Equal Energy Ltd. (ENT) Sees Strong Trading Volume
Shares of Equal Energy Ltd. (NYSE:ENT) saw unusually-strong trading volume on Wednesday . Approximately 386,200 shares were traded during mid-day trading, an increase of 11% from the previous session’s volume of 347,771 shares.The stock last traded at $8.07 and had previously closed at $7.94.
Several research analysts have issued reports on ENT shares. Zacks Investment Research cut Equal Energy from a “hold” rating to a “sell” rating in a report on Wednesday, May 11th. Citigroup Inc. dropped their price target on Equal Energy from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday.
The company’s market cap is $623.68 million. The stock’s 50-day moving average is $7.15 and its 200-day moving average is $8.36.
Equal Energy (NYSE:ENT) last posted its quarterly earnings results on Monday, May 9th. The oil and gas exploration company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. The company had revenue of $113.80 million for the quarter, compared to analysts’ expectations of $112.29 million.
A number of hedge funds have recently modified their holdings of ENT. Royce & Associates LLC boosted its stake in shares of Equal Energy by 50.5% in the fourth quarter. Royce & Associates LLC now owns 164,400 shares of the oil and gas exploration company’s stock valued at $1,623,000 after buying an additional 55,200 shares in the last quarter. Brown Advisory Inc. purchased a new stake in shares of Equal Energy during the fourth quarter valued at $9,640,000. Stephens Investment Management Group LLC boosted its stake in shares of Equal Energy by 4.0% in the fourth quarter. Stephens Investment Management Group LLC now owns 991,704 shares of the oil and gas exploration company’s stock valued at $9,788,000 after buying an additional 37,998 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Equal Energy by 36.5% in the fourth quarter. Wells Fargo & Company MN now owns 1,129,458 shares of the oil and gas exploration company’s stock valued at $11,148,000 after buying an additional 301,888 shares in the last quarter.
Equal Energy Ltd. (Equal) is an exploration and production of oil and gas company. Equal’s oil and gas properties are located in Oklahoma. Equal Energy has an indirect, wholly-owned subsidiary, EEUSHI. EEUSHI holds all of Equal’s Oklahoma oil and gas properties and associated assets through its wholly owned subsidiary, Equal Energy US Inc The Company also reviews new drilling opportunities and potential acquisitions in Oklahoma to supplement its exploration and development activities.
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