Equal Energy Ltd. (NYSE:ENT) shares traded up 3.3% on Thursday . The company traded as high as $8.94 and last traded at $8.83, with a volume of 137,976 shares. The stock had previously closed at $8.55.

A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of Equal Energy from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a research note on Wednesday. Citigroup Inc. decreased their target price on shares of Equal Energy from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, July 20th.

The stock’s market capitalization is $678.13 million. The stock has a 50 day moving average price of $7.56 and a 200 day moving average price of $8.22.

Equal Energy (NYSE:ENT) last announced its quarterly earnings results on Monday, August 8th. The oil and gas exploration company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.47. The firm earned $112 million during the quarter, compared to the consensus estimate of $102 million. Analysts forecast that Equal Energy Ltd. will post ($0.33) earnings per share for the current fiscal year.

Several hedge funds recently made changes to their positions in the stock. 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 worth $11,148,000 after buying an additional 301,888 shares during the period. 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 worth $9,788,000 after buying an additional 37,998 shares during the period. Finally, 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 worth $1,623,000 after buying an additional 55,200 shares during the period.

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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