Amplify Energy (NYSE:AMPY) Downgraded by Wall Street Zen to Strong Sell

Key Points

• Amplify Energy was downgraded to “strong sell” by Wall Street Zen, while Weiss Ratings also cut its rating to “sell.” MarketBeat lists the stock’s average analyst rating as “Sell.”
• AMPY shares opened at $4.03, down 1.3%, with a market capitalization of approximately $166 million. The company reported a quarterly loss of $0.93 per share, missing the $0.06 consensus estimate, while revenue slightly missed forecasts.
• Insider James Frew purchased 25,000 shares for about $98,750, increasing his ownership by 13.03%. Institutional investors and hedge funds collectively own 42.84% of Amplify Energy.

Amplify Energy (NYSE:AMPY - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "sell" rating to a "strong sell" rating in a report issued on Saturday.

Separately, Weiss Ratings downgraded Amplify Energy from a "hold (c)" rating to a "sell (d)" rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of "Sell".

Amplify Energy Stock Down 1.3%

AMPY opened at $4.03 on Friday. Amplify Energy has a twelve month low of $3.41 and a twelve month high of $6.79. The company has a fifty day moving average of $4.10 and a 200-day moving average of $5.05. The stock has a market cap of $166.19 million, a PE ratio of 20.12 and a beta of -0.17.

Amplify Energy (NYSE:AMPY - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported ($0.93) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.99). The firm had revenue of $37.46 million for the quarter, compared to the consensus estimate of $38.11 million. Amplify Energy had a negative return on equity of 3.71% and a net margin of 5.12%.

Insider Activity

In other Amplify Energy news, insider James Frew purchased 25,000 shares of the business's stock in a transaction on Tuesday, June 23rd. The shares were purchased at an average cost of $3.95 per share, for a total transaction of $98,750.00. Following the acquisition, the insider owned 216,859 shares of the company's stock, valued at approximately $856,593.05. This represents a 13.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.99% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Lakewood Asset Management LLC lifted its stake in shares of Amplify Energy by 7.4% in the fourth quarter. Lakewood Asset Management LLC now owns 34,665 shares of the company's stock valued at $158,000 after buying an additional 2,386 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Amplify Energy by 2.5% during the fourth quarter. First Trust Advisors LP now owns 108,768 shares of the company's stock valued at $497,000 after buying an additional 2,663 shares during the last quarter. PW Advisors LLC FL bought a new stake in shares of Amplify Energy during the second quarter worth about $274,000. Franklin Resources Inc. increased its position in shares of Amplify Energy by 31.7% during the second quarter. Franklin Resources Inc. now owns 28,798 shares of the company's stock worth $92,000 after acquiring an additional 6,935 shares in the last quarter. Finally, XTX Topco Ltd increased its position in shares of Amplify Energy by 45.6% during the fourth quarter. XTX Topco Ltd now owns 22,992 shares of the company's stock worth $105,000 after acquiring an additional 7,201 shares in the last quarter. Institutional investors and hedge funds own 42.84% of the company's stock.

About Amplify Energy

Amplify Energy Corp NYSE: AMPY is an independent upstream energy company focused on the exploration, development and production of crude oil and natural gas resources in the United States. The company's operations emphasize both conventional and unconventional plays, combining onshore and offshore activities. Amplify Energy applies advanced reservoir management techniques and disciplined capital allocation to identify and develop reserves with attractive economics while managing commodity price exposure through targeted risk strategies.

The company's asset portfolio is concentrated along the U.S.

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