Unit (UNT) Trading Up 7%

Shares of Unit Co. (NYSE:UNT) were up 7% on Thursday . The company traded as high as $25.64 and last traded at $25.50. Approximately 965,663 shares changed hands during mid-day trading, an increase of 75% from the average daily volume of 551,758 shares. The stock had previously closed at $23.84.

A number of analysts recently weighed in on UNT shares. SunTrust Banks reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Unit in a report on Friday, November 3rd. Zacks Investment Research raised shares of Unit from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Saturday, January 6th. KLR Group cut shares of Unit from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Scotiabank reaffirmed a “hold” rating and issued a $23.00 price objective on shares of Unit in a report on Friday, November 3rd. Finally, ValuEngine cut shares of Unit from a “hold” rating to a “sell” rating in a report on Thursday, November 30th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $24.67.

The company has a market capitalization of $1,340.00, a PE ratio of 42.97 and a beta of 2.90. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.66 and a current ratio of 0.67.

Unit (NYSE:UNT) last announced its earnings results on Thursday, November 2nd. The oil and gas company reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.01). The company had revenue of $188.49 million during the quarter, compared to the consensus estimate of $189.44 million. Unit had a net margin of 4.28% and a return on equity of 2.33%. The business’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 EPS. sell-side analysts anticipate that Unit Co. will post 0.5 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in UNT. Dimensional Fund Advisors LP grew its position in Unit by 21.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,761,169 shares of the oil and gas company’s stock valued at $70,446,000 after buying an additional 663,526 shares in the last quarter. Vanguard Group Inc. grew its position in Unit by 8.6% in the 2nd quarter. Vanguard Group Inc. now owns 6,428,609 shares of the oil and gas company’s stock valued at $120,407,000 after buying an additional 511,139 shares in the last quarter. JPMorgan Chase & Co. grew its position in Unit by 31.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,163,461 shares of the oil and gas company’s stock valued at $21,791,000 after buying an additional 276,734 shares in the last quarter. LSV Asset Management grew its position in Unit by 335.8% in the 2nd quarter. LSV Asset Management now owns 255,400 shares of the oil and gas company’s stock valued at $4,783,000 after buying an additional 196,800 shares in the last quarter. Finally, Icon Advisers Inc. Co. bought a new position in Unit in the 2nd quarter valued at about $2,688,000. Hedge funds and other institutional investors own 95.15% of the company’s stock.

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Unit Company Profile

Unit Corporation is an oil and natural gas contract drilling company. The Company has operations in the exploration and production and mid-stream areas. The Company operates through three segments: Oil and Natural Gas, Contract Drilling and Mid-Stream. It is primarily engaged in the exploration, development, acquisition, and production of oil and natural gas properties, the land contract drilling of natural gas and oil wells, and the buying, selling, gathering, processing and treating of natural gas.

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