Virginia Retirement Systems ET AL acquired a new position in shares of Unit Corp. (NYSE:UNT) during the second quarter, Holdings Channel reports. The firm acquired 55,300 shares of the company’s stock, valued at approximately $860,000. Virginia Retirement Systems ET AL owned about 0.11% of Unit Corp. as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in UNT. Wedge Capital Management L L P NC raised its position in shares of Unit Corp. by 6,364.0% in the second quarter. Wedge Capital Management L L P NC now owns 1,079,876 shares of the company’s stock worth $50,689,000 after buying an additional 1,063,170 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Unit Corp. by 6.5% in the second quarter. Vanguard Group Inc. now owns 4,113,091 shares of the company’s stock worth $63,999,000 after buying an additional 250,159 shares during the period. Victory Capital Management Inc. increased its stake in shares of Unit Corp. by 10.4% in the second quarter. Victory Capital Management Inc. now owns 2,581,402 shares of the company’s stock worth $40,167,000 after buying an additional 244,150 shares during the period. Oxford Asset Management bought a new stake in shares of Unit Corp. during the second quarter worth about $2,875,000. Finally, First Trust Advisors LP bought a new stake in shares of Unit Corp. during the second quarter worth about $2,596,000. Institutional investors own 91.28% of the company’s stock.
Shares of Unit Corp. (NYSE:UNT) opened at 18.60 on Monday. The company’s 50 day moving average price is $16.86 and its 200-day moving average price is $13.93. The firm’s market capitalization is $957.96 million. Unit Corp. has a 12 month low of $3.90 and a 12 month high of $19.53.
Unit Corp. (NYSE:UNT) last released its earnings results on Thursday, August 4th. The company reported ($0.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.07. Unit Corp. had a negative return on equity of 2.41% and a negative net margin of 95.26%. The firm had revenue of $138.30 million for the quarter, compared to the consensus estimate of $131.05 million. During the same period in the prior year, the business posted ($0.12) earnings per share. The firm’s revenue for the quarter was down 35.5% compared to the same quarter last year. On average, equities analysts predict that Unit Corp. will post ($0.61) earnings per share for the current fiscal year.
UNT has been the subject of a number of recent research reports. KLR Group raised their target price on Unit Corp. from $17.00 to $19.00 and gave the stock an “accumulate” rating in a research note on Friday, September 2nd. Zacks Investment Research downgraded Unit Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, September 21st. Finally, Seaport Global Securities reaffirmed a “buy” rating and issued a $22.00 target price on shares of Unit Corp. in a research note on Friday, June 24th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $19.14.
Unit Corp. 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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