Unit Corporation (UNT) Releases Earnings Results, Beats Expectations By $0.07 EPS

Unit Corporation (UNT) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $-0.15 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $-0.22. The company posted revenue of $138.30 million in the period, compared to analysts expectations of $131.05 million. The company’s revenue was down -35.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.12 EPS.

Many Wall Street Analysts have commented on Unit Corporation. Seaport Global Securities Resumed Unit Corporation on Jun 24, 2016 to “Buy”, Price Target of the shares are set at $22.Unit Corporation was Downgraded by KLR Group to ” Accumulate” on May 26, 2016.

Unit Corporation opened for trading at $11.63 and hit $11.78 on the upside on Tusday, eventually ending the session at $11.6, with a gain of 2.75% or 0.31 points. The heightened volatility saw the trading volume jump to 7,17,989 shares. Company has a market cap of $596 M.

In a different news, on Mar 2, 2016, John G Nikkel (director) purchased 2,000 shares at $5.72 per share price. According to the SEC, on Sep 21, 2015, Steven B Hildebrand (director) purchased 2,000 shares at $11.39 per share price. On Sep 14, 2015, Larry C Payne (director) purchased 2,000 shares at $11.31 per share price, according to the Form-4 filing with the securities and exchange commission.

Unit Corporation (Unit) is an oil and natural gas contract drilling company. In addition to its drilling operations 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. The Company’s Oil and Natural Gas operations are carried out by its subsidiary Unit Petroleum Company which explores develops acquires and produces oil and natural gas properties. Contract Drilling operations are carried out by subsidiary Unit Drilling Company and its subsidiaries. Contract Drilling segment contracts to drill onshore oil and natural gas wells for others. The Company’s Mid-Stream are operations carried out by subsidiary Superior Pipeline Company L.L.C. which buys sells gathers processes and treats natural gas for third parties and for the Company.

Unit Corporation

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