Unit Corporation (NYSE:UNT) released its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01, MarketWatch Earnings reports. Unit Corporation had a net margin of 0.39% and a return on equity of 2.07%. The business had revenue of $170.58 million during the quarter, compared to the consensus estimate of $178.59 million. During the same quarter in the prior year, the firm earned ($0.15) EPS. The business’s revenue was up 23.3% on a year-over-year basis.
Shares of Unit Corporation (NYSE:UNT) traded up 1.48% during trading on Friday, reaching $17.15. 451,207 shares of the company’s stock were exchanged. The company has a 50 day moving average of $18.12 and a 200 day moving average of $21.28. Unit Corporation has a 12-month low of $14.39 and a 12-month high of $30.63. The stock has a market cap of $906.99 million, a P/E ratio of 329.81 and a beta of 2.76.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Unit Corporation by 23,333.4% in the first quarter. BlackRock Inc. now owns 6,658,614 shares of the oil and gas company’s stock valued at $160,872,000 after buying an additional 6,630,199 shares during the period. Vanguard Group Inc. boosted its position in shares of Unit Corporation by 8.6% in the second quarter. Vanguard Group Inc. now owns 6,428,609 shares of the oil and gas company’s stock valued at $120,407,000 after buying an additional 511,139 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Unit Corporation by 21.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,761,169 shares of the oil and gas company’s stock valued at $70,446,000 after buying an additional 663,526 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Unit Corporation by 4.0% in the first quarter. Victory Capital Management Inc. now owns 2,416,427 shares of the oil and gas company’s stock valued at $58,381,000 after buying an additional 91,980 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Unit Corporation by 8.5% in the first quarter. State Street Corp now owns 1,678,306 shares of the oil and gas company’s stock valued at $40,546,000 after buying an additional 131,177 shares during the last quarter. Institutional investors own 91.29% of the company’s stock.
UNT has been the subject of several research reports. National Securities reissued a “buy” rating and set a $30.00 price objective on shares of Unit Corporation in a report on Monday, May 8th. KLR Group upgraded shares of Unit Corporation from a “reduce” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Friday, May 5th. Zacks Investment Research upgraded shares of Unit Corporation from a “sell” rating to a “hold” rating in a research report on Friday, July 21st. Cowen and Company set a $25.00 target price on shares of Unit Corporation and gave the company a “hold” rating in a research report on Tuesday, July 18th. Finally, Scotiabank restated a “hold” rating and set a $26.00 target price on shares of Unit Corporation in a research report on Friday, June 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $25.80.
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About Unit Corporation
Unit Corporation is an oil and natural gas contract drilling company. The Company has operations in the exploration and production and mid-stream areas. The Company operates through three segments: Oil and Natural Gas, Contract Drilling and Mid-Stream. It is primarily engaged in the exploration, development, acquisition, and production of oil and natural gas properties, the land contract drilling of natural gas and oil wells, and the buying, selling, gathering, processing and treating of natural gas.
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