Falcon Point Capital LLC reduced its stake in Unit Co. (NYSE:UNT) by 40.9% during the fourth quarter, HoldingsChannel reports. The fund owned 55,125 shares of the oil and gas company’s stock after selling 38,211 shares during the quarter. Falcon Point Capital LLC’s holdings in Unit were worth $1,213,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of UNT. Piedmont Investment Advisors LLC bought a new position in Unit in the 2nd quarter worth about $214,000. Wedge Capital Management L L P NC grew its stake in Unit by 31.5% in the 3rd quarter. Wedge Capital Management L L P NC now owns 14,984 shares of the oil and gas company’s stock worth $308,000 after acquiring an additional 3,590 shares in the last quarter. Macquarie Group Ltd. bought a new position in Unit in the 3rd quarter worth about $313,000. Crossmark Global Holdings Inc. bought a new position in Unit in the 4th quarter worth about $376,000. Finally, Teacher Retirement System of Texas bought a new position in Unit in the 4th quarter worth about $378,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

A number of equities analysts have commented on the stock. ValuEngine downgraded shares of Unit from a “hold” rating to a “sell” rating in a research note on Monday, February 5th. Scotiabank restated a “hold” rating and issued a $23.00 target price on shares of Unit in a research note on Friday, November 3rd. Cowen set a $27.00 target price on shares of Unit and gave the stock a “hold” rating in a research note on Thursday, January 18th. KLR Group downgraded shares of Unit from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, SunTrust Banks restated a “buy” rating and issued a $25.00 target price on shares of Unit in a research note on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $25.00.

Shares of Unit Co. (UNT) opened at $20.16 on Wednesday. Unit Co. has a 52-week low of $15.29 and a 52-week high of $28.48. The firm has a market cap of $1,094.61, a P/E ratio of 37.64 and a beta of 2.91. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.67 and a quick ratio of 0.66.

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Unit 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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Institutional Ownership by Quarter for Unit (NYSE:UNT)

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