State Board of Administration of Florida Retirement System cut its stake in Unit Corp. (NYSE:UNT) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,361 shares of the company’s stock after selling 41 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.09% of Unit Corp. worth $752,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Capstone Asset Management Co. raised its position in shares of Unit Corp. by 2.2% in the second quarter. Capstone Asset Management Co. now owns 14,743 shares of the company’s stock worth $229,000 after buying an additional 320 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Unit Corp. by 231.9% in the second quarter. BNP Paribas Arbitrage SA now owns 29,297 shares of the company’s stock worth $456,000 after buying an additional 20,471 shares during the last quarter. Avalon Advisors LLC raised its position in shares of Unit Corp. by 266.4% in the first quarter. Avalon Advisors LLC now owns 82,927 shares of the company’s stock worth $731,000 after buying an additional 60,295 shares during the last quarter. Arizona State Retirement System raised its position in shares of Unit Corp. by 0.4% in the first quarter. Arizona State Retirement System now owns 26,149 shares of the company’s stock worth $230,000 after buying an additional 100 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of Unit Corp. by 13.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 49,059 shares of the company’s stock worth $432,000 after buying an additional 5,881 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.
Shares of Unit Corp. (NYSE:UNT) traded up 5.688% on Friday, hitting $18.675. 395,371 shares of the company were exchanged. Unit Corp. has a 52-week low of $3.90 and a 52-week high of $19.53. The firm’s 50-day moving average is $16.74 and its 200-day moving average is $13.86. The stock’s market capitalization is $961.82 million.
Unit Corp. (NYSE:UNT) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.07. The business earned $138.30 million during the quarter, compared to the consensus estimate of $131.05 million. Unit Corp. had a negative net margin of 95.26% and a negative return on equity of 2.41%. The company’s revenue was down 35.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. Equities research analysts predict that Unit Corp. will post ($0.61) earnings per share for the current year.
A number of research analysts have recently weighed in on UNT shares. Seaport Global Securities restated a “buy” rating and set a $22.00 price objective on shares of Unit Corp. in a research report on Friday, June 24th. Zacks Investment Research lowered Unit Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, September 21st. Finally, KLR Group raised their price objective on Unit Corp. from $17.00 to $19.00 and gave the company an “accumulate” rating in a research report on Friday, September 2nd. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $19.14.
About Unit Corp.
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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