Macquarie Group Ltd. Acquires New Position in Unit Co. (UNT)

Macquarie Group Ltd. acquired a new stake in shares of Unit Co. (NYSE:UNT) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,200 shares of the oil and gas company’s stock, valued at approximately $313,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of UNT. Wedge Capital Management L L P NC boosted its stake in Unit 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 valued at $213,000 after acquiring an additional 940 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of Unit during the second quarter worth $214,000. Municipal Employees Retirement System of Michigan raised its holdings in shares of Unit by 6.0% during the second quarter. Municipal Employees Retirement System of Michigan now owns 12,480 shares of the oil and gas company’s stock worth $234,000 after purchasing an additional 710 shares during the period. Neuberger Berman Group LLC acquired a new stake in shares of Unit during the second quarter worth $308,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Unit during the second quarter worth $314,000. Hedge funds and other institutional investors own 95.15% of the company’s stock.

Shares of Unit Co. (NYSE:UNT) traded down $0.02 during trading hours on Monday, hitting $19.25. 1,008,100 shares of the company’s stock were exchanged, compared to its average volume of 584,365. The company has a quick ratio of 0.66, a current ratio of 0.67 and a debt-to-equity ratio of 0.64. Unit Co. has a 52 week low of $15.29 and a 52 week high of $30.63. The firm has a market capitalization of $1,017.94, a PE ratio of 35.00 and a beta of 2.90.

Unit (NYSE:UNT) last released its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.01). Unit had a return on equity of 2.33% and a net margin of 4.28%. The firm had revenue of $188.49 million during the quarter, compared to analyst estimates of $189.44 million. During the same period last year, the business earned $0.04 EPS. The firm’s revenue was up 22.9% on a year-over-year basis. sell-side analysts predict that Unit Co. will post 0.51 earnings per share for the current fiscal year.

A number of brokerages have weighed in on UNT. Cowen reissued a “hold” rating and set a $25.00 target price on shares of Unit in a report on Sunday, September 17th. Zacks Investment Research cut shares of Unit from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. ValuEngine cut shares of Unit from a “hold” rating to a “sell” rating in a report on Thursday, November 30th. Scotiabank reissued a “hold” rating and set a $23.00 target price on shares of Unit in a report on Friday, November 3rd. Finally, KLR Group cut shares of Unit from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Unit presently has an average rating of “Hold” and an average price target of $24.60.

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Unit 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.

Institutional Ownership by Quarter for Unit (NYSE:UNT)

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