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. Its Oil and Natural Gas operations are carried out by its subsidiary Unit Petroleum Company. The Oil and Natural Gas segment explores, develops, acquires, and produces oil and natural gas properties. Contract Drilling operations are carried out by subsidiary Unit Drilling Company. It drills onshore oil and natural gas wells for its own account, as well as for other oil and natural gas companies. Its Mid-Stream operations are carried out by subsidiary Superior Pipeline Company, L.L.C.
Industry, Sector and Symbol:
- Sector: Oils/Energy
- Industry: Oil & Gas Drilling & Exploration
- Sub-Industry: Oil & Gas Drilling
- Exchange: NYSE
- Symbol: UNT
- CUSIP: 90921810
- Previous Close: $27.07
- 50 Day Moving Average: $26.96
- 200 Day Moving Average: $21.60
- 52-Week Range: $3.90 - $30.63
- Trailing P/E Ratio: N/A
- Foreward P/E Ratio: 25.78
- P/E Growth: 0.59
- Market Cap: $1.37B
- Outstanding Shares: 51,486,000
- Beta: 2.41
- Net Margins: -74.42%
- Return on Equity: -2.61%
- Return on Assets: -1.24%
Companies Related to Unit:
- Debt-to-Equity Ratio: 0.72%
- Current Ratio: 0.69%
- Quick Ratio: 0.66%
What is Unit's stock symbol?
Unit trades on the New York Stock Exchange (NYSE) under the ticker symbol "UNT."
Where is Unit's stock going? Where will Unit's stock price be in 2017?
4 analysts have issued 1-year target prices for Unit's stock. Their predictions range from $18.00 to $22.00. On average, they expect Unit's stock price to reach $20.25 in the next year.
When will Unit announce their earnings?
Unit is scheduled to release their next quarterly earnings announcement on Thursday, February, 23rd 2017.
What are analysts saying about Unit stock?
Here are some recent quotes from research analysts about Unit stock:
According to Zacks Investment Research, "UNIT CORP. is engaged in the land contract drilling of oil and natural gas wells, the development, acquisition and production of oil and natural gas properties, and the marketing of natural gas. Its principal areas of operations are located in the Anadarko and Arkoma Basins, which cover portions of Oklahoma, Texas, Kansas and Arkansas and has additional producing properties located in other states, including but not limited to, New Mexico, Louisiana, North Dakota, Colorado, Wyoming, Montana, Alabama and Mississippi. " (2/9/2017)
National Securities analysts commented, "Unit produced as expected for the quarter, while realized prices moved more than we expected. Unit finished 3Q16 at 45.6 thousand barrels of oil equivalent (Mboe) per day (down 7% from 2Q16), but in-line with our estimate of 45.2 Mboe/d. As it relates to midstream operations, Unit saw a 2% sequential decline in gas gathered, along with a 6% decline in gas processed, over the same time period. We note however, that the company generated a 9% increase in revenue via its gas gathering and processing operations. In terms of pricing, Unit earned $42.79 per barrel (bbl) of oil, 3% higher than the prior quarter and 8% better than our own estimate ($39.54 per bbl). Specific to natural gas, the company earned $2.29 per thousand cubic feet (Mcf), up 27% from 2Q16. Finally, in regards to its drilling segment, Unit posted a 19% increase over 2Q16 (13.5 rigs to 16), fully meeting our expectations. We note a 6% decline in day rates however, with Unit earning $17,479 per day, versus our estimate of $18,000.
The aforementioned uptick in Unit’s rigs from 13.5 to 16 has not gone unnoticed by us, nor has the subsequent increase to 20 stated by management. We view the increase in third party inquiries for Unit rigs, as a signal of stabilized prices in the industry. As such, we view this as a positive for both Unit’s drilling, and E&P segments. Still, we expect management to maintain a conservative approach to 2016 production, consistent with what they have said all year. To that end, our 4Q16 production projection remains unchanged at 43.4 Mboe/d, resulting in a full year 2016 average of 46.7 Mboe/d.
We reiterate our BUY rating, and raise our target to $21 from $18. We see Unit as positioned for future growth, and raise our price target accordingly. As such, we encourage investors to initiate, or add to long positions at current levels. We derive our target using a Net Asset Value (NAV) calculation (specific to exploration and production), while attributing additional value to the company’s midstream and drilling units.
Who owns Unit stock?
Unit's stock is owned by a number of of retail and institutional investors. Top institutional shareholders include FMR LLC (12.54%), Franklin Resources Inc. (6.60%), Dimensional Fund Advisors LP (4.94%), Van Den Berg Management I Inc. (3.16%), State Street Corp (3.00%) and Royce & Associates LP (1.69%). Company insiders that own Unit stock include G Bailey Iv Peyton, Gary R Christopher, John G Nikkel, Larry C Payne, Larry D Pinkston, Mark E Schell and Robert Parks.
Who sold Unit stock? Who is selling Unit stock?
Unit's stock was sold by a variety of institutional investors in the last quarter, including Royce & Associates LP, Oxford Asset Management, Van Den Berg Management I Inc., GSA Capital Partners LLP, Keybank National Association OH, Guggenheim Capital LLC, State Board of Administration of Florida Retirement System and Raymond James Financial Services Advisors Inc..
Who bought Unit stock? Who is buying Unit stock?
Unit's stock was bought by a variety of institutional investors in the last quarter, including Dimensional Fund Advisors LP, State Street Corp, Franklin Resources Inc., Russell Investments Group Ltd., Systematic Financial Management LP, Two Sigma Investments LP, AQR Capital Management LLC and Martingale Asset Management L P. Company insiders that have bought Unit stock in the last two years include G Bailey Iv Peyton, Gary R Christopher, John G Nikkel, Larry C Payne and Larry D Pinkston.
How do I buy Unit stock?
Shares of Unit can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
How much does a share of Unit stock cost?
One share of Unit stock can currently be purchased for approximately $27.07.