KLR Group Raises Price Target on Unit Corp. (UNT) to $19; Reiterates Accumulate

September 2, 2016 7:53 AM EDT
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Price: $26.54 --0%

Rating Summary:
    9 Buy, 3 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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KLR Group reiterated an Accumulate rating on Unit Corp. (NYSE: UNT), and raised the price target to $19.00 (from $17.00), following consistent Wilcox inventory replenishment.

Analyst John Gerdes commented, "We are increasing our UNT target price $2 to $19 per share due to a modestly lower cost-of-capital given consistent Wilcox inventory replenishment and reengagement of Granite Wash development. The company has ~200 extended lateral Granite Wash locations in the Buffalo Wallow field. Unit’s mid-cycle (’18) E&P capital yield is 90%-95% versus the industry median of 125%-130%."

For an analyst ratings summary and ratings history on Unit Corp. click here. For more ratings news on Unit Corp. click here.

Shares of Unit Corp. closed at $17.25 yesterday.

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