Paloma Partners Management Co lowered its position in Unit Co. (NYSE:UNT) by 9.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 285,646 shares of the oil and gas company’s stock after selling 30,644 shares during the period. Paloma Partners Management Co owned 0.54% of Unit worth $6,283,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in UNT. Bailard Inc. acquired a new stake in shares of Unit in the 4th quarter worth $288,000. Wedge Capital Management L L P NC increased its stake in shares of Unit by 31.5% in the 3rd quarter. Wedge Capital Management L L P NC now owns 14,984 shares of the oil and gas company’s stock worth $308,000 after acquiring an additional 3,590 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in shares of Unit in the 3rd quarter worth $313,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Unit in the 4th quarter worth $376,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Unit in the 4th quarter worth $378,000. Institutional investors own 94.73% of the company’s stock.
Shares of Unit Co. (UNT) opened at $20.28 on Monday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $1,076.09, a PE ratio of 8.97 and a beta of 2.99. Unit Co. has a 52-week low of $15.29 and a 52-week high of $26.82.
A number of brokerages have issued reports on UNT. Cowen set a $27.00 target price on Unit and gave the stock a “hold” rating in a research note on Thursday, January 18th. Zacks Investment Research raised Unit from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Saturday, January 6th. SunTrust Banks set a $27.00 target price on Unit and gave the stock a “buy” rating in a research note on Friday, February 23rd. TheStreet raised Unit from a “d+” rating to a “c” rating in a research note on Thursday, February 22nd. Finally, ValuEngine downgraded Unit from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Unit has a consensus rating of “Hold” and a consensus price target of $25.33.
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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