Unit Corporation (UNT) Stake Lifted by QS Investors LLC
QS Investors LLC grew its holdings in Unit Corporation (NYSE:UNT) by 0.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 118,253 shares of the oil and gas company’s stock after acquiring an additional 990 shares during the quarter. QS Investors LLC owned about 0.22% of Unit Corporation worth $2,215,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in UNT. Ameritas Investment Partners Inc. purchased a new position in shares of Unit Corporation in the 1st quarter valued at about $106,000. State of Alaska Department of Revenue increased its holdings in shares of Unit Corporation by 82.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 10,428 shares of the oil and gas company’s stock valued at $195,000 after acquiring an additional 4,728 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Unit Corporation in the 1st quarter valued at about $200,000. Laurion Capital Management LP purchased a new position in shares of Unit Corporation in the 1st quarter valued at about $205,000. Finally, Wedge Capital Management L L P NC increased its holdings in shares of Unit Corporation by 9.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 11,394 shares of the oil and gas company’s stock valued at $213,000 after acquiring an additional 940 shares during the last quarter. Institutional investors and hedge funds own 92.57% of the company’s stock.
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Unit Corporation (NYSE:UNT) opened at 19.93 on Friday. The stock has a market capitalization of $1.05 billion, a P/E ratio of 383.27 and a beta of 2.84. Unit Corporation has a 52 week low of $15.29 and a 52 week high of $30.63. The firm has a 50 day moving average price of $18.13 and a 200 day moving average price of $19.16.
Unit Corporation (NYSE:UNT) last posted its earnings results on Thursday, August 3rd. The oil and gas company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.01. The company had revenue of $170.58 million during the quarter, compared to analyst estimates of $178.59 million. Unit Corporation had a return on equity of 2.07% and a net margin of 0.39%. The business’s revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.15) earnings per share. Equities research analysts predict that Unit Corporation will post $0.51 earnings per share for the current year.
A number of research analysts have recently commented on UNT shares. KLR Group upgraded Unit Corporation from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Wednesday, August 23rd. Zacks Investment Research upgraded Unit Corporation from a “sell” rating to a “hold” rating in a research note on Friday, July 21st. Cowen and Company set a $25.00 price target on Unit Corporation and gave the stock a “hold” rating in a research note on Tuesday, July 18th. Scotiabank restated a “hold” rating and set a $26.00 price target on shares of Unit Corporation in a research note on Friday, June 30th. Finally, BidaskClub downgraded Unit Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Unit Corporation presently has an average rating of “Hold” and a consensus price target of $25.25.
About Unit Corporation
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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