BNP Paribas Arbitrage SA reduced its stake in shares of Unit Co. (NYSE:UNT) by 35.2% in the 1st quarter, HoldingsChannel reports. The fund owned 21,048 shares of the oil and gas company’s stock after selling 11,438 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Unit were worth $416,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Quantbot Technologies LP raised its stake in Unit by 261.3% during the first quarter. Quantbot Technologies LP now owns 12,475 shares of the oil and gas company’s stock worth $246,000 after acquiring an additional 9,022 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Unit by 5.2% during the first quarter. Dimensional Fund Advisors LP now owns 4,468,928 shares of the oil and gas company’s stock worth $88,306,000 after acquiring an additional 221,893 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in Unit by 5.1% during the first quarter. Great West Life Assurance Co. Can now owns 71,669 shares of the oil and gas company’s stock worth $1,414,000 after acquiring an additional 3,456 shares in the last quarter. Natixis Advisors L.P. acquired a new position in Unit during the first quarter worth $1,819,000. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in Unit during the first quarter worth $20,918,000. Hedge funds and other institutional investors own 92.63% of the company’s stock.
A number of analysts have recently weighed in on UNT shares. Johnson Rice started coverage on Unit in a research note on Wednesday, March 21st. They issued a “hold” rating and a $26.00 target price for the company. SunTrust Banks lowered Unit from a “buy” rating to a “hold” rating and set a $22.00 target price for the company. in a research note on Tuesday, March 27th. Zacks Investment Research lowered Unit from a “hold” rating to a “strong sell” rating in a research note on Friday, April 13th. Finally, ValuEngine upgraded Unit from a “sell” rating to a “hold” rating in a research note on Thursday, April 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $23.83.
Shares of NYSE:UNT opened at $25.88 on Thursday. Unit Co. has a twelve month low of $15.29 and a twelve month high of $26.82. The firm has a market capitalization of $1.32 billion, a PE ratio of 47.93 and a beta of 2.89. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.51 and a quick ratio of 0.51.
Unit (NYSE:UNT) last announced its earnings results on Thursday, May 3rd. The oil and gas company reported $0.21 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.21. Unit had a return on equity of 2.40% and a net margin of 14.27%. The company had revenue of $205.10 million during the quarter, compared to analyst estimates of $204.52 million. During the same period last year, the company posted $0.15 earnings per share. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. equities analysts anticipate that Unit Co. will post 0.76 earnings per share for the current year.
Unit Corporation, together with its subsidiaries, operates as an oil and natural gas contract drilling 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, principally located in Oklahoma and Texas, as well as in Arkansas, Colorado, Kansas, Louisiana, Mississippi, Montana, New Mexico, North Dakota, Utah, and Wyoming.
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