Equal Energy Ltd. (NYSE:ENT) shares traded down 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 traded. The stock had previously closed at $8.36.

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

The firm’s 50-day moving average is $7.40 and its 200 day moving average is $8.27. The stock’s market capitalization is $659.58 million.

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

Several hedge funds have recently made changes to their positions in the company. Royce & Associates LLC raised 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 during the last quarter. Stephens Investment Management Group LLC raised 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 during the last quarter. Finally, Wells Fargo & Company MN raised 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 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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