Unit Co. (UNT) Shares Bought by Northern Trust Corp

Northern Trust Corp grew its stake in shares of Unit Co. (NYSE:UNT) by 1.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,647,306 shares of the oil and gas company’s stock after buying an additional 17,356 shares during the period. Northern Trust Corp owned approximately 3.05% of Unit worth $42,105,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in Unit in the first quarter worth about $110,000. WINTON GROUP Ltd acquired a new position in Unit in the first quarter worth about $225,000. Strs Ohio acquired a new position in Unit in the second quarter worth about $237,000. Meadow Creek Investment Management LLC raised its position in 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 in the last quarter. Finally, Koch Industries Inc. acquired a new position in Unit in the first quarter worth about $267,000. 95.77% of the stock is owned by institutional investors and hedge funds.

In other Unit 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 sale, the insider now directly owns 77,348 shares of the company’s stock, valued at $2,107,733. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.17% of the stock is currently owned by corporate insiders.

Shares of Unit stock 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 49.09 and a beta of 3.00. Unit Co. has a 1-year low of $16.17 and a 1-year high of $29.06.

Unit (NYSE:UNT) last issued its quarterly earnings data on Thursday, August 9th. The oil and gas company reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.07. The firm 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 company’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.07 earnings per share. As a group, equities analysts anticipate that Unit Co. will post 0.86 EPS for the current year.

Several analysts have weighed in on UNT shares. Zacks Investment Research raised shares of Unit from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 20th. ValuEngine raised shares of Unit from a “hold” rating to a “buy” rating in a research note on Thursday, June 21st. Cowen set a $30.00 price objective on shares of Unit and gave the stock a “hold” rating in a research note on Thursday, July 19th. SunTrust Banks reaffirmed a “hold” rating and set a $26.00 price objective on shares of Unit in a research note on Friday, August 10th. Finally, KLR Group reaffirmed a “hold” rating and set a $30.00 price objective on shares of Unit in a research note on Monday, August 20th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $27.17.

Unit Company 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: How Buying a Call Option Works

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