Abrams Capital Management L.P. held its stake in shares of Equal Energy Ltd. (NYSE:ENT) during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,000,000 shares of the oil and gas exploration company’s stock at the end of the fourth quarter. Equal Energy accounts for 1.2% of Abrams Capital Management L.P.’s holdings, making the stock its 17th largest position. Abrams Capital Management L.P. owned approximately 5.86% of Equal Energy worth $32,300,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Equal Energy during the third quarter worth approximately $162,000. Kirr Marbach & Co. LLC IN increased its stake in Equal Energy by 2.5% in the third quarter. Kirr Marbach & Co. LLC IN now owns 36,965 shares of the oil and gas exploration company’s stock worth $307,000 after buying an additional 900 shares during the last quarter. Swiss National Bank increased its stake in Equal Energy by 20.1% in the second quarter. Swiss National Bank now owns 76,000 shares of the oil and gas exploration company’s stock worth $505,000 after buying an additional 12,700 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Equal Energy by 2.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 192,974 shares of the oil and gas exploration company’s stock worth $1,282,000 after buying an additional 3,756 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake 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 worth $3,367,000 after buying an additional 338,615 shares during the last quarter.
Equal Energy Ltd. (NYSE:ENT) traded up 2.33% during midday trading on Monday, hitting $6.15. 328,860 shares of the stock were exchanged. Equal Energy Ltd. has a one year low of $5.65 and a one year high of $11.07. The firm’s market capitalization is $524.65 million. The company has a 50 day moving average price of $6.36 and a 200 day moving average price of $7.56.
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A number of analysts recently commented on the stock. Dougherty & Co dropped their target price on shares of Equal Energy from $11.00 to $10.50 and set a “buy” rating on the stock in a report on Monday, January 9th. Zacks Investment Research downgraded shares of Equal Energy from a “hold” rating to a “sell” rating in a report on Wednesday, February 8th. William Blair assumed coverage on shares of Equal Energy in a report on Tuesday, January 31st. They issued a “market perform” rating on the stock. Guggenheim assumed coverage on shares of Equal Energy in a report on Wednesday, January 25th. They issued a “buy” rating and a $12.00 target price on the stock. Finally, Northland Securities assumed coverage on shares of Equal Energy in a report on Friday, January 13th. They issued an “outperform” rating and a $11.75 target price on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $10.95.
Equal Energy Company Profile
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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