Addison Clark Management L.L.C. acquired a new stake in shares of Equal Energy Ltd. (NYSE:ENT) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 111,745 shares of the oil and gas exploration company’s stock, valued at approximately $356,000. Equal Energy makes up 0.6% of Addison Clark Management L.L.C.’s holdings, making the stock its 16th largest position. Addison Clark Management L.L.C. owned 0.13% of Equal Energy as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp raised its stake in Equal Energy by 8.8% in the fourth quarter. State Street Corp now owns 750,025 shares of the oil and gas exploration company’s stock valued at $4,850,000 after buying an additional 60,644 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of 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 worth $3,367,000 after buying an additional 338,615 shares during the period. Emancipation Management LLC raised its stake in shares of Equal Energy by 78.9% in the fourth quarter. Emancipation Management LLC now owns 195,902 shares of the oil and gas exploration company’s stock worth $1,265,000 after buying an additional 86,404 shares during the period. Brown Advisory Inc. raised its stake in shares of Equal Energy by 52.1% in the fourth quarter. Brown Advisory Inc. now owns 3,642,272 shares of the oil and gas exploration company’s stock worth $23,530,000 after buying an additional 1,247,091 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Equal Energy by 3.7% in the fourth quarter. Renaissance Technologies LLC now owns 668,400 shares of the oil and gas exploration company’s stock worth $4,318,000 after buying an additional 23,600 shares during the period.
Shares of Equal Energy Ltd. (ENT) traded up 5.38% on Monday, reaching $3.33. 454,761 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $3.03 and a 200 day moving average price of $4.63. Equal Energy Ltd. has a one year low of $2.61 and a one year high of $9.73. The firm’s market cap is $284.08 million.
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Several analysts have recently issued reports on the stock. Citigroup Inc. reiterated a “neutral” rating and issued a $3.00 target price (down previously from $5.00) on shares of Equal Energy in a research note on Sunday, May 14th. Piper Jaffray Companies downgraded shares of Equal Energy from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $18.00 to $6.00 in a report on Tuesday, February 21st. Dougherty & Co downgraded shares of Equal Energy from a “buy” rating to a “neutral” rating in a report on Wednesday, February 22nd. Finally, Guggenheim downgraded shares of Equal Energy from a “buy” rating to a “neutral” rating in a report on Tuesday, February 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Equal Energy currently has an average rating of “Hold” and an average target price of $8.79.
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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