Unit Corp. (UNT) Shares Bought by PineBridge Investments L.P.
PineBridge Investments L.P. raised its stake in Unit Corp. (NYSE:UNT) by 10.1% during the second quarter, Holdings Channel reports. The fund owned 6,521 shares of the company’s stock after buying an additional 597 shares during the period. PineBridge Investments L.P.’s holdings in Unit Corp. were worth $101,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Arizona State Retirement System boosted its stake in shares of Unit Corp. by 0.4% in the first quarter. Arizona State Retirement System now owns 26,149 shares of the company’s stock valued at $230,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in Unit Corp. by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 22,800 shares of the company’s stock valued at $355,000 after buying an additional 200 shares in the last quarter. Capstone Asset Management Co. boosted its position in Unit Corp. by 2.2% in the second quarter. Capstone Asset Management Co. now owns 14,743 shares of the company’s stock valued at $229,000 after buying an additional 320 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Unit Corp. by 20.1% in the second quarter. Teacher Retirement System of Texas now owns 6,998 shares of the company’s stock valued at $109,000 after buying an additional 1,170 shares in the last quarter. Finally, Aperio Group LLC boosted its position in Unit Corp. by 19.2% in the first quarter. Aperio Group LLC now owns 30,511 shares of the company’s stock valued at $269,000 after buying an additional 4,917 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.
Shares of Unit Corp. (NYSE:UNT) opened at 18.51 on Friday. The company has a 50-day moving average price of $17.21 and a 200 day moving average price of $14.17. Unit Corp. has a 1-year low of $3.90 and a 1-year high of $19.60. The company’s market capitalization is $953.32 million.
Unit Corp. (NYSE:UNT) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.15) earnings per share for the quarter, beating 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 earned $138.30 million during the quarter, compared to analyst estimates of $131.05 million. During the same period in the prior year, the company earned ($0.12) earnings per share. Unit Corp.’s revenue was down 35.5% compared to the same quarter last year. Equities research analysts anticipate that Unit Corp. will post ($0.61) EPS for the current year.
Several research firms recently issued reports on UNT. Zacks Investment Research cut Unit Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, September 21st. KLR Group raised 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. Finally, Seaport Global Securities reiterated a “buy” rating and issued a $22.00 price target on shares of Unit Corp. in a report on Friday, June 24th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Unit Corp. presently has a consensus rating of “Buy” and an average target price of $19.14.
About Unit Corp.
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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