According to Zacks, “Unit Corporation is a diversified energy company engaged through its subsidiaries in the exploration for and production of oil and natural gas, the acquisition of producing oil and natural gas properties, the contract drilling of onshore oil and natural gas wells, and the gathering and processing of natural gas. Its principal areas of operations are located in the Anadarko and Arkoma Basins, which cover portions of Oklahoma, Texas, Kansas and Arkansas and has additional producing properties located in other states, including but not limited to, New Mexico, Louisiana, North Dakota, Colorado, Wyoming, Montana, Alabama and Mississippi. “
A number of other brokerages have also issued reports on UNT. Raymond James set a $60.00 target price on Banner and gave the company a “buy” rating in a research report on Friday, May 3rd. TheStreet lowered Unit from a “c-” rating to a “d+” rating in a report on Tuesday, May 21st. Finally, ValuEngine lowered W&T Offshore from a “hold” rating to a “sell” rating in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $24.29.
Unit (NYSE:UNT) last announced its earnings results on Thursday, May 2nd. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.08). Unit had a negative net margin of 6.84% and a positive return on equity of 2.79%. The business had revenue of $189.70 million for the quarter, compared to analysts’ expectations of $202.16 million. During the same quarter last year, the business earned $0.21 EPS. The company’s quarterly revenue was down 7.5% on a year-over-year basis. On average, sell-side analysts forecast that Unit will post 0.63 earnings per share for the current fiscal year.
In other Unit news, insider Mark E. Schell sold 5,500 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $15.51, for a total value of $85,305.00. Following the transaction, the insider now owns 221,452 shares in the company, valued at approximately $3,434,720.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director G Bailey Iv Peyton acquired 3,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was purchased at an average price of $11.65 per share, for a total transaction of $34,950.00. Following the acquisition, the director now directly owns 71,652 shares in the company, valued at approximately $834,745.80. The disclosure for this purchase can be found here. Insiders acquired a total of 15,000 shares of company stock worth $170,670 in the last 90 days. 5.16% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. New York State Common Retirement Fund increased its position in shares of Unit by 6.2% during the fourth quarter. New York State Common Retirement Fund now owns 63,412 shares of the oil and gas company’s stock worth $906,000 after acquiring an additional 3,712 shares in the last quarter. BlackRock Inc. grew its position in Unit by 2.5% in the 4th quarter. BlackRock Inc. now owns 7,954,804 shares of the oil and gas company’s stock worth $113,595,000 after purchasing an additional 194,384 shares in the last quarter. Texas Permanent School Fund grew its position in Unit by 3.9% in the 4th quarter. Texas Permanent School Fund now owns 35,375 shares of the oil and gas company’s stock worth $505,000 after purchasing an additional 1,343 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Unit by 3.2% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 41,288 shares of the oil and gas company’s stock worth $590,000 after purchasing an additional 1,275 shares in the last quarter. Finally, Citigroup Inc. grew its position in Unit by 128.4% in the 4th quarter. Citigroup Inc. now owns 52,618 shares of the oil and gas company’s stock worth $751,000 after purchasing an additional 29,577 shares in the last quarter. Institutional investors and hedge funds own 86.75% of the company’s stock.
Unit Corporation, together with its subsidiaries, engages in the exploration, acquisition, development, and production of oil and natural gas properties in the United States. It operates through three segments: Oil and Natural Gas, Contract Drilling, and Mid-Stream. The Oil and Natural Gas segment explores for, acquires, develops, and produces oil and natural gas properties.
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