Louisiana State Employees Retirement System Sells 3,515 Shares of Unit Co. (UNT)

Louisiana State Employees Retirement System lessened its holdings in Unit Co. (NYSE:UNT) by 14.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,285 shares of the oil and gas company’s stock after selling 3,515 shares during the period. Louisiana State Employees Retirement System’s holdings in Unit were worth $290,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. FMR LLC raised its stake in shares of Unit by 0.9% during the 2nd quarter. FMR LLC now owns 6,521,327 shares of the oil and gas company’s stock valued at $166,685,000 after purchasing an additional 58,100 shares during the period. Jane Street Group LLC bought a new stake in shares of Unit during the 2nd quarter valued at $370,000. Northern Trust Corp grew its position in Unit by 1.1% during the second quarter. Northern Trust Corp now owns 1,647,306 shares of the oil and gas company’s stock worth $42,105,000 after buying an additional 17,356 shares in the last quarter. United Services Automobile Association purchased a new position in Unit during the second quarter worth about $286,000. Finally, Fox Run Management L.L.C. purchased a new position in Unit during the third quarter worth about $253,000. 89.04% of the stock is currently owned by institutional investors.

Unit stock opened at $16.15 on Wednesday. Unit Co. has a 52 week low of $13.19 and a 52 week high of $29.06. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $889.29 million, a P/E ratio of 29.91 and a beta of 2.86.

Unit (NYSE:UNT) last posted its earnings results on Tuesday, November 6th. The oil and gas company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.07. Unit had a return on equity of 3.28% and a net margin of 14.60%. The business had revenue of $220.10 million during the quarter, compared to analysts’ expectations of $212.34 million. During the same period in the previous year, the business earned $0.10 earnings per share. The firm’s revenue was up 16.8% on a year-over-year basis. As a group, equities research analysts predict that Unit Co. will post 0.98 earnings per share for the current fiscal year.

Several equities analysts recently commented on the company. ValuEngine upgraded Unit from a “hold” rating to a “buy” rating in a research report on Wednesday, November 7th. Zacks Investment Research cut Unit from a “buy” rating to a “hold” rating in a research report on Wednesday, October 31st. Stephens assumed coverage on Unit in a research report on Thursday, December 6th. They set an “equal weight” rating and a $25.00 target price for the company. MKM Partners assumed coverage on Unit in a research report on Wednesday, December 5th. They set a “neutral” rating and a $20.00 target price for the company. Finally, Raymond James cut Unit from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, December 13th. One equities research analyst has rated the stock with a sell rating and nine have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $26.43.

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About Unit

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.

Further Reading: What is the quiet period?

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Institutional Ownership by Quarter for Unit (NYSE:UNT)

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