Unit Co. (NYSE:UNT) Expected to Announce Earnings of $0.14 Per Share

Wall Street analysts expect Unit Co. (NYSE:UNT) to report earnings per share of $0.14 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Unit’s earnings. The highest EPS estimate is $0.16 and the lowest is $0.13. Unit reported earnings of $0.21 per share in the same quarter last year, which indicates a negative year over year growth rate of 33.3%. The business is scheduled to issue its next earnings results on Thursday, August 8th.

On average, analysts expect that Unit will report full year earnings of $0.63 per share for the current year, with EPS estimates ranging from $0.55 to $0.79. For the next financial year, analysts anticipate that the business will report earnings of $1.29 per share, with EPS estimates ranging from $0.28 to $2.31. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Unit.

Unit (NYSE:UNT) last issued its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.08). Unit had a positive return on equity of 2.79% and a negative net margin of 6.84%. The business had revenue of $189.70 million for the quarter, compared to analysts’ expectations of $202.16 million. During the same period in the previous year, the business posted $0.21 earnings per share. The company’s revenue for the quarter was down 7.5% on a year-over-year basis.

Several brokerages have issued reports on UNT. Raymond James set a $60.00 price objective on shares of Banner and gave the stock a “buy” rating in a research report on Friday, May 3rd. Zacks Investment Research raised shares of Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Saturday. ValuEngine downgraded shares of W&T Offshore from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Finally, TheStreet downgraded shares of Unit from a “c-” rating to a “d+” rating in a report on Tuesday, May 21st. 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 stock currently has an average rating of “Hold” and an average target price of $24.29.

Unit stock traded down $0.10 during midday trading on Wednesday, hitting $7.93. 15,011 shares of the company’s stock were exchanged, compared to its average volume of 498,169. Unit has a 12-month low of $7.68 and a 12-month high of $29.06. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market cap of $445.41 million, a PE ratio of 8.00 and a beta of 2.57. The business has a 50 day moving average price of $8.82.

In other news, Director G Bailey Iv Peyton bought 3,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was acquired at an average cost of $11.65 per share, for a total transaction of $34,950.00. Following the completion of the purchase, the director now owns 71,652 shares of the company’s stock, valued at $834,745.80. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director King P. Kirchner bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was purchased at an average price of $11.59 per share, with a total value of $115,900.00. Following the completion of the purchase, the director now directly owns 158,820 shares of the company’s stock, valued at approximately $1,840,723.80. The disclosure for this purchase can be found here. Insiders bought 15,000 shares of company stock valued at $170,670 over the last 90 days. Insiders own 5.16% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. First Trust Advisors LP boosted its holdings in shares of Unit by 45.0% in the first quarter. First Trust Advisors LP now owns 242,550 shares of the oil and gas company’s stock worth $3,454,000 after buying an additional 75,318 shares during the period. Marshall Wace North America L.P. acquired a new position in shares of Unit in the first quarter worth about $1,692,000. Marshall Wace LLP boosted its holdings in shares of Unit by 2,494.2% in the first quarter. Marshall Wace LLP now owns 496,096 shares of the oil and gas company’s stock worth $7,065,000 after buying an additional 476,973 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of Unit in the first quarter worth about $344,000. Finally, Ontario Teachers Pension Plan Board acquired a new position in shares of Unit in the first quarter worth about $1,232,000. Institutional investors and hedge funds own 86.83% of the company’s stock.

About Unit

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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