Global Alpha Capital Management Ltd. grew its stake in Unit Co. (NYSE:UNT) by 33.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 480,581 shares of the oil and gas company’s stock after acquiring an additional 120,700 shares during the quarter. Unit accounts for 3.0% of Global Alpha Capital Management Ltd.’s portfolio, making the stock its 14th biggest holding. Global Alpha Capital Management Ltd. owned about 0.89% of Unit worth $12,524,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Advisor Partners LLC bought a new stake in Unit in the third quarter worth $201,000. Quantbot Technologies LP purchased a new position in shares of Unit in the third quarter worth $212,000. Strs Ohio purchased a new position in shares of Unit in the second quarter worth $237,000. Fox Run Management L.L.C. purchased a new position in shares of Unit in the third quarter worth $253,000. Finally, Meadow Creek Investment Management LLC raised its stake in shares of Unit by 26.8% in the second quarter. Meadow Creek Investment Management LLC now owns 9,940 shares of the oil and gas company’s stock worth $254,000 after purchasing an additional 2,100 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently weighed in on UNT. Stephens began coverage on Unit in a research note on Thursday. They issued a “hold” rating and a $25.00 price target for the company. MKM Partners began coverage on Unit in a research note on Wednesday. They issued a “neutral” rating and a $20.00 price target for the company. ValuEngine upgraded Unit from a “hold” rating to a “buy” rating in a research note on Wednesday, November 7th. Zacks Investment Research cut Unit from a “buy” rating to a “hold” rating in a research note on Wednesday, October 31st. Finally, KLR Group restated a “hold” rating and issued a $30.00 price target on shares of Unit in a research note on Monday, August 20th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Unit presently has a consensus rating of “Hold” and a consensus target price of $26.43.
Unit stock opened at $20.13 on Thursday. The firm has a market cap of $1.09 billion, a P/E ratio of 37.28 and a beta of 2.85. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.93 and a quick ratio of 0.93. Unit Co. has a one year low of $16.17 and a one year high of $29.06.
Unit (NYSE:UNT) last posted its quarterly earnings data on Tuesday, November 6th. The oil and gas company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.07. The company had revenue of $220.10 million during the quarter, compared to analysts’ expectations of $212.34 million. Unit had a return on equity of 3.28% and a net margin of 14.60%. Unit’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 earnings per share. As a group, research analysts anticipate that Unit Co. will post 0.96 earnings per share for the current year.
In related news, insider Robert Parks sold 22,806 shares of the company’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $27.25, for a total transaction of $621,463.50. Following the completion of the sale, the insider now owns 77,348 shares in the company, valued at $2,107,733. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.28% of the stock is currently owned by corporate insiders.
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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.
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