Equal Energy Ltd. (NYSE:ENT)’s share price fell 2.5% during mid-day trading on Wednesday . The stock traded as low as $8.12 and last traded at $8.15, with a volume of 313,240 shares trading hands. The stock had previously closed at $8.36.

Several brokerages have recently issued reports on ENT. Citigroup Inc. decreased their price objective on Equal Energy from $15.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, July 20th. Zacks Investment Research lowered Equal Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th.

The firm’s market capitalization is $641.63 million. The firm’s 50-day moving average is $7.34 and its 200 day moving average is $8.27.

Equal Energy (NYSE:ENT) last posted its earnings results on Monday, May 9th. The oil and gas exploration company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by $0.01. The company earned $113.80 million during the quarter, compared to analysts’ expectations of $112.29 million. Equities research analysts forecast that Equal Energy Ltd. will post $0.02 earnings per share for the current year.

Other institutional investors have recently modified their holdings of the company. Stephens Investment Management Group LLC raised its position 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 during the last quarter. Royce & Associates LLC raised its position 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 during the last quarter. Finally, Wells Fargo & Company MN raised its position 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 during 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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