Unit Co. (NYSE:UNT) – SunTrust Banks upped their Q3 2018 EPS estimates for Unit in a research report issued on Monday, October 29th. SunTrust Banks analyst N. Dingmann now anticipates that the oil and gas company will post earnings of $0.20 per share for the quarter, up from their prior estimate of $0.17. SunTrust Banks has a “Hold” rating and a $26.00 price target on the stock. SunTrust Banks also issued estimates for Unit’s FY2019 earnings at $1.25 EPS and FY2020 earnings at $0.85 EPS.
Unit (NYSE:UNT) last released its quarterly earnings results on Thursday, August 9th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.07. Unit had a return on equity of 2.78% and a net margin of 13.28%. The firm had revenue of $203.30 million for the quarter, compared to analyst estimates of $202.88 million. During the same quarter last year, the company posted $0.07 earnings per share. The business’s revenue was up 19.2% on a year-over-year basis.
UNT has been the topic of a number of other research reports. Zacks Investment Research lowered Unit from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. KLR Group reaffirmed a “hold” rating and issued a $30.00 price objective on shares of Unit in a report on Monday, August 20th. Cowen set a $30.00 price objective on Unit and gave the company a “hold” rating in a report on Thursday, July 19th. Finally, ValuEngine lowered Unit from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Seven equities research analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and a consensus price target of $27.17.
Shares of UNT opened at $23.15 on Thursday. Unit has a twelve month low of $16.17 and a twelve month high of $29.06. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 42.87 and a beta of 3.00. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.13 and a current ratio of 1.13.
In other Unit news, insider Robert Parks sold 22,806 shares of Unit stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $27.25, for a total value of $621,463.50. Following the sale, the insider now owns 77,348 shares of the company’s stock, valued at approximately $2,107,733. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.28% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of UNT. United Services Automobile Association acquired a new position in shares of Unit during the 2nd quarter worth approximately $91,547,000. Glen Harbor Capital Management LLC raised its position in shares of Unit by 26.8% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 12,070 shares of the oil and gas company’s stock worth $309,000 after purchasing an additional 2,550 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Unit by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,542,078 shares of the oil and gas company’s stock worth $116,096,000 after purchasing an additional 73,150 shares during the last quarter. Martingale Asset Management L P raised its position in shares of Unit by 26.0% during the 2nd quarter. Martingale Asset Management L P now owns 38,332 shares of the oil and gas company’s stock worth $980,000 after purchasing an additional 7,910 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Unit by 6.1% during the 2nd quarter. Victory Capital Management Inc. now owns 3,247,631 shares of the oil and gas company’s stock worth $83,010,000 after purchasing an additional 187,401 shares during the last quarter. Institutional investors own 92.53% of the company’s stock.
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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