JPMorgan Chase & Co. reduced its holdings in shares of Unit Co. (NYSE:UNT) by 12.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 590,325 shares of the oil and gas company’s stock after selling 81,132 shares during the quarter. JPMorgan Chase & Co.’s holdings in Unit were worth $15,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Advisor Partners LLC bought a new position in Unit in the third quarter valued at about $201,000. Strs Ohio bought a new position in Unit in the second quarter valued at about $237,000. Fox Run Management L.L.C. bought a new position in Unit in the third quarter valued at about $253,000. Meadow Creek Investment Management LLC lifted its holdings in Unit by 26.8% in 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 acquiring an additional 2,100 shares during the period. Finally, United Services Automobile Association bought a new position in Unit in the second quarter valued at about $286,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

UNT stock opened at $19.19 on Friday. Unit Co. has a fifty-two week low of $16.17 and a fifty-two week high of $29.06. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 35.54 and a beta of 2.85.

Unit (NYSE:UNT) last posted its earnings results on Tuesday, November 6th. The oil and gas company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.07. The company had revenue of $220.10 million for the quarter, compared to the consensus estimate of $212.34 million. Unit had a return on equity of 3.28% and a net margin of 14.60%. Unit’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 earnings per share. On average, equities analysts predict that Unit Co. will post 0.96 earnings per share for the current year.

A number of research analysts have weighed in on UNT shares. SunTrust Banks reissued a “hold” rating and issued a $26.00 target price on shares of Unit in a report on Friday, August 10th. KLR Group reissued a “hold” rating and issued a $30.00 target price on shares of Unit in a report on Monday, August 20th. Zacks Investment Research raised Unit from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Saturday, September 8th. ValuEngine downgraded Unit from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, MKM Partners started coverage on Unit in a report on Wednesday. They issued a “neutral” rating and a $20.00 target price on the stock. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Unit presently has an average rating of “Hold” and an average price target of $26.43.

In other Unit news, insider Robert Parks sold 22,806 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $27.25, for a total value of $621,463.50. Following the completion of the sale, the insider now owns 77,348 shares in the company, valued at $2,107,733. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.28% of the company’s stock.

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Unit 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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