Franklin Resources Inc. trimmed its holdings in Unit Corporation (NYSE:UNT) by 17.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,580,900 shares of the oil and gas company’s stock after selling 345,200 shares during the quarter. Franklin Resources Inc. owned about 2.99% of Unit Corporation worth $29,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. State of Tennessee Treasury Department lifted its stake in shares of Unit Corporation by 17.8% in the 1st quarter. State of Tennessee Treasury Department now owns 48,274 shares of the oil and gas company’s stock valued at $1,166,000 after purchasing an additional 7,285 shares during the period. Vident Investment Advisory LLC acquired a new position in shares of Unit Corporation in the 1st quarter valued at about $2,109,000. Bank of America Corp DE lifted its stake in shares of Unit Corporation by 67.2% in the 1st quarter. Bank of America Corp DE now owns 282,194 shares of the oil and gas company’s stock valued at $6,818,000 after purchasing an additional 113,455 shares during the period. Vanguard Group Inc. lifted its stake in shares of Unit Corporation by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 5,917,470 shares of the oil and gas company’s stock valued at $142,966,000 after purchasing an additional 725,459 shares during the period. Finally, Alambic Investment Management L.P. lifted its stake in shares of Unit Corporation by 12.6% in the 1st quarter. Alambic Investment Management L.P. now owns 11,600 shares of the oil and gas company’s stock valued at $280,000 after purchasing an additional 1,300 shares during the period. 92.57% of the stock is currently owned by institutional investors.
Shares of Unit Corporation (NYSE UNT) opened at 18.69 on Tuesday. The company has a 50-day moving average price of $17.07 and a 200-day moving average price of $19.39. The company has a market capitalization of $988.44 million, a price-to-earnings ratio of 359.42 and a beta of 2.79. Unit Corporation has a 12 month low of $15.03 and a 12 month high of $30.63.
Unit Corporation (NYSE:UNT) last announced its earnings results on Thursday, August 3rd. The oil and gas company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.01. Unit Corporation had a net margin of 0.39% and a return on equity of 2.07%. The business had revenue of $170.58 million during the quarter, compared to the consensus estimate of $178.59 million. During the same quarter last year, the firm earned ($0.15) earnings per share. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. On average, equities analysts anticipate that Unit Corporation will post $0.50 EPS for the current year.
A number of research analysts have recently issued reports on the company. Zacks Investment Research raised Unit Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Cowen and Company set a $25.00 target price on Unit Corporation and gave the company a “hold” rating in a research report on Tuesday, July 18th. Scotiabank reaffirmed a “hold” rating and issued a $26.00 target price on shares of Unit Corporation in a research report on Friday, June 30th. BidaskClub lowered Unit Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, KLR Group lowered Unit Corporation from a “buy” rating to a “hold” rating and decreased their target price for the company from $23.00 to $19.00 in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $26.00.
Unit Corporation 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.
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