Royce & Associates LP Cuts Holdings in Unit Corporation (UNT)
Royce & Associates LP reduced its position in shares of Unit Corporation (NYSE:UNT) by 8.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 856,258 shares of the oil and gas company’s stock after selling 74,817 shares during the period. Royce & Associates LP owned 1.62% of Unit worth $17,622,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. First Trust Advisors LP increased its stake in Unit by 147.3% during the 2nd quarter. First Trust Advisors LP now owns 110,947 shares of the oil and gas company’s stock worth $2,078,000 after buying an additional 66,090 shares in the last quarter. Icon Advisers Inc. Co. acquired a new position in shares of Unit during the 2nd quarter worth approximately $2,688,000. Vanguard Group Inc. boosted its holdings in shares of Unit by 8.6% during the 2nd quarter. Vanguard Group Inc. now owns 6,428,609 shares of the oil and gas company’s stock worth $120,407,000 after purchasing an additional 511,139 shares during the last quarter. Systematic Financial Management LP boosted its holdings in shares of Unit by 54.5% during the 2nd quarter. Systematic Financial Management LP now owns 98,525 shares of the oil and gas company’s stock worth $1,845,000 after purchasing an additional 34,760 shares during the last quarter. Finally, Cipher Capital LP boosted its holdings in shares of Unit by 85.9% during the 2nd quarter. Cipher Capital LP now owns 122,428 shares of the oil and gas company’s stock worth $2,293,000 after purchasing an additional 56,569 shares during the last quarter. Institutional investors own 95.15% of the company’s stock.
Several brokerages have recently weighed in on UNT. ValuEngine cut Unit from a “hold” rating to a “sell” rating in a report on Thursday, November 30th. Zacks Investment Research cut Unit from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Scotiabank restated a “hold” rating and set a $23.00 target price on shares of Unit in a report on Friday, November 3rd. SunTrust Banks restated a “buy” rating and set a $25.00 target price on shares of Unit in a report on Friday, November 3rd. Finally, KLR Group cut Unit from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $24.60.
Unit Corporation (UNT) traded up $0.08 on Monday, reaching $19.87. The company had a trading volume of 246,200 shares, compared to its average volume of 585,337. Unit Corporation has a 12-month low of $15.29 and a 12-month high of $30.63. The firm has a market capitalization of $1,050.72, a PE ratio of 36.13 and a beta of 2.90. The company has a quick ratio of 0.66, a current ratio of 0.67 and a debt-to-equity ratio of 0.64.
Unit (NYSE:UNT) last released its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Unit had a net margin of 4.28% and a return on equity of 2.33%. The business had revenue of $188.49 million during the quarter, compared to analyst estimates of $189.44 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. The company’s revenue was up 22.9% on a year-over-year basis. equities analysts predict that Unit Corporation will post 0.51 earnings per share for the current year.
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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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