BNP Paribas Arbitrage SA boosted its position in shares of Unit Co. (NYSE:UNT) by 713.7% during the first quarter, HoldingsChannel.com reports. The firm owned 37,992 shares of the oil and gas company’s stock after buying an additional 33,323 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Unit were worth $541,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. raised its stake in Unit by 1,732.8% during the fourth quarter. Meeder Asset Management Inc. now owns 4,197 shares of the oil and gas company’s stock worth $61,000 after purchasing an additional 3,968 shares during the period. Nisa Investment Advisors LLC raised its stake in Unit by 1,200.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,875 shares of the oil and gas company’s stock worth $70,000 after purchasing an additional 4,500 shares during the period. CoreCommodity Management LLC purchased a new position in Unit during the fourth quarter worth about $134,000. Rafferty Asset Management LLC purchased a new position in Unit during the fourth quarter worth about $154,000. Finally, United Services Automobile Association raised its stake in shares of Unit by 7.3% in the 4th quarter. United Services Automobile Association now owns 12,302 shares of the oil and gas company’s stock valued at $176,000 after acquiring an additional 838 shares during the period. 88.91% of the stock is currently owned by institutional investors.
Unit stock opened at $11.77 on Thursday. The company has a market capitalization of $613.48 million, a PE ratio of 11.77 and a beta of 2.67. Unit Co. has a 1 year low of $11.01 and a 1 year high of $29.06. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.43.
Unit (NYSE:UNT) last released its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.08). The company had revenue of $189.70 million during the quarter, compared to analysts’ expectations of $202.16 million. Unit had a negative net margin of 6.84% and a positive return on equity of 2.79%. Unit’s revenue was down 7.5% on a year-over-year basis. During the same period last year, the firm posted $0.21 earnings per share. On average, research analysts forecast that Unit Co. will post 0.75 EPS for the current year.
A number of research firms have recently issued reports on UNT. ValuEngine raised shares of Unit from a “strong sell” rating to a “sell” rating in a research note on Wednesday, March 20th. Zacks Investment Research raised shares of Unit from a “sell” rating to a “hold” rating in a research note on Friday, April 12th. Finally, Raymond James set a $22.00 price target on shares of Unit and gave the company a “buy” rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. Unit has an average rating of “Hold” and an average price target of $24.29.
In related news, insider Robert Parks sold 30,000 shares of Unit stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $14.65, for a total value of $439,500.00. Following the completion of the transaction, the insider now owns 76,195 shares in the company, valued at $1,116,256.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director G Bailey Iv Peyton acquired 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was acquired at an average price of $11.65 per share, with a total value of $34,950.00. Following the acquisition, the director now directly owns 71,652 shares of the company’s stock, valued at approximately $834,745.80. The disclosure for this purchase can be found here. Insiders sold 37,181 shares of company stock valued at $549,348 in the last 90 days. Company insiders own 5.16% of the company’s stock.
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Unit Company Profile
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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