Unit Corporation (NYSE:UNT) Position Cut by Granite Investment Advisors LLC
Granite Investment Advisors LLC lowered its position in shares of Unit Corporation (NYSE:UNT) by 5.2% during the second quarter, Holdings Channel reports. The fund owned 20,959 shares of the oil and gas company’s stock after selling 1,160 shares during the period. Granite Investment Advisors LLC’s holdings in Unit Corporation were worth $372,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Ameritas Investment Partners Inc. acquired a new position in Unit Corporation during the first quarter worth about $106,000. State of Alaska Department of Revenue boosted its position in Unit Corporation by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 5,700 shares of the oil and gas company’s stock worth $137,000 after buying an additional 130 shares during the last quarter. Acrospire Investment Management LLC boosted its position in Unit Corporation by 19.4% in the first quarter. Acrospire Investment Management LLC now owns 6,777 shares of the oil and gas company’s stock worth $164,000 after buying an additional 1,100 shares during the last quarter. Jane Street Group LLC acquired a new position in Unit Corporation during the first quarter worth about $200,000. Finally, Laurion Capital Management LP acquired a new position in Unit Corporation during the first quarter worth about $205,000. Institutional investors own 91.29% of the company’s stock.
Shares of Unit Corporation (UNT) opened at 17.15 on Friday. The firm’s 50-day moving average price is $18.12 and its 200-day moving average price is $21.28. The company has a market capitalization of $906.99 million, a price-to-earnings ratio of 329.81 and a beta of 2.76. Unit Corporation has a 12 month low of $15.03 and a 12 month high of $30.63.
Unit Corporation (NYSE:UNT) last released its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. Unit Corporation had a return on equity of 2.07% and a net margin of 0.39%. The business had revenue of $170.58 million during the quarter, compared to analyst estimates of $178.59 million. During the same period last year, the business posted ($0.15) earnings per share. The company’s quarterly revenue was up 23.3% on a year-over-year basis. Equities research analysts expect that Unit Corporation will post $0.53 EPS for the current year.
UNT has been the subject of a number of recent analyst reports. National Securities restated a “buy” rating and set a $30.00 price objective on shares of Unit Corporation in a report on Monday, May 8th. KLR Group upgraded Unit Corporation from a “reduce” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Friday, May 5th. Zacks Investment Research upgraded Unit Corporation from a “sell” rating to a “hold” rating in a report on Friday, July 21st. Cowen and Company set a $25.00 price objective on Unit Corporation and gave the company a “hold” rating in a report on Tuesday, July 18th. Finally, Scotiabank reaffirmed a “hold” rating and set a $26.00 target price on shares of Unit Corporation in a research report on Friday, June 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $25.80.
Unit Corporation 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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