Equities analysts predict that Unit Co. (NYSE:UNT) will report sales of $198.04 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Unit’s earnings, with the lowest sales estimate coming in at $196.08 million and the highest estimate coming in at $200.00 million. Unit posted sales of $203.30 million in the same quarter last year, which suggests a negative year over year growth rate of 2.6%. The firm is expected to report its next earnings results on Thursday, August 8th.
According to Zacks, analysts expect that Unit will report full-year sales of $815.57 million for the current fiscal year, with estimates ranging from $814.00 million to $817.14 million. For the next year, analysts forecast that the business will post sales of $941.38 million, with estimates ranging from $886.00 million to $996.75 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Unit.
Unit (NYSE:UNT) last posted 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 consensus estimate of $0.17 by ($0.08). The company had revenue of $189.70 million for the quarter, compared to the consensus estimate of $202.16 million. Unit had a positive return on equity of 2.79% and a negative net margin of 6.84%. The business’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 EPS.
A number of equities analysts have recently issued reports on the stock. TheStreet lowered shares of Unit from a “c-” rating to a “d+” rating in a research report on Tuesday, May 21st. Raymond James set a $22.00 price objective on shares of Unit and gave the company a “buy” rating in a report on Friday, May 3rd. Zacks Investment Research downgraded shares of Unit from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Finally, ValuEngine downgraded shares of Unit from a “sell” rating to a “strong sell” rating in a research report on Friday, April 26th. One equities 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 stock. The company presently has a consensus rating of “Hold” and an average target price of $24.29.
NYSE:UNT traded up $0.12 on Monday, reaching $9.62. The stock had a trading volume of 649,799 shares, compared to its average volume of 326,332. The firm has a market cap of $526.95 million, a PE ratio of 9.62 and a beta of 2.67. Unit has a 1-year low of $9.11 and a 1-year high of $29.06. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.43.
In other Unit news, insider Mark E. Schell sold 5,500 shares of the stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $15.51, for a total value of $85,305.00. Following the completion of the sale, the insider now owns 221,452 shares in the company, valued at $3,434,720.52. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Robert Parks sold 30,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $14.65, for a total transaction of $439,500.00. Following the completion of the sale, the insider now owns 76,195 shares of the company’s stock, valued at approximately $1,116,256.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,181 shares of company stock valued at $549,348. 5.16% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Unit by 0.8% in the first quarter. BlackRock Inc. now owns 8,019,449 shares of the oil and gas company’s stock valued at $114,198,000 after acquiring an additional 64,645 shares during the last quarter. Norges Bank acquired a new stake in Unit in the fourth quarter valued at $17,695,000. Global Alpha Capital Management Ltd. lifted its stake in Unit by 23.1% in the first quarter. Global Alpha Capital Management Ltd. now owns 761,881 shares of the oil and gas company’s stock valued at $10,849,000 after acquiring an additional 143,200 shares during the last quarter. Prudential Financial Inc. lifted its stake in Unit by 78.8% in the fourth quarter. Prudential Financial Inc. now owns 718,080 shares of the oil and gas company’s stock valued at $10,254,000 after acquiring an additional 316,370 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Unit by 11.5% in the first quarter. Geode Capital Management LLC now owns 627,968 shares of the oil and gas company’s stock valued at $8,942,000 after acquiring an additional 64,653 shares during the last quarter. Hedge funds and other institutional investors own 87.02% 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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