Sound Point Capital Management LP Takes Position in Equal Energy Ltd. (ENT)

Sound Point Capital Management LP acquired a new stake in shares of Equal Energy Ltd. (NYSE:ENT) during the first quarter, Holdings Channel reports. The fund acquired 1,055,546 shares of the oil and gas exploration company’s stock, valued at approximately $3,367,000. Equal Energy comprises 0.8% of Sound Point Capital Management LP’s portfolio, making the stock its 20th largest position. Sound Point Capital Management LP owned approximately 1.24% of Equal Energy as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of ENT. Abrams Capital Management L.P. boosted its stake in 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 valued at $18,770,000 after buying an additional 884,041 shares during the last quarter. CWM LLC purchased a new stake in Equal Energy during the first quarter valued at $2,013,000. Dimensional Fund Advisors LP boosted 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 valued at $3,367,000 after buying an additional 338,615 shares during the last quarter. Heartland Advisors Inc. purchased a new stake in Equal Energy during the first quarter valued at $957,000. Finally, Vanguard Group Inc. boosted its stake in Equal Energy by 7.0% in the first quarter. Vanguard Group Inc. now owns 3,972,198 shares of the oil and gas exploration company’s stock valued at $12,671,000 after buying an additional 258,376 shares during the last quarter.

Institutional Ownership by Quarter for Equal Energy (NYSE:ENT)

Shares of Equal Energy Ltd. (NYSE:ENT) traded up 7.12% during mid-day trading on Friday, hitting $3.16. The stock had a trading volume of 1,588,004 shares. Equal Energy Ltd. has a 52-week low of $2.61 and a 52-week high of $9.73. The company’s 50 day moving average is $3.02 and its 200-day moving average is $4.66. The stock’s market cap is $269.58 million.

COPYRIGHT VIOLATION WARNING: “Sound Point Capital Management LP Takes Position in Equal Energy Ltd. (ENT)” was originally reported by sleekmoney and is the property of of sleekmoney. If you are reading this piece of content on another website, it was copied illegally and republished in violation of U.S. & international copyright and trademark law. The original version of this piece of content can be viewed at https://sleekmoney.com/sound-point-capital-management-lp-takes-position-in-equal-energy-ltd-ent/1916461.html.

ENT has been the topic of several research reports. Citigroup Inc. cut Equal Energy from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 22nd. Dougherty & Co cut Equal Energy from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 22nd. Piper Jaffray Companies cut Equal Energy from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $6.00 in a research report on Tuesday, February 21st. Finally, Guggenheim cut Equal Energy from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 21st. One investment 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. The company currently has a consensus rating of “Hold” and a consensus target price of $8.79.

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.

Want to see what other hedge funds are holding ENT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equal Energy Ltd. (NYSE:ENT).

This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/sound-point-capital-management-lp-takes-position-in-equal-energy-ltd-ent/1916461.html

Receive News & Ratings for Equal Energy Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equal Energy Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *