Equal Energy Ltd. (ENT) Stock Price Down 6.5%

Equal Energy Ltd. (NYSE:ENT) shares dropped 6.5% during mid-day trading on Tuesday . The company traded as low as $2.42 and last traded at $2.43. Approximately 869,677 shares changed hands during trading, an increase of 123% from the average daily volume of 389,609 shares. The stock had previously closed at $2.60.

ENT has been the topic of a number of research analyst reports. Zacks Investment Research lowered Equal Energy from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. BidaskClub raised Equal Energy from a “sell” rating to a “hold” rating in a research note on Saturday, September 2nd. Northland Securities reissued a “buy” rating on shares of Equal Energy in a research note on Tuesday, August 29th. Citigroup Inc. cut Equal Energy from a “neutral” rating to a “sell” rating in a research note on Thursday, October 26th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Equal Energy in a research note on Tuesday, September 19th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Equal Energy has a consensus rating of “Hold” and an average price target of $8.65.

The company’s market cap is $207.30 million. The firm has a 50-day moving average price of $3.13 and a 200 day moving average price of $3.11.

A number of large investors have recently added to or reduced their stakes in ENT. Airain ltd lifted its stake in Equal Energy by 79.7% in the second quarter. Airain ltd now owns 34,185 shares of the oil and gas exploration company’s stock valued at $122,000 after buying an additional 15,161 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Equal Energy by 16.7% in the second quarter. The Manufacturers Life Insurance Company now owns 47,094 shares of the oil and gas exploration company’s stock valued at $168,000 after buying an additional 6,731 shares during the period. Kirr Marbach & Co. LLC IN lifted its stake in Equal Energy by 57.2% in the second quarter. Kirr Marbach & Co. LLC IN now owns 55,800 shares of the oil and gas exploration company’s stock valued at $199,000 after buying an additional 20,300 shares during the period. Rhumbline Advisers lifted its stake in Equal Energy by 7.5% in the second quarter. Rhumbline Advisers now owns 58,279 shares of the oil and gas exploration company’s stock valued at $207,000 after buying an additional 4,047 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Equal Energy by 256.3% in the first quarter. Goldman Sachs Group Inc. now owns 75,582 shares of the oil and gas exploration company’s stock valued at $241,000 after buying an additional 54,367 shares during the period.

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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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