Unocal Exploration stock 'undervalued,' reports Dean Witter.Unocal Exploration stock `undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. ,' reports Dean Witter Dean Witter may refer to:
Drilling on Wall Street for natural gas, via the Unocal Exploration Corp., may be a way to hit paydirt, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a report issued by Dean Witter, the New York-based brokerage house. "Unocal Exploration Corp. shares are undervalued and underfollowed. In the wake of a strong third quarter, Unocal Exploration still lags behind other large independent U.S. natural gas producers," said Dean Witter. The gas exploration company pays a dividend of 40 cents a share, for a current yield of 2.9 percent. The stock is trading for about 22 times estimated 1990 earnings. Unocal Exploration has a 52-week trading range Trading Range The spread between the high and low prices traded during a period of time. Notes: When a stock breaks through or falls below its trading range after several days of trading in a range, it usually means there is momentum (positive or negative) building. of $11 to $19 a share, and traded last week in the high $11-a-share range. Los Angeles-based Unocal Corp. owns 95 percent of Unocal Exploration shares, but Dean Witter said the oil giant probably won't sell its hoard of shares. |
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