Comerica Bank Purchases 2,800 Shares of Unit Co. (UNT)
Comerica Bank boosted its position in shares of Unit Co. (NYSE:UNT) by 5.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,806 shares of the company’s stock after buying an additional 2,800 shares during the period. Comerica Bank owned approximately 0.11% of Unit worth $1,455,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Municipal Employees Retirement System of Michigan increased its position in Unit by 1.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 11,410 shares of the company’s stock worth $212,000 after buying an additional 160 shares in the last quarter. Aperio Group LLC increased its position in Unit by 3.0% in the third quarter. Aperio Group LLC now owns 36,539 shares of the company’s stock worth $680,000 after buying an additional 1,066 shares in the last quarter. Sprott Inc. increased its position in Unit by 0.8% in the third quarter. Sprott Inc. now owns 320,000 shares of the company’s stock worth $5,952,000 after buying an additional 2,500 shares in the last quarter. Great West Life Assurance Co. Can increased its position in Unit by 4.9% in the third quarter. Great West Life Assurance Co. Can now owns 67,147 shares of the company’s stock worth $1,247,000 after buying an additional 3,141 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in Unit by 5.8% in the third quarter. UBS Asset Management Americas Inc. now owns 73,685 shares of the company’s stock worth $1,371,000 after buying an additional 4,020 shares in the last quarter. 95.56% of the stock is currently owned by institutional investors.
Shares of Unit Co. (NYSE:UNT) opened at 22.55 on Tuesday. The firm has a 50-day moving average price of $25.43 and a 200-day moving average price of $22.54. The stock’s market cap is $1.16 billion. Unit Co. has a 12 month low of $8.12 and a 12 month high of $30.63.
Unit (NYSE:UNT) last posted its quarterly earnings data on Thursday, February 23rd. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.16. The firm earned $174.30 million during the quarter, compared to analysts’ expectations of $168.29 million. Unit had a negative net margin of 74.42% and a negative return on equity of 2.61%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.14) EPS. Equities analysts forecast that Unit Co. will post $1.23 EPS for the current year.
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A number of research analysts have weighed in on the company. Zacks Investment Research downgraded Unit from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 9th. KLR Group downgraded Unit from an “accumulate” rating to a “hold” rating and set a $20.00 target price on the stock. in a report on Monday, November 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $22.00.
Unit Company Profile
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.
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