Unit (UNT) Upgraded to Buy by ValuEngine

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

UNT has been the topic of a number of other research reports. Zacks Investment Research downgraded shares of Unit from a buy rating to a hold rating in a research report on Tuesday, September 11th. SunTrust Banks reiterated a hold rating and set 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. Finally, KLR Group restated a hold rating and set a $30.00 price objective on shares of Unit in a report on Monday, August 20th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $28.00.

NYSE:UNT opened at $22.50 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.13 and a current ratio of 0.93. Unit has a 52 week low of $16.17 and a 52 week high of $29.06. The firm has a market capitalization of $1.39 billion, a PE ratio of 41.67 and a beta of 2.82.

Unit (NYSE:UNT) last released its earnings results on Tuesday, November 6th. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $220.10 million for the quarter, compared to the consensus estimate of $212.34 million. During the same quarter in the previous year, the company earned $0.10 EPS. Unit’s quarterly revenue was up 16.8% compared to the same quarter last year. Equities research analysts forecast that Unit will post 0.94 earnings per share for the current year.

In other Unit news, insider Robert Parks sold 22,806 shares of the company’s stock in a transaction 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 transaction, the insider now owns 77,348 shares in the company, valued at $2,107,733. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.28% of the company’s stock.

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

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