Alliance Global Partners Initiates Coverage on Amplify Energy (NYSE:AMPY)

Equities research analysts at Alliance Global Partners began coverage on shares of Amplify Energy (NYSE:AMPY - Get Free Report) in a research note issued to investors on Monday. The brokerage set a "buy" rating and a $6.00 price target on the stock. Alliance Global Partners' price target would suggest a potential upside of 83.26% from the company's current price.

Several other equities analysts also recently commented on the stock. Industrial Alliance Securities set a $8.50 price objective on shares of Amplify Energy in a report on Friday, March 7th. Wall Street Zen lowered shares of Amplify Energy from a "hold" rating to a "sell" rating in a research note on Friday, June 6th.

Amplify Energy Stock Down 0.2%

Shares of NYSE:AMPY traded down $0.01 during trading on Monday, hitting $3.27. 1,240,679 shares of the company were exchanged, compared to its average volume of 579,414. Amplify Energy has a fifty-two week low of $2.27 and a fifty-two week high of $8.15. The stock has a market cap of $132.07 million, a price-to-earnings ratio of 8.91 and a beta of 0.46. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.31. The firm has a fifty day moving average price of $3.06 and a two-hundred day moving average price of $4.13.

Amplify Energy (NYSE:AMPY - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.01). Amplify Energy had a return on equity of 9.56% and a net margin of 5.67%. The business had revenue of $72.05 million for the quarter, compared to analyst estimates of $73.87 million. As a group, research analysts anticipate that Amplify Energy will post 1.25 earnings per share for the current fiscal year.

Insider Transactions at Amplify Energy

In other Amplify Energy news, Director Christopher W. Hamm acquired 77,176 shares of the business's stock in a transaction on Wednesday, June 18th. The stock was purchased at an average price of $3.67 per share, with a total value of $283,235.92. Following the acquisition, the director directly owned 244,547 shares of the company's stock, valued at approximately $897,487.49. This trade represents a 46.11% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Clint D. Coghill bought 150,000 shares of the firm's stock in a transaction on Friday, June 20th. The shares were acquired at an average price of $3.67 per share, for a total transaction of $550,500.00. Following the transaction, the director owned 3,154,347 shares in the company, valued at approximately $11,576,453.49. This represents a 4.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 541,176 shares of company stock valued at $1,860,626. 10.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amplify Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMPY. Dimensional Fund Advisors LP raised its stake in Amplify Energy by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,463,188 shares of the company's stock valued at $14,779,000 after purchasing an additional 88,707 shares in the last quarter. Rangeley Capital LLC bought a new position in Amplify Energy in the 4th quarter valued at about $8,154,000. Bridgeway Capital Management LLC increased its holdings in Amplify Energy by 0.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,345,622 shares of the company's stock valued at $8,074,000 after buying an additional 5,916 shares during the period. American Century Companies Inc. raised its position in shares of Amplify Energy by 10.9% in the 1st quarter. American Century Companies Inc. now owns 1,204,368 shares of the company's stock valued at $4,504,000 after buying an additional 118,723 shares in the last quarter. Finally, Foundry Partners LLC lifted its holdings in shares of Amplify Energy by 10.5% during the 1st quarter. Foundry Partners LLC now owns 690,055 shares of the company's stock worth $2,581,000 after acquiring an additional 65,325 shares during the period. 42.84% of the stock is owned by institutional investors and hedge funds.

Amplify Energy Company Profile

Amplify Energy Corp., together with its subsidiaries, engages in the acquisition, development, exploitation, and production of oil and natural gas properties in the United States. The company's properties consist of operated and non-operated working interests in producing and undeveloped leasehold acreage, as well as working interests in identified producing wells located in Oklahoma, the Rockies, federal waters offshore Southern California, East Texas/North Louisiana, and Eagle Ford.