Equal Energy Ltd. (NYSE:ENT) Receives Average Rating of “Hold” from Analysts
Equal Energy Ltd. (NYSE:ENT) has earned a consensus rating of “Hold” from the seven analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $6.92.
ENT has been the subject of several research reports. Zacks Investment Research cut Equal Energy from a “hold” rating to a “sell” rating in a research report on Tuesday. Citigroup Inc. reissued a “neutral” rating and set a $3.00 price objective (down from $5.00) on shares of Equal Energy in a report on Sunday, May 14th.
Equal Energy (NYSE:ENT) opened at 3.51 on Friday. Equal Energy has a 52-week low of $2.61 and a 52-week high of $9.73. The stock’s 50 day moving average is $3.10 and its 200 day moving average is $4.43. The company’s market cap is $299.43 million.
A number of hedge funds have recently made changes to their positions in ENT. Sound Point Capital Management LP purchased a new stake in shares of Equal Energy during the first quarter worth approximately $3,367,000. Abrams Capital Management L.P. raised its stake in shares of Equal Energy by 17.7% in the first quarter. Abrams Capital Management L.P. now owns 5,884,041 shares of the oil and gas exploration company’s stock worth $18,770,000 after buying an additional 884,041 shares during the last quarter. CWM LLC bought a new position in Equal Energy during the first quarter valued at about $2,013,000. Dimensional Fund Advisors LP raised its position in Equal Energy by 185.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 521,208 shares of the oil and gas exploration company’s stock valued at $3,367,000 after buying an additional 338,615 shares during the last quarter. Finally, Heartland Advisors Inc. bought a new position in Equal Energy during the first quarter valued at about $957,000.
About Equal Energy
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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