WealthTrust Axiom LLC grew its stake in shares of Unit Co. (NYSE:UNT) by 145.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,022 shares of the oil and gas company’s stock after purchasing an additional 55,200 shares during the quarter. WealthTrust Axiom LLC’s holdings in Unit were worth $314,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Arizona State Retirement System boosted its stake in shares of Unit by 2.6% during the second 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 during the period. Bank of America Corp DE lifted its stake in Unit by 67.3% in the second quarter. Bank of America Corp DE now owns 84,640 shares of the oil and gas company’s stock worth $753,000 after acquiring an additional 34,058 shares during the period. GSA Capital Partners LLP lifted its stake in Unit by 164.6% in the second quarter. GSA Capital Partners LLP now owns 27,651 shares of the oil and gas company’s stock worth $246,000 after acquiring an additional 17,199 shares during the period. State of Alaska Department of Revenue lifted its stake in Unit by 126.3% in the third quarter. State of Alaska Department of Revenue now owns 42,659 shares of the oil and gas company’s stock worth $144,000 after acquiring an additional 23,812 shares during the period. Finally, Aperio Group LLC lifted its stake in Unit by 43.2% in the second quarter. Aperio Group LLC now owns 74,713 shares of the oil and gas company’s stock worth $664,000 after acquiring an additional 22,552 shares during the period. 86.32% of the stock is owned by hedge funds and other institutional investors.
UNT has been the subject of a number of research reports. Zacks Investment Research lowered shares of Unit from a “hold” rating to a “strong sell” rating in a research note on Saturday, October 19th. ValuEngine raised shares of Unit from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 1st. Finally, Raymond James lowered shares of Unit from an “outperform” rating to a “market perform” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Unit presently has an average rating of “Hold” and an average target price of $19.00.
NYSE:UNT traded down $0.97 during mid-day trading on Friday, reaching $1.04. The company’s stock had a trading volume of 4,995,660 shares, compared to its average volume of 588,013. Unit Co. has a 1 year low of $0.99 and a 1 year high of $23.00. The stock has a fifty day moving average of $2.79 and a 200-day moving average of $6.46. The firm has a market capitalization of $126.07 million, a PE ratio of 1.04 and a beta of 2.69. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.48.
Unit (NYSE:UNT) last released its quarterly earnings data on Friday, November 8th. The oil and gas company reported ($0.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.06). The business had revenue of $155.44 million during the quarter, compared to analysts’ expectations of $160.87 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 29.4% compared to the same quarter last year. During the same period last year, the company earned $0.30 earnings per share. On average, analysts expect that Unit Co. will post -0.59 earnings per share for the current year.
In other news, EVP Frank Q. Young bought 10,000 shares of Unit stock in a transaction on Tuesday, August 13th. The stock was acquired at an average cost 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 of the company’s stock, valued at approximately $284,543.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.16% of the company’s stock.
Unit Company Profile
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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