US Bancorp DE Decreases Stake in Unit Corporation (UNT)
US Bancorp DE reduced its stake in Unit Corporation (NYSE:UNT) by 3.1% during the second quarter, Holdings Channel reports. The firm owned 41,285 shares of the oil and gas company’s stock after selling 1,305 shares during the period. US Bancorp DE’s holdings in Unit Corporation were worth $773,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of UNT. BlackRock Inc. boosted its position in shares of Unit Corporation by 23,333.4% in the first quarter. BlackRock Inc. now owns 6,658,614 shares of the oil and gas company’s stock worth $160,872,000 after buying an additional 6,630,199 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Unit Corporation by 14.0% in the first quarter. Vanguard Group Inc. now owns 5,917,470 shares of the oil and gas company’s stock worth $142,966,000 after buying an additional 725,459 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Unit Corporation by 21.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,097,643 shares of the oil and gas company’s stock worth $74,838,000 after buying an additional 554,610 shares during the last quarter. Norges Bank bought a new position in shares of Unit Corporation during the fourth quarter worth about $14,007,000. Finally, Wells Fargo & Company MN boosted its position in shares of Unit Corporation by 464.7% in the first quarter. Wells Fargo & Company MN now owns 368,008 shares of the oil and gas company’s stock worth $8,891,000 after buying an additional 302,835 shares during the last quarter. 91.29% of the stock is owned by hedge funds and other institutional investors.
Shares of Unit Corporation (UNT) traded up 1.48% during mid-day trading on Friday, reaching $17.15. The company had a trading volume of 451,207 shares. The firm’s 50-day moving average price is $18.12 and its 200 day moving average price is $21.28. Unit Corporation has a 52-week low of $15.03 and a 52-week high of $30.63. The company has a market cap of $906.99 million, a price-to-earnings ratio of 329.81 and a beta of 2.76.
Unit Corporation (NYSE:UNT) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $170.58 million during the quarter, compared to analysts’ expectations of $178.59 million. Unit Corporation had a return on equity of 2.07% and a net margin of 0.39%. The business’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. Equities analysts expect that Unit Corporation will post $0.53 EPS for the current year.
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A number of research analysts have issued reports on UNT shares. Zacks Investment Research cut Unit Corporation from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 10th. Scotiabank reaffirmed a “hold” rating and issued a $26.00 price target on shares of Unit Corporation in a report on Friday, June 30th. KLR Group cut Unit Corporation from a “buy” rating to a “hold” rating and cut their price target for the company from $23.00 to $19.00 in a report on Tuesday, July 25th. Cowen and Company set a $25.00 price target on Unit Corporation and gave the company a “hold” rating in a report on Tuesday, July 18th. Finally, National Securities reaffirmed a “buy” rating and issued a $30.00 price target on shares of Unit Corporation in a report on Monday, May 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The company 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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