Geode Capital Management LLC grew its stake in Unit Co. (NYSE:UNT) by 5.5% during the fourth quarter, HoldingsChannel reports. The fund owned 563,315 shares of the oil and gas company’s stock after purchasing an additional 29,397 shares during the quarter. Geode Capital Management LLC’s holdings in Unit were worth $8,044,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. boosted its stake in shares of Unit by 2.5% during the fourth quarter. BlackRock Inc. now owns 7,954,804 shares of the oil and gas company’s stock valued at $113,595,000 after purchasing an additional 194,384 shares in the last quarter. Vanguard Group Inc boosted its stake in shares of Unit by 1.2% during the third quarter. Vanguard Group Inc now owns 5,603,923 shares of the oil and gas company’s stock valued at $146,037,000 after purchasing an additional 65,769 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Unit by 1.2% during the third quarter. Vanguard Group Inc. now owns 5,603,923 shares of the oil and gas company’s stock valued at $146,037,000 after purchasing an additional 65,769 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Unit by 3.2% during the third quarter. Bank of New York Mellon Corp now owns 971,362 shares of the oil and gas company’s stock valued at $25,313,000 after purchasing an additional 30,008 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of Unit by 78.8% during the fourth quarter. Prudential Financial Inc. now owns 718,080 shares of the oil and gas company’s stock valued at $10,254,000 after purchasing an additional 316,370 shares in the last quarter. Institutional investors and hedge funds own 89.21% of the company’s stock.
A number of research firms have recently issued reports on UNT. Zacks Investment Research upgraded shares of Unit from a “sell” rating to a “hold” rating in a research note on Friday, April 12th. ValuEngine upgraded shares of Unit from a “strong sell” rating to a “sell” rating in a research note on Wednesday, March 20th. Finally, Capital One Financial downgraded shares of Unit from an “overweight” rating to an “equal weight” rating in a research note on Thursday, December 20th. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. Unit presently has an average rating of “Hold” and a consensus target price of $26.50.
Shares of UNT opened at $15.50 on Wednesday. The company has a market capitalization of $860.81 million, a price-to-earnings ratio of 15.50 and a beta of 2.74. Unit Co. has a twelve month low of $13.19 and a twelve month high of $29.06. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.82 and a quick ratio of 0.82.
Unit (NYSE:UNT) last announced its earnings results on Thursday, February 21st. The oil and gas company reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.04). The firm had revenue of $214.80 million during the quarter, compared to analyst estimates of $213.99 million. Unit had a negative net margin of 5.37% and a positive return on equity of 3.31%. Unit’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $0.22 earnings per share. On average, equities analysts predict that Unit Co. will post 0.94 earnings per share for the current fiscal year.
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Unit Corporation, together with its subsidiaries, engages in the exploration, acquisition, development, and production of oil and natural gas properties in the United States. It operates through three segments: Oil and Natural Gas, Contract Drilling, and Mid-Stream. The Oil and Natural Gas segment explores for, acquires, develops, and produces oil and natural gas properties.
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