Unit Co. Expected to Post Q3 2018 Earnings of $0.20 Per Share (UNT)

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Unit Co. (NYSE:UNT) – SunTrust Banks increased their Q3 2018 earnings per share estimates for Unit in a report released on Monday, October 29th. SunTrust Banks analyst N. Dingmann now forecasts that the oil and gas company will post earnings of $0.20 per share for the quarter, up from their prior forecast of $0.17. SunTrust Banks currently has a “Hold” rating and a $26.00 target price 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 posted its quarterly earnings results on Thursday, August 9th. The oil and gas company reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.07. The firm had revenue of $203.30 million for the quarter, compared to the consensus estimate of $202.88 million. Unit had a net margin of 13.28% and a return on equity of 2.78%. The company’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period last year, the firm posted $0.07 earnings per share.

Other equities 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 price target on the stock in a research note on Saturday, September 8th. ValuEngine downgraded shares of Unit from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. KLR Group reissued a “hold” rating and issued a $30.00 price target on shares of Unit in a research note on Monday, August 20th. Finally, Cowen set a $30.00 price target on shares of Unit and gave the stock a “hold” rating in a research note on Thursday, July 19th. Seven analysts have rated the stock with a hold rating, Unit has a consensus rating of “Hold” and a consensus target price of $27.17.

NYSE:UNT opened at $23.13 on Thursday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $1.23 billion, a PE ratio of 42.83 and a beta of 3.00. Unit has a twelve month low of $16.17 and a twelve month high of $29.06.

In other Unit news, insider Robert Parks sold 22,806 shares of Unit stock in a transaction dated 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 directly owns 77,348 shares of the company’s stock, valued at $2,107,733. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.17% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Strs Ohio purchased a new stake in shares of Unit in the 2nd quarter valued at approximately $237,000. Fox Run Management L.L.C. purchased a new stake in shares of Unit in the 3rd quarter valued at approximately $253,000. Meadow Creek Investment Management LLC raised its stake in shares of Unit by 26.8% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 9,940 shares of the oil and gas company’s stock valued at $254,000 after acquiring an additional 2,100 shares during the period. United Services Automobile Association purchased a new stake in shares of Unit in the 2nd quarter valued at approximately $286,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Unit in the 1st quarter valued at approximately $225,000. 92.53% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Unit (NYSE:UNT)

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