Nordea Investment Management AB Invests $1.93 Million in Unit Corporation (UNT) Stock
Nordea Investment Management AB acquired a new position in shares of Unit Corporation (NYSE:UNT) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 102,955 shares of the oil and gas company’s stock, valued at approximately $1,928,000. Nordea Investment Management AB owned 0.19% of Unit Corporation as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in UNT. Ameritas Investment Partners Inc. purchased a new position in Unit Corporation during the 1st quarter worth $106,000. State of Alaska Department of Revenue increased its holdings in Unit Corporation by 82.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 10,428 shares of the oil and gas company’s stock worth $195,000 after purchasing an additional 4,728 shares during the period. Jane Street Group LLC purchased a new position in Unit Corporation during the 1st quarter worth $200,000. Laurion Capital Management LP purchased a new position in Unit Corporation during the 1st quarter worth $205,000. Finally, Wedge Capital Management L L P NC increased its holdings in Unit Corporation by 9.0% during the 2nd quarter. Wedge Capital Management L L P NC now owns 11,394 shares of the oil and gas company’s stock worth $213,000 after purchasing an additional 940 shares during the period. Institutional investors own 92.57% of the company’s stock.
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UNT has been the topic of several research reports. KLR Group upgraded Unit Corporation from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Wednesday, August 23rd. Zacks Investment Research upgraded Unit Corporation from a “sell” rating to a “hold” rating in a report on Friday, July 21st. 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 downgraded Unit Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $25.25.
Unit Corporation (NYSE UNT) opened at 20.35 on Thursday. Unit Corporation has a one year low of $15.29 and a one year high of $30.63. The stock has a market capitalization of $1.08 billion, a P/E ratio of 391.35 and a beta of 2.84. The stock has a 50 day moving average price of $17.86 and a 200-day moving average price of $19.17.
Unit Corporation (NYSE:UNT) last announced its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The business had revenue of $170.58 million for 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 company’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.15) earnings per share. Analysts anticipate that Unit Corporation will post $0.51 earnings per share for the current year.
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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