ValuEngine Lowers Unit (UNT) to Hold

ValuEngine downgraded shares of Unit (NYSE:UNT) from a buy rating to a hold rating in a report issued on Wednesday morning.

Other equities research analysts have also recently issued research reports about the stock. KLR Group reaffirmed a hold rating and issued a $30.00 price target on shares of Unit in a research report on Monday, August 20th. Zacks Investment Research raised shares of Unit from a hold rating to a buy rating and set a $28.00 price target for the company in a research report on Saturday, September 8th. Cowen set a $30.00 price target on shares of Unit and gave the stock a hold rating in a research 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 research report on Friday, August 10th. Seven investment analysts have rated the stock with a hold rating, The company presently has a consensus rating of Hold and an average price target of $27.17.

Shares of UNT opened at $22.71 on Wednesday. Unit has a fifty-two week low of $16.17 and a fifty-two week high of $29.06. The company has a market capitalization of $1.24 billion, a PE ratio of 31.08 and a beta of 3.00. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.13 and a quick ratio of 1.13.



Unit (NYSE:UNT) last announced its quarterly earnings results on Thursday, August 9th. The oil and gas company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.07. Unit had a net margin of 13.28% and a return on equity of 2.78%. The firm had revenue of $203.30 million during the quarter, compared to analysts’ expectations of $202.88 million. During the same quarter in the prior year, the company earned $0.07 EPS. The company’s revenue was up 19.2% compared to the same quarter last year. As a group, equities analysts expect that Unit will post 0.83 EPS for the current year.

In related news, insider Robert Parks sold 22,806 shares of the 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 sale, the insider now owns 77,348 shares of the company’s stock, valued at $2,107,733. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.28% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in Unit by 6.5% during the second quarter. BlackRock Inc. now owns 7,553,979 shares of the oil and gas company’s stock valued at $193,081,000 after acquiring an additional 459,010 shares during the last quarter. FMR LLC lifted its position in Unit by 0.9% during the second quarter. FMR LLC now owns 6,521,327 shares of the oil and gas company’s stock valued at $166,685,000 after acquiring an additional 58,100 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Unit by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,542,078 shares of the oil and gas company’s stock valued at $116,096,000 after acquiring an additional 73,150 shares during the last quarter. Victory Capital Management Inc. lifted its position in Unit by 6.1% during the second quarter. Victory Capital Management Inc. now owns 3,247,631 shares of the oil and gas company’s stock valued at $83,010,000 after acquiring an additional 187,401 shares during the last quarter. Finally, United Services Automobile Association purchased a new stake in Unit during the second quarter valued at approximately $91,547,000. 92.49% of the stock is owned by 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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