Equal Energy Ltd. (NYSE:ENT)’s share price shot up 1.5% during mid-day trading on Friday . The stock traded as high as $9.08 and last traded at $8.98, with a volume of 270,960 shares. The stock had previously closed at $8.85.

Several brokerages have recently issued reports on ENT. Zacks Investment Research upgraded Equal Energy from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a research report on Wednesday, August 10th. Citigroup Inc. reduced their price objective on Equal Energy from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, July 20th.

The firm has a 50 day moving average price of $8.04 and a 200-day moving average price of $8.17. The stock’s market capitalization is $750.24 million.

Equal Energy (NYSE:ENT) last announced its quarterly earnings data on Monday, August 8th. The oil and gas exploration company reported ($0.49) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.47. The firm had revenue of $112 million for the quarter, compared to analyst estimates of $102 million. Analysts predict that Equal Energy Ltd. will post ($0.41) EPS for the current fiscal year.

In other news, insider Aditya Chatterjee sold 3,129 shares of the company’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $9.19, for a total transaction of $28,755.51. Following the completion of the transaction, the insider now owns 4,278 shares of the company’s stock, valued at $39,314.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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