Unit Co. (NYSE:UNT) – Analysts at SunTrust Banks raised their FY2018 EPS estimates for Unit in a note issued to investors on Monday, October 29th. SunTrust Banks analyst N. Dingmann now anticipates that the oil and gas company will post earnings of $0.83 per share for the year, up from their previous estimate of $0.81. SunTrust Banks currently has a “Hold” rating and a $26.00 target price on the stock.
Other research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Unit from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Saturday, September 8th. ValuEngine downgraded shares of Unit from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. KLR Group reaffirmed a “hold” rating and issued a $30.00 target price on shares of Unit in a research report on Monday, August 20th. Finally, 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. Seven research analysts have rated the stock with a hold rating, Unit currently has an average rating of “Hold” and a consensus price target of $27.17.
Unit (NYSE:UNT) last announced its quarterly earnings data on Thursday, August 9th. The oil and gas company reported $0.21 EPS for the quarter, beating the Zacks’ 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 company had revenue of $203.30 million for the quarter, compared to the consensus estimate of $202.88 million. During the same period in the prior year, the firm posted $0.07 EPS. The company’s quarterly revenue was up 19.2% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently bought and sold shares of UNT. WINTON GROUP Ltd purchased a new position in shares of Unit in the 1st quarter valued at $225,000. Strs Ohio purchased a new position in Unit during the 2nd quarter worth $237,000. Fox Run Management L.L.C. purchased a new position in Unit during the 3rd quarter worth $253,000. Meadow Creek Investment Management LLC grew its position 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 purchasing an additional 2,100 shares during the last quarter. Finally, United Services Automobile Association purchased a new position in Unit during the 2nd quarter worth $286,000. 92.53% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Robert Parks sold 22,806 shares of the stock in a transaction 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 transaction, the insider now directly owns 77,348 shares of the company’s stock, valued at approximately $2,107,733. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.17% 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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