Numeric Investors LLC Acquires New Stake in Unit Co. (UNT)

Numeric Investors LLC purchased a new position in Unit Co. (NYSE:UNT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,800 shares of the oil and gas company’s stock, valued at approximately $236,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in UNT. Municipal Employees Retirement System of Michigan raised its stake in shares of Unit by 1.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 11,410 shares of the oil and gas company’s stock valued at $212,000 after buying an additional 160 shares during the period. Stevens Capital Management LP purchased a new stake in shares of Unit during the third quarter valued at $251,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in shares of Unit during the third quarter valued at $266,000. Federated Investors Inc. PA purchased a new stake in shares of Unit during the fourth quarter valued at $507,000. Finally, Martingale Asset Management L P purchased a new stake in shares of Unit during the fourth quarter valued at $664,000. Institutional investors own 95.56% of the company’s stock.

Institutional Ownership by Quarter for Unit (NYSE:UNT)

Shares of Unit Co. (NYSE:UNT) traded down 0.19% during midday trading on Thursday, hitting $20.90. The stock had a trading volume of 356,377 shares. The stock’s market capitalization is $1.08 billion. The stock has a 50 day moving average price of $22.95 and a 200-day moving average price of $23.52. Unit Co. has a 52 week low of $9.95 and a 52 week high of $30.63.

Unit (NYSE:UNT) last posted its earnings results on Thursday, February 23rd. The oil and gas company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.16. Unit had a negative net margin of 74.42% and a negative return on equity of 2.61%. The company had revenue of $174.30 million for the quarter, compared to analyst estimates of $168.29 million. During the same quarter in the prior year, the business posted ($0.14) EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. Equities research analysts anticipate that Unit Co. will post $1.15 earnings per share for the current year.

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Several analysts have recently weighed in on the company. Zacks Investment Research lowered Unit from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 9th. Scotiabank set a $29.00 target price on Unit and gave the stock a “hold” rating in a research report on Monday, March 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $23.17.

Unit Company Profile

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.

5 Day Chart for NYSE:UNT

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