$0.20 EPS Expected for Unit Co. (UNT) This Quarter

Analysts forecast that Unit Co. (NYSE:UNT) will report $0.20 earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for Unit’s earnings, with the highest EPS estimate coming in at $0.25 and the lowest estimate coming in at $0.17. Unit reported earnings per share of $0.10 during the same quarter last year, which suggests a positive year-over-year growth rate of 100%. The firm is scheduled to report its next quarterly earnings results on Thursday, November 1st.

On average, analysts expect that Unit will report full year earnings of $0.86 per share for the current financial year, with EPS estimates ranging from $0.76 to $0.96. For the next financial year, analysts forecast that the firm will post earnings of $1.09 per share, with EPS estimates ranging from $0.97 to $1.29. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Unit.

Unit (NYSE:UNT) last released its earnings results on Thursday, August 9th. The oil and gas company reported $0.21 EPS for the quarter, beating 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 business had revenue of $203.30 million during the quarter, compared to analyst estimates of $202.88 million. During the same period in the prior year, the business earned $0.07 earnings per share. The business’s quarterly revenue was up 19.2% on a year-over-year basis.

Several research firms recently commented on UNT. Zacks Investment Research lowered shares of Unit from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. KLR Group reissued a “hold” rating and set a $30.00 target price on shares of Unit in a research note on Monday, August 20th. SunTrust Banks reissued a “hold” rating and set a $26.00 target price on shares of Unit in a research note 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 note on Thursday, July 19th. Finally, ValuEngine raised shares of Unit from a “hold” rating to a “buy” rating in a research note on Thursday, June 21st. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $27.17.

In related news, insider Robert Parks sold 22,806 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 77,348 shares in the company, valued at approximately $2,107,733. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.17% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in Unit in the 1st quarter valued at approximately $110,000. Swiss National Bank increased its stake in shares of Unit by 3.4% during the 1st quarter. Swiss National Bank now owns 92,000 shares of the oil and gas company’s stock worth $1,818,000 after purchasing an additional 3,000 shares during the last quarter. Aperio Group LLC increased its stake in shares of Unit by 19.6% during the 1st quarter. Aperio Group LLC now owns 46,405 shares of the oil and gas company’s stock worth $917,000 after purchasing an additional 7,620 shares during the last quarter. Northern Trust Corp increased its stake in shares of Unit by 33.3% during the 1st quarter. Northern Trust Corp now owns 1,629,950 shares of the oil and gas company’s stock worth $32,209,000 after purchasing an additional 407,495 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Unit by 2.1% during the 1st quarter. BlackRock Inc. now owns 7,094,969 shares of the oil and gas company’s stock worth $140,196,000 after purchasing an additional 148,518 shares during the last quarter. Institutional investors and hedge funds own 95.77% of the company’s stock.

UNT stock opened at $26.78 on Friday. Unit has a 12 month low of $16.17 and a 12 month high of $29.06. The company has a market cap of $1.41 billion, a P/E ratio of 49.59 and a beta of 3.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.39.

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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