Vident Investment Advisory LLC Buys Shares of 87,308 Unit Co. (UNT)
Vident Investment Advisory LLC bought a new position in shares of Unit Co. (NYSE:UNT) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 87,308 shares of the oil and gas company’s stock, valued at approximately $2,109,000. Vident Investment Advisory LLC owned about 0.17% of Unit as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of UNT. Dimensional Fund Advisors LP raised its stake in shares of Unit by 36.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,543,033 shares of the oil and gas company’s stock worth $68,332,000 after buying an additional 680,056 shares during the period. Norges Bank acquired a new stake in shares of Unit during the fourth quarter worth approximately $14,007,000. Wells Fargo & Company MN raised its stake in shares of Unit by 464.7% in the first quarter. Wells Fargo & Company MN now owns 368,008 shares of the oil and gas company’s stock worth $8,891,000 after buying an additional 302,835 shares during the period. Prudential Financial Inc. raised its stake in shares of Unit by 50.4% in the first quarter. Prudential Financial Inc. now owns 894,330 shares of the oil and gas company’s stock worth $21,607,000 after buying an additional 299,550 shares during the period. Finally, American Century Companies Inc. acquired a new stake in shares of Unit during the first quarter worth approximately $4,755,000. Institutional investors own 95.56% of the company’s stock.
Shares of Unit Co. (NYSE:UNT) traded down 0.05% during mid-day trading on Friday, hitting $18.81. The company’s stock had a trading volume of 483,638 shares. The stock’s 50 day moving average price is $21.03 and its 200 day moving average price is $23.89. The company’s market cap is $993.60 million. Unit Co. has a 52-week low of $11.06 and a 52-week high of $30.63.
Unit (NYSE:UNT) last announced its earnings results on Thursday, May 4th. The oil and gas company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.08. Unit had a negative return on equity of 2.61% and a negative net margin of 74.42%. The company had revenue of $175.70 million during the quarter, compared to the consensus estimate of $177.58 million. During the same period in the prior year, the business posted ($0.41) earnings per share. Unit’s revenue for the quarter was up 29.0% compared to the same quarter last year. Equities analysts forecast that Unit Co. will post $0.93 EPS for the current year.
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UNT has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Unit from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 9th. Scotiabank set a $29.00 price target on Unit and gave the stock a “hold” rating in a report on Monday, March 27th. KLR Group upgraded Unit from a “reduce” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Friday, May 5th. Finally, National Securities reiterated a “buy” rating and set a $30.00 price target on shares of Unit in a report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $26.20.
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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