Public Employees Retirement System of Ohio reduced its stake in shares of Unit Corporation (NYSE:UNT) by 11.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,945 shares of the oil and gas company’s stock after selling 1,501 shares during the period. Public Employees Retirement System of Ohio’s holdings in Unit Corporation were worth $289,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. Ameritas Investment Partners Inc. bought a new position in shares of Unit Corporation during the first quarter valued at $106,000. State of Alaska Department of Revenue boosted its stake in 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 worth $137,000 after buying an additional 130 shares during the last quarter. Acrospire Investment Management LLC boosted its stake in 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 worth $164,000 after buying an additional 1,100 shares during the last quarter. Jane Street Group LLC acquired a new stake in Unit Corporation during the first quarter worth approximately $200,000. Finally, Laurion Capital Management LP acquired a new stake in Unit Corporation during the first quarter worth approximately $205,000. 91.60% of the stock is owned by institutional investors and hedge funds.
Unit Corporation (UNT) opened at 16.03 on Friday. The stock has a market cap of $847.76 million, a price-to-earnings ratio of 308.27 and a beta of 2.76. The stock’s 50 day moving average price is $17.90 and its 200 day moving average price is $20.89. Unit Corporation has a one year low of $14.39 and a one year high of $30.63.
Unit Corporation (NYSE:UNT) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported $0.07 earnings per share (EPS) 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 company had revenue of $170.58 million during the quarter, compared to the consensus estimate of $178.59 million. During the same period last year, the firm earned ($0.15) EPS. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. Equities analysts predict that Unit Corporation will post $0.53 earnings per share for the current fiscal year.
A number of research firms have recently commented on UNT. Zacks Investment Research upgraded Unit Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. 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. National Securities reissued a “buy” rating and issued a $30.00 price objective on shares of Unit Corporation in a report on Monday, May 8th. Scotiabank reissued a “hold” rating and issued a $26.00 price objective on shares of Unit Corporation in a report on Friday, June 30th. Finally, BidaskClub lowered Unit Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $25.80.
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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