BNP Paribas Arbitrage SA Purchases 11,649 Shares of Unit Corporation (UNT)

BNP Paribas Arbitrage SA raised its position in shares of Unit Corporation (NYSE:UNT) by 46.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,837 shares of the oil and gas company’s stock after purchasing an additional 11,649 shares during the period. BNP Paribas Arbitrage SA owned 0.07% of Unit Corporation worth $690,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc raised its stake in shares of Unit Corporation by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 195,764 shares of the oil and gas company’s stock worth $3,662,000 after purchasing an additional 1,079 shares in the last quarter. Falcon Point Capital LLC raised its stake in shares of Unit Corporation by 24.7% during the 2nd quarter. Falcon Point Capital LLC now owns 90,461 shares of the oil and gas company’s stock worth $1,694,000 after purchasing an additional 17,897 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Unit Corporation by 3.9% during the 2nd quarter. Rhumbline Advisers now owns 117,368 shares of the oil and gas company’s stock worth $2,198,000 after purchasing an additional 4,441 shares in the last quarter. Wedge Capital Management L L P NC raised its stake in shares of Unit Corporation by 9.0% during the 2nd quarter. Wedge Capital Management L L P NC now owns 11,394 shares of the oil and gas company’s stock worth $213,000 after purchasing an additional 940 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Unit Corporation by 147.3% during the 2nd quarter. First Trust Advisors LP now owns 110,947 shares of the oil and gas company’s stock worth $2,078,000 after purchasing an additional 66,090 shares in the last quarter. 92.57% of the stock is owned by institutional investors.

A number of equities research analysts have recently weighed in 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. Scotiabank set a $26.00 price target on Unit Corporation and gave the stock a “hold” rating in a research note on Thursday, August 3rd. BidaskClub downgraded Unit Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. KLR Group raised Unit Corporation from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Wednesday, August 23rd. Finally, Cowen and Company set a $25.00 price target on Unit Corporation and gave the stock a “hold” rating in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Unit Corporation currently has a consensus rating of “Hold” and an average price target of $26.00.

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Unit Corporation (NYSE:UNT) opened at 16.09 on Monday. The company has a 50 day moving average price of $17.08 and a 200-day moving average price of $19.85. Unit Corporation has a 52 week low of $15.03 and a 52 week high of $30.63. The company has a market capitalization of $850.94 million, a P/E ratio of 309.42 and a beta of 2.79.

Unit Corporation (NYSE:UNT) last posted its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. Unit Corporation had a return on equity of 2.07% and a net margin of 0.39%. The company had revenue of $170.58 million during the quarter, compared to analysts’ expectations of $178.59 million. During the same period in the prior year, the firm earned ($0.15) earnings per share. Unit Corporation’s revenue for the quarter was up 23.3% compared to the same quarter last year. On average, equities analysts anticipate that Unit Corporation will post $0.50 earnings per share for the current fiscal year.

Unit Corporation 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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Institutional Ownership by Quarter for Unit Corporation (NYSE:UNT)

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