Jane Street Group LLC Takes $370,000 Position in Unit Co. (UNT)

Jane Street Group LLC bought a new position in Unit Co. (NYSE:UNT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 14,477 shares of the oil and gas company’s stock, valued at approximately $370,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Millennium Management LLC bought a new position in Unit in the 2nd quarter worth about $13,689,000. Voya Investment Management LLC boosted its stake in Unit by 3.3% in the 2nd quarter. Voya Investment Management LLC now owns 1,542,052 shares of the oil and gas company’s stock worth $39,414,000 after purchasing an additional 48,710 shares in the last quarter. Laurion Capital Management LP bought a new position in Unit in the 2nd quarter worth about $390,000. Glen Harbor Capital Management LLC boosted its stake in Unit by 26.8% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 12,070 shares of the oil and gas company’s stock worth $309,000 after purchasing an additional 2,550 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. boosted its stake in Unit by 27.8% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 216,172 shares of the oil and gas company’s stock worth $5,525,000 after purchasing an additional 47,000 shares in the last quarter. 95.77% of the stock is currently owned by institutional investors.

In other news, insider Robert Parks sold 22,806 shares of the company’s stock in a transaction dated Friday, September 14th. The shares were 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 of the company’s stock, valued at approximately $2,107,733. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.17% of the stock is currently owned by corporate insiders.

Several research firms have issued reports on UNT. Zacks Investment Research upgraded shares of Unit from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Saturday, September 8th. ValuEngine upgraded shares of Unit from a “hold” rating to a “buy” rating in a research note on Thursday, June 21st. KLR Group restated a “hold” rating and set a $30.00 target price on shares of Unit in a research note on Monday, August 20th. SunTrust Banks restated a “hold” rating and set a $26.00 target price on shares of Unit in a research note on Friday, August 10th. Finally, Cowen set a $30.00 target price on shares of Unit and gave the company a “hold” rating in a research note on Thursday, July 19th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $27.17.

UNT opened at $26.51 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.39. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 47.42 and a beta of 3.00. Unit Co. has a 52-week low of $16.17 and a 52-week high of $29.06.

Unit (NYSE:UNT) last posted its earnings results on Thursday, August 9th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.07. The business had revenue of $203.30 million for the quarter, compared to analysts’ expectations of $202.88 million. Unit had a net margin of 13.28% and a return on equity of 2.78%. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.07 EPS. As a group, analysts expect that Unit Co. will post 0.86 EPS for the current year.

Unit Profile

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.

Featured Article: Understanding Price to Earnings Ratio (PE)

Want to see what other hedge funds are holding UNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Unit Co. (NYSE:UNT).

Institutional Ownership by Quarter for Unit (NYSE:UNT)

Receive News & Ratings for Unit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Unit and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply