Credit Suisse AG Sells 35,847 Shares of Unit Corporation (NYSE:UNT)
Credit Suisse AG lowered its stake in shares of Unit Corporation (NYSE:UNT) by 33.4% during the first quarter, Holdings Channel reports. The institutional investor owned 71,549 shares of the oil and gas company’s stock after selling 35,847 shares during the period. Credit Suisse AG’s holdings in Unit Corporation were worth $1,729,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in UNT. Ameritas Investment Partners Inc. purchased a new stake in shares of Unit Corporation during the first quarter valued at $106,000. State of Alaska Department of Revenue boosted its stake in shares of 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 valued at $137,000 after buying an additional 130 shares during the last quarter. Acrospire Investment Management LLC boosted its stake in shares of 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 valued at $164,000 after buying an additional 1,100 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Unit Corporation during the first quarter valued at $200,000. Finally, Laurion Capital Management LP purchased a new stake in shares of Unit Corporation during the first quarter valued at $205,000. 91.29% of the stock is currently owned by institutional investors.
Unit Corporation (NYSE UNT) traded up 1.48% during midday trading on Friday, hitting $17.15. 451,207 shares of the stock traded hands. The company has a market cap of $906.99 million, a price-to-earnings ratio of 329.81 and a beta of 2.76. The firm’s 50-day moving average is $18.12 and its 200-day moving average is $21.28. Unit Corporation has a 52-week low of $15.03 and a 52-week high of $30.63.
Unit Corporation (NYSE:UNT) last posted its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.01. Unit Corporation had a net margin of 0.39% and a return on equity of 2.07%. The business had revenue of $170.58 million for the quarter, compared to analysts’ expectations of $178.59 million. During the same quarter in the previous year, the business posted ($0.15) earnings per share. The business’s revenue was up 23.3% compared to the same quarter last year. Analysts predict that Unit Corporation will post $0.53 EPS for the current year.
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Several brokerages have weighed in on UNT. Zacks Investment Research raised shares of Unit Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Scotiabank set a $26.00 price target on shares of Unit Corporation and gave the company a “hold” rating in a research report on Thursday, August 3rd. BidaskClub cut shares of Unit Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. National Securities reissued a “buy” rating and set a $30.00 price target on shares of Unit Corporation in a research report on Monday, May 8th. Finally, KLR Group raised shares of Unit Corporation from a “reduce” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Friday, May 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Unit Corporation currently has an average 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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