Comerica Bank cut its stake in shares of Unit Co. (NYSE:UNT) by 8.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 52,479 shares of the oil and gas company’s stock after selling 4,752 shares during the period. Comerica Bank’s holdings in Unit were worth $1,240,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Strs Ohio acquired a new position in Unit during the second quarter valued at approximately $237,000. Fox Run Management L.L.C. acquired a new position in Unit during the third quarter valued at approximately $253,000. Meadow Creek Investment Management LLC boosted its position in Unit by 26.8% during the second quarter. Meadow Creek Investment Management LLC now owns 9,940 shares of the oil and gas company’s stock valued at $254,000 after purchasing an additional 2,100 shares during the last quarter. United Services Automobile Association acquired a new position in Unit during the second quarter valued at approximately $286,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Unit during the second quarter valued at approximately $292,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

Several brokerages recently commented on UNT. Stephens began coverage on Unit in a research report on Thursday. They set a “weight” rating and a $25.00 price target for the company. MKM Partners began coverage on Unit in a research note on Wednesday. They issued a “neutral” rating and a $20.00 price objective on the stock. ValuEngine upgraded Unit from a “hold” rating to a “buy” rating in a research note on Wednesday, November 7th. Zacks Investment Research lowered Unit from a “buy” rating to a “hold” rating in a research note on Wednesday, October 31st. Finally, KLR Group restated a “hold” rating and issued a $30.00 price objective on shares of Unit in a research note on Monday, August 20th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $26.43.

Shares of NYSE UNT opened at $19.19 on Friday. The company has a market cap of $1.09 billion, a PE ratio of 35.54 and a beta of 2.85. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.93 and a current ratio of 0.93. Unit Co. has a 1-year low of $16.17 and a 1-year high of $29.06.

Unit (NYSE:UNT) last announced its earnings results on Tuesday, November 6th. The oil and gas company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.07. The company had revenue of $220.10 million for the quarter, compared to analyst estimates of $212.34 million. Unit had a return on equity of 3.28% and a net margin of 14.60%. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 earnings per share. Equities research analysts predict that Unit Co. will post 0.96 earnings per share for the current year.

In other news, insider Robert Parks sold 22,806 shares of the stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $27.25, for a total transaction of $621,463.50. Following the transaction, the insider now owns 77,348 shares in the company, valued at $2,107,733. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.28% of the stock is currently owned by company insiders.

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Unit Company Profile

Unit Corporation, together with its subsidiaries, operates as a diversified energy company in the United States. The company operates through three segments: Oil and Natural Gas, Contract Drilling, and Mid-Stream. The Oil and Natural Gas segment acquires, explores, develops, and produces oil and natural gas properties.

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Institutional Ownership by Quarter for Unit (NYSE:UNT)

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