Bank of Montreal Can Has $425,000 Stake in Unit Corporation (UNT)
Bank of Montreal Can lowered its stake in Unit Corporation (NYSE:UNT) by 1.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 22,671 shares of the oil and gas company’s stock after selling 419 shares during the period. Bank of Montreal Can’s holdings in Unit Corporation were worth $425,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of UNT. BlackRock Inc. boosted its stake in 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 valued at $160,872,000 after buying an additional 6,630,199 shares during the period. Vanguard Group Inc. boosted its stake in 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 valued at $142,966,000 after buying an additional 725,459 shares during the period. Dimensional Fund Advisors LP boosted its stake in 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 valued at $74,838,000 after buying an additional 554,610 shares during the period. Wells Fargo & Company MN boosted its stake in 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 valued at $8,891,000 after buying an additional 302,835 shares during the period. Finally, Prudential Financial Inc. boosted its stake in Unit Corporation by 50.4% in the first quarter. Prudential Financial Inc. now owns 894,330 shares of the oil and gas company’s stock valued at $21,607,000 after buying an additional 299,550 shares during the period. Institutional investors and hedge funds own 92.57% of the company’s stock.
Unit Corporation (NYSE:UNT) traded down 4.18% on Tuesday, reaching $15.35. The company’s stock had a trading volume of 150,339 shares. The company has a market capitalization of $811.80 million, a price-to-earnings ratio of 295.19 and a beta of 2.76. Unit Corporation has a 1-year low of $15.03 and a 1-year high of $30.63. The stock has a 50 day moving average price of $17.62 and a 200-day moving average price of $20.53.
Unit Corporation (NYSE:UNT) last announced its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Unit Corporation had a net margin of 0.39% and a return on equity of 2.07%. The company had revenue of $170.58 million during the quarter, compared to the consensus estimate of $178.59 million. During the same quarter last year, the firm posted ($0.15) EPS. The company’s quarterly revenue was up 23.3% on a year-over-year basis. Equities analysts predict that Unit Corporation will post $0.51 earnings per share for the current fiscal year.
Several equities research analysts have recently issued reports on UNT shares. KLR Group cut Unit Corporation from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $23.00 to $19.00 in a report on Tuesday, July 25th. Zacks Investment Research cut Unit Corporation from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 10th. Cowen and Company set a $25.00 price objective on Unit Corporation and gave the stock a “hold” rating in a report on Tuesday, July 18th. Scotiabank restated a “hold” rating and set a $26.00 price objective on shares of Unit Corporation in a report on Friday, June 30th. Finally, BidaskClub cut Unit Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $26.00.
About Unit Corporation
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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