First Trust Advisors LP Takes Position in Unit Corp. (UNT)
First Trust Advisors LP purchased a new stake in Unit Corp. (NYSE:UNT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 166,851 shares of the company’s stock, valued at approximately $2,596,000. First Trust Advisors LP owned about 0.32% of Unit Corp. at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Aperio Group LLC raised its stake in shares of 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 during the period. 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 valued at $5,751,000 after buying an additional 21,783 shares during the period. Prudential Financial Inc. raised its stake in shares of Unit Corp. by 37.7% in the first quarter. Prudential Financial Inc. now owns 161,000 shares of the company’s stock valued at $1,418,000 after buying an additional 44,100 shares during the period. DUPONT CAPITAL MANAGEMENT Corp bought a new stake in shares of Unit Corp. during the second quarter valued at about $316,000. Finally, Virginia Retirement System bought a new stake in shares of Unit Corp. during the first quarter valued at about $487,000. Institutional investors and hedge funds own 91.43% of the company’s stock.
Shares of Unit Corp. (NYSE:UNT) traded up 0.13% during trading on Tuesday, hitting $15.33. The stock had a trading volume of 671,062 shares. Unit Corp. has a one year low of $3.90 and a one year high of $19.53. The stock’s 50-day moving average price is $15.88 and its 200-day moving average price is $13.54. The company’s market cap is $789.54 million.
Unit Corp. (NYSE:UNT) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.07. The business had revenue of $138.30 million for the quarter, compared to analyst estimates of $131.05 million. Unit Corp. had a negative return on equity of 2.41% and a negative net margin of 95.26%. The business’s revenue for the quarter was down 35.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.12) earnings per share. On average, equities research analysts forecast that Unit Corp. will post ($0.68) EPS for the current fiscal year.
A number of analysts have issued reports on UNT shares. KLR Group boosted their price target on shares of Unit Corp. from $17.00 to $19.00 and gave the stock an “accumulate” rating in a research note on Friday, September 2nd. Seaport Global Securities reiterated a “buy” rating and set a $22.00 price target on shares of Unit Corp. in a research note on Friday, June 24th. Finally, Zacks Investment Research upgraded shares of Unit Corp. from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Saturday, July 30th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target 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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