Shell Asset Management Co. reduced its position in shares of Unit Corp. (NYSE:UNT) by 5.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,860 shares of the company’s stock after selling 1,641 shares during the period. Shell Asset Management Co.’s holdings in Unit Corp. were worth $449,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. BlackRock Fund Advisors raised its stake in shares of Unit Corp. by 2.5% in the first quarter. BlackRock Fund Advisors now owns 3,402,546 shares of the company’s stock worth $29,976,000 after buying an additional 82,521 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Unit Corp. by 3.5% in the first quarter. JPMorgan Chase & Co. now owns 652,822 shares of the company’s stock worth $5,751,000 after buying an additional 21,783 shares in the last quarter. Guinness Asset Management Ltd raised its stake in shares of Unit Corp. by 12.9% in the second quarter. Guinness Asset Management Ltd now owns 349,823 shares of the company’s stock worth $5,443,000 after buying an additional 40,000 shares in the last quarter. HBK Investments L P raised its stake in shares of Unit Corp. by 3.3% in the first quarter. HBK Investments L P now owns 292,580 shares of the company’s stock worth $2,578,000 after buying an additional 9,455 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. raised its stake in shares of Unit Corp. by 23.3% in the first quarter. Global Alpha Capital Management Ltd. now owns 251,050 shares of the company’s stock worth $2,212,000 after buying an additional 47,500 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.
Shares of Unit Corp. (NYSE:UNT) traded up 4.64% on Monday, hitting $18.48. The stock had a trading volume of 649,209 shares. The company’s market cap is $951.78 million. The firm’s 50-day moving average is $17.22 and its 200-day moving average is $14.22. Unit Corp. has a one year low of $3.90 and a one year high of $19.60.
Unit Corp. (NYSE:UNT) last issued its earnings results on Thursday, August 4th. The company reported ($0.15) earnings per share for the quarter, topping the 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 business had revenue of $138.30 million for the quarter, compared to analyst estimates of $131.05 million. During the same quarter last year, the company earned ($0.12) EPS. The business’s quarterly revenue was down 35.5% on a year-over-year basis. On average, analysts expect that Unit Corp. will post ($0.61) EPS for the current fiscal year.
UNT has been the subject of a number of analyst reports. Seaport Global Securities reissued a “buy” rating and issued a $22.00 price target on shares of Unit Corp. in a report on Friday, June 24th. Zacks Investment Research downgraded Unit Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, September 21st. Finally, KLR Group boosted their price target on Unit Corp. from $17.00 to $19.00 and gave the company an “accumulate” rating in a report on Friday, September 2nd. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $18.50.
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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