Unit (UNT) Upgraded at ValuEngine

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

A number of other brokerages have also commented on UNT. SunTrust Banks reaffirmed a hold rating and issued 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 Unit and gave the company a hold rating in a research report on Thursday, July 19th. Zacks Investment Research lowered Unit from a buy rating to a hold rating in a research report on Wednesday, October 31st. Finally, KLR Group reaffirmed a hold rating and issued a $30.00 target price on shares of Unit in a research report on Monday, August 20th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $28.00.

Unit stock traded down $2.13 during midday trading on Wednesday, reaching $23.55. The stock had a trading volume of 126,396 shares, compared to its average volume of 277,670. Unit has a 12 month low of $16.17 and a 12 month high of $29.06. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 43.61 and a beta of 2.82. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.93 and a quick ratio of 1.13.

Unit (NYSE:UNT) last issued its earnings results on Tuesday, November 6th. The oil and gas company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.07. Unit had a return on equity of 3.39% and a net margin of 14.60%. The business had revenue of $220.10 million during the quarter, compared to analyst estimates of $212.34 million. During the same period in the previous year, the company posted $0.10 EPS. The firm’s revenue was up 16.8% compared to the same quarter last year. On average, sell-side analysts expect that Unit will post 0.84 EPS for the current year.

In other Unit news, insider Robert Parks sold 22,806 shares of Unit stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $27.25, for a total transaction of $621,463.50. Following the completion of the transaction, the insider now owns 77,348 shares in the company, valued at approximately $2,107,733. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.28% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in UNT. Advisor Partners LLC acquired a new position in Unit during the 3rd quarter valued at about $201,000. WINTON GROUP Ltd acquired a new position in Unit during the 1st quarter valued at about $225,000. Strs Ohio purchased a new position in shares of Unit in the 2nd quarter worth approximately $237,000. Fox Run Management L.L.C. purchased a new position in shares of Unit in the 3rd quarter worth approximately $253,000. Finally, Meadow Creek Investment Management LLC boosted 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 worth $254,000 after buying an additional 2,100 shares during the last quarter. Institutional investors and hedge funds 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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