UNTC is Benefitting from Higher Oil Prices
October 3, 2023
Unit Corp (UNTC) paid a $2.50 dividend this week and will pay another $2.50 in the 4th quarter. The stock is finally performing well and is at an all-time high (adjusting for the $10 special dividend that was paid earlier this year). UNTC continues to look well positioned given high oil prices. I imagine UNTC’s Q3 filing will disclose that the company has hedged a significant portion of its oil production for 2024 at $80 to $90/bbl. UNTC remains a high-conviction idea.