Unit Corp. (UNT) Stake Increased by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. raised its position in Unit Corp. (NYSE:UNT) by 43.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,665 shares of the company’s stock after buying an additional 21,007 shares during the period. UBS Asset Management Americas Inc. owned about 0.14% of Unit Corp. worth $1,084,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. BlackRock Fund Advisors raised its position 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 during the period. 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 period. Bank of New York Mellon Corp raised its position in shares of Unit Corp. by 5.1% in the second quarter. Bank of New York Mellon Corp now owns 1,016,757 shares of the company’s stock worth $15,821,000 after buying an additional 49,563 shares during the period. JPMorgan Chase & Co. raised its position 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 during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Unit Corp. by 2.7% in the second quarter. Ameriprise Financial Inc. now owns 554,893 shares of the company’s stock worth $8,634,000 after buying an additional 14,446 shares during the period. 91.22% of the stock is owned by institutional investors and hedge funds.
Shares of Unit Corp. (NYSE:UNT) opened at 17.50 on Monday. The stock’s market capitalization is $901.30 million. The company has a 50-day moving average of $17.34 and a 200 day moving average of $14.49. Unit Corp. has a 12-month low of $3.90 and a 12-month high of $19.60.
Unit Corp. (NYSE:UNT) last issued its quarterly 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. The business earned $138.30 million during the quarter, compared to the consensus estimate of $131.05 million. Unit Corp. had a negative return on equity of 2.41% and a negative net margin of 95.26%. The company’s quarterly revenue was down 35.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.12) earnings per share. Analysts predict that Unit Corp. will post ($0.61) earnings per share for the current year.
UNT has been the subject of several research reports. Seaport Global Securities reaffirmed a “buy” rating and set a $22.00 price target on shares of Unit Corp. in a research report on Friday, June 24th. Zacks Investment Research lowered shares of Unit Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, September 21st. Finally, KLR Group upped their price target on shares of Unit Corp. from $17.00 to $19.00 and gave the company an “accumulate” rating in a research 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 has an average rating of “Buy” and a consensus price target 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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