Wedge Capital Management L L P NC boosted its position in Unit Co. (NYSE:UNT) by 36.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,620 shares of the oil and gas company’s stock after buying an additional 4,403 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Unit were worth $148,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the stock. Aperio Group LLC increased its stake in shares of Unit by 43.2% in the second quarter. Aperio Group LLC now owns 74,713 shares of the oil and gas company’s stock valued at $664,000 after buying an additional 22,552 shares during the period. Bridge City Capital LLC bought a new stake in shares of Unit during the 2nd quarter valued at about $685,000. Strs Ohio boosted its position in shares of Unit by 7.6% during the 2nd quarter. Strs Ohio now owns 41,000 shares of the oil and gas company’s stock valued at $364,000 after purchasing an additional 2,900 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Unit by 2.6% during the 2nd quarter. Arizona State Retirement System now owns 86,043 shares of the oil and gas company’s stock valued at $765,000 after purchasing an additional 2,176 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Unit by 45.0% during the 1st quarter. First Trust Advisors LP now owns 242,550 shares of the oil and gas company’s stock valued at $3,454,000 after purchasing an additional 75,318 shares in the last quarter. 86.80% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently commented on UNT shares. ValuEngine lowered Unit from a “sell” rating to a “strong sell” rating in a research report on Friday, April 26th. Raymond James set a $14.00 target price on Unit and gave the company a “buy” rating in a research report on Wednesday, August 7th. Zacks Investment Research upgraded Unit from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Finally, TheStreet lowered Unit from a “c-” rating to a “d+” rating in a research report on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $21.20.
Shares of Unit stock traded down $0.09 on Tuesday, hitting $3.29. 56,113 shares of the company’s stock traded hands, compared to its average volume of 1,079,614. Unit Co. has a one year low of $2.51 and a one year high of $29.06. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.67 and a quick ratio of 0.67. The company has a fifty day moving average of $6.31 and a two-hundred day moving average of $11.42. The company has a market capitalization of $181.76 million, a price-to-earnings ratio of 3.33 and a beta of 2.54.
Unit (NYSE:UNT) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.29). The firm had revenue of $165.20 million during the quarter, compared to the consensus estimate of $185.61 million. Unit had a positive return on equity of 1.31% and a negative net margin of 8.99%. The firm’s revenue was down 18.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.21 EPS. Equities research analysts anticipate that Unit Co. will post -0.04 earnings per share for the current year.
In other news, EVP Frank Q. Young purchased 10,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were acquired at an average price of $2.74 per share, for a total transaction of $27,400.00. Following the completion of the acquisition, the executive vice president now owns 103,848 shares in the company, valued at $284,543.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders acquired 21,000 shares of company stock worth $86,400. Corporate insiders own 5.16% of the company’s stock.
Unit Corporation, together with its subsidiaries, engages in the exploration, acquisition, development, and production of oil and natural gas properties in the United States. It operates through three segments: Oil and Natural Gas, Contract Drilling, and Mid-Stream. The Oil and Natural Gas segment explores for, acquires, develops, and produces oil and natural gas properties.
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