UNTC Research | Milton Maxwell

UNTC

Unit Corporation

31.52

-1.18-3.61%

Dec 16, 4:00:00 PM EST

Upcoming Earnings

Report date

≈ -/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

No earnings call transcript available

Key Stats

Market Cap

311.12M

P/E (TTM)

4.68

Basic EPS (TTM)

6.74

Dividend Yield

0.15%

Recent Filings

8-K

Dividends set, SEC filings end

8/10/23Aug 10, 2023

Unit Corporation's board approved $2.50 per share quarterly dividends for Q3 and Q4 2023, signaling confidence from its debt-free balance sheet and cash reserves. Yet it will cease voluntary SEC filings starting with Q2 2023, shifting to OTC Markets disclosures to cut costs on climate and governance rules. Dividends remain discretionary.

8-K

Declares $2.50 Q2 dividend

6/1/23Jun 1, 2023

Unit Corporation declared a $2.50 per share quarterly cash dividend on June 1, 2023, payable June 26 to shareholders of record June 16. Funded by balance sheet cash, it signals strong liquidity. Future payouts hinge on board discretion and business conditions. Solid return to investors.

10-Q

Q1 FY2023 results

5/11/23May 11, 2023

Unit Corporation swung to $134.7M net income in Q1 2023 ended March 31 (vs $46.9M loss y/y), fueled by $13.6M derivatives gain while operating income dipped to $44.7M from $60.6M y/y on lower oil/gas revenues ($48.0M vs $76.8M) despite contract drilling strength ($45.9M up 59% y/y on higher dayrates). Diluted EPS hit $13.75 on 9,795K shares, reconciling to net income. Cash fell to $170.9M from $214.0M q/q after $96.5M special dividend, yet operating cash flow rose 25% y/y to $57.4M with FCF $48.5M (derived). No debt; $35M RBL available. Commodity prices remain volatile.

8-K

Investor presentation posted

3/22/23Mar 22, 2023

Unit Corporation posted its March 2023 investor presentation to its website on March 22 under Regulation FD. The deck details operations and outlook but isn't filed material. Risks like commodity prices loom large.

10-K

FY2022 results

3/17/23Mar 17, 2023

Unit Corporation posted FY2022 net income of $148 million attributable to common shareholders, fueled by contract drilling's 94% revenue surge to $148 million on 50% higher rig utilization at 16.4 average rigs and 29% dayrate gains, while oil/gas revenues rose 20% on stronger pricing despite 18-21% volume drops from divestitures. Q4 rig count held steady at 17 versus Q3, with five BOSS rigs repricing higher, signaling sustained momentum into 2023 as 11 more contracts renew by mid-year. Cash swelled to $214 million with no debt, funding $27 million buybacks and a $10/share special dividend paid January 2023. Yet volatile commodity prices remain a drag on drilling demand.

About

Unit Corporation, together with its subsidiaries, engages in the exploration, acquisition, development, and production of oil and natural gas properties in the United States. The company operates through Oil and Natural Gas and Contract Drilling segments. The Oil and Natural Gas segment explores for, acquires, develops, and produces oil and natural gas properties. The Contract Drilling segment is involved in the drilling of onshore oil and natural gas wells for a range of other oil and natural gas companies primarily in Oklahoma, Texas, and New Mexico. Its producing oil and natural gas properties, unproved properties, and related assets are primarily located in Oklahoma and Texas. Unit Corporation was founded in 1963 and is headquartered in Tulsa, Oklahoma.

CEO

Mr. Philip Frohlich

IPO

7/9/2024

Website

https://www.unitcorp.com

Employees

516

Sector

Energy

Industry

Oil & Gas Integrated