought 3,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were bought at an average cost of $11.65 per share, with a total value of $34,950.00. Following the transaction, the director now directly owns 71,652 shares in the company, valued at approximately $834,745.80. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director King P. Kirchner bought 10,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was purchased at an average cost of $11.59 per share, for a total transaction of $115,900.00. Following the completion of the transaction, the director now owns 158,820 shares in the company, valued at $1,840,723.80. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 37,181 shares of company stock worth $549,348. Insiders own 5.16% of the company’s stock.
A number of hedge funds have recently modified their holdings of UNT. Bank of New York Mellon Corp increased its position in Unit by 3.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 971,362 shares of the oil and gas company’s stock worth $25,313,000 after purchasing an additional 30,008 shares during the last quarter. MetLife Investment Advisors LLC boosted its stake in shares of Unit by 54.3% during the 3rd quarter. MetLife Investment Advisors LLC now owns 38,041 shares of the oil and gas company’s stock worth $991,000 after acquiring an additional 13,386 shares in the last quarter. Morgan Stanley boosted its stake in shares of Unit by 46.0% during the 3rd quarter. Morgan Stanley now owns 195,681 shares of the oil and gas company’s stock worth $5,100,000 after acquiring an additional 61,651 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Unit by 1.2% during the 3rd 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 in the last quarter. Finally, Vanguard Group Inc boosted its stake in shares of Unit by 1.2% during the 3rd 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 in the last quarter. 88.91% of the stock is currently owned by institutional investors.
Unit Company Profile
Unit Corporation, together with its subsidiaries, engages in the exploration, acquisition, development, and production of oil and natural gas properties in the United States. It operates through three segments: Oil and Natural Gas, Contract Drilling, and Mid-Stream. The Oil and Natural Gas segment explores for, acquires, develops, and produces oil and natural gas properties.
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