Unit Co. (NYSE:UNT) – Equities research analysts at SunTrust Banks raised their FY2018 EPS estimates for shares of Unit in a note issued to investors on Wednesday, November 7th. SunTrust Banks analyst N. Dingmann now forecasts that the oil and gas company will post earnings of $0.91 per share for the year, up from their previous estimate of $0.83. SunTrust Banks currently has a “Hold” rating and a $26.00 target price on the stock. SunTrust Banks also issued estimates for Unit’s Q4 2018 earnings at $0.20 EPS.
Unit (NYSE:UNT) last released its quarterly earnings results on Tuesday, November 6th. The oil and gas company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.07. Unit had a net margin of 14.60% and a return on equity of 3.39%. The firm had revenue of $220.10 million during the quarter, compared to analyst estimates of $212.34 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year.
NYSE UNT opened at $22.50 on Friday. Unit has a 52 week low of $16.17 and a 52 week high of $29.06. The stock has a market cap of $1.30 billion, a PE ratio of 41.67 and a beta of 2.82. The company has a quick ratio of 1.13, a current ratio of 0.93 and a debt-to-equity ratio of 0.44.
In related news, insider Robert Parks sold 22,806 shares of the 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 directly owns 77,348 shares of the company’s stock, valued at approximately $2,107,733. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.28% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in UNT. Advisor Partners LLC purchased a new stake in Unit in the 3rd quarter worth approximately $201,000. WINTON GROUP Ltd purchased a new stake in Unit in the 1st quarter worth approximately $225,000. Strs Ohio purchased a new stake in Unit in the 2nd quarter worth approximately $237,000. Fox Run Management L.L.C. bought a new position in Unit in the 3rd quarter worth approximately $253,000. Finally, Meadow Creek Investment Management LLC boosted its stake in 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 purchasing an additional 2,100 shares during the period. 92.52% of the stock is owned by institutional investors.
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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