Systematic Financial Management LP reduced its holdings in Unit Corporation (NYSE:UNT) by 8.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 90,240 shares of the oil and gas company’s stock after selling 8,285 shares during the quarter. Systematic Financial Management LP owned about 0.17% of Unit worth $1,857,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of UNT. Geode Capital Management LLC grew its position in shares of Unit by 2.5% in the 1st quarter. Geode Capital Management LLC now owns 385,061 shares of the oil and gas company’s stock worth $9,303,000 after buying an additional 9,554 shares during the last quarter. State Street Corp grew its position in shares of Unit by 8.5% in the 1st quarter. State Street Corp now owns 1,678,306 shares of the oil and gas company’s stock worth $40,546,000 after buying an additional 131,177 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Unit by 13.8% in the 1st quarter. AQR Capital Management LLC now owns 71,459 shares of the oil and gas company’s stock worth $1,726,000 after buying an additional 8,676 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Unit by 82.9% in 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 buying an additional 4,728 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its position in shares of Unit by 2.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 21,500 shares of the oil and gas company’s stock worth $403,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 92.45% of the company’s stock.

UNT has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Unit from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Scotiabank reiterated a “hold” rating and issued a $23.00 price objective on shares of Unit in a research report on Friday, November 3rd. Cowen Inc reiterated a “hold” rating and issued a $25.00 price objective on shares of Unit in a research report on Sunday, September 17th. KLR Group upgraded Unit from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Wednesday, August 23rd. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and issued a $25.00 price objective on shares of Unit in a research report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Unit currently has a consensus rating of “Hold” and a consensus target price of $24.60.

Unit Corporation (NYSE:UNT) traded down $0.09 during midday trading on Friday, hitting $21.19. The company had a trading volume of 148,645 shares, compared to its average volume of 456,643. 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 Corporation has a one year low of $15.29 and a one year high of $30.63. The company has a market capitalization of $1,120.00, a price-to-earnings ratio of 38.53 and a beta of 2.84.

Unit (NYSE:UNT) last released its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.01). Unit had a net margin of 4.28% and a return on equity of 2.33%. The firm had revenue of $188.49 million for the quarter, compared to the consensus estimate of $189.44 million. During the same quarter in the prior year, the firm earned $0.04 earnings per share. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. research analysts predict that Unit Corporation will post 0.51 EPS for the current year.

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About Unit

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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Institutional Ownership by Quarter for Unit (NYSE:UNT)

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