Unit Co. (UNT) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its stake in shares of Unit Co. (NYSE:UNT) by 12.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 590,325 shares of the oil and gas company’s stock after selling 81,132 shares during the period. JPMorgan Chase & Co.’s holdings in Unit were worth $15,384,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. American Century Companies Inc. raised its position in Unit by 2.0% in the third quarter. American Century Companies Inc. now owns 114,943 shares of the oil and gas company’s stock worth $2,995,000 after acquiring an additional 2,216 shares during the period. Martingale Asset Management L P raised its position in Unit by 6.3% in the third quarter. Martingale Asset Management L P now owns 40,747 shares of the oil and gas company’s stock worth $1,062,000 after acquiring an additional 2,415 shares during the period. Teachers Retirement System of The State of Kentucky raised its position in Unit by 30.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 19,344 shares of the oil and gas company’s stock worth $504,000 after acquiring an additional 4,500 shares during the period. Rhumbline Advisers raised its position in Unit by 4.5% in the third quarter. Rhumbline Advisers now owns 138,751 shares of the oil and gas company’s stock worth $3,616,000 after acquiring an additional 5,938 shares during the period. Finally, Chicago Equity Partners LLC raised its position in Unit by 21.8% in the third quarter. Chicago Equity Partners LLC now owns 34,121 shares of the oil and gas company’s stock worth $889,000 after acquiring an additional 6,116 shares during the period. Institutional investors own 89.88% of the company’s stock.

Shares of NYSE UNT opened at $15.55 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $847.09 million, a PE ratio of 28.80 and a beta of 2.86. Unit Co. has a 1 year low of $13.19 and a 1 year high of $29.06.

Several research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Unit from a “strong-buy” rating to a “hold” rating in a research report on Saturday, January 19th. ValuEngine downgraded shares of Unit from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 29th. Stephens assumed coverage on shares of Unit in a research report on Thursday, December 6th. They issued an “equal weight” rating and a $25.00 price target on the stock. MKM Partners assumed coverage on shares of Unit in a research report on Wednesday, December 5th. They issued a “neutral” rating and a $20.00 price target on the stock. Finally, Raymond James downgraded shares of Unit from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, December 13th. One analyst has rated the stock with a sell rating and nine have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $26.43.

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Unit Company 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.

Further Reading: What is a Reverse Stock Split?

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Institutional Ownership by Quarter for Unit (NYSE:UNT)

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