Amplify Energy Sees Unusually Large Options Volume (NYSE:AMPY)

Key Points

• Amplify Energy Corp. experienced an unusual surge in options trading, with 18,430 call options traded, marking a 1,496% increase compared to the typical volume.
• The company's stock price rose 7.7% to $4.36, while it has a market cap of $176.45 million and a PE ratio of 12.46.
• Recent insider transactions include Director Clint D. Coghill purchasing 167,086 shares, increasing his ownership stake by 5.11%, amidst a general trend of insider buying with 575,000 shares acquired in the last 90 days.

Amplify Energy Corp. (NYSE:AMPY - Get Free Report) saw some unusual options trading activity on Tuesday. Stock investors acquired 18,430 call options on the company. This represents an increase of approximately 1,496% compared to the typical daily volume of 1,155 call options.

Amplify Energy Stock Up 7.7%

NYSE:AMPY opened at $4.36 on Wednesday. The company's 50 day moving average is $3.80 and its two-hundred day moving average is $3.42. The company has a market cap of $176.45 million, a PE ratio of 12.46 and a beta of 0.52. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.32. Amplify Energy has a twelve month low of $2.27 and a twelve month high of $7.35.

Amplify Energy (NYSE:AMPY - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.12). Amplify Energy had a net margin of 5.64% and a return on equity of 6.61%. The business had revenue of $68.36 million during the quarter, compared to analysts' expectations of $68.51 million. Analysts anticipate that Amplify Energy will post 1.25 EPS for the current year.

Insider Buying and Selling

In related news, Director Clint D. Coghill acquired 167,086 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were bought at an average price of $3.88 per share, for a total transaction of $648,293.68. Following the completion of the transaction, the director directly owned 3,438,853 shares in the company, valued at approximately $13,342,749.64. This trade represents a 5.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James Frew acquired 50,000 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were bought at an average price of $3.50 per share, for a total transaction of $175,000.00. Following the transaction, the insider owned 104,222 shares of the company's stock, valued at $364,777. This trade represents a 92.21% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 575,000 shares of company stock worth $2,154,345. 10.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Amplify Energy

Large investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC increased its position in Amplify Energy by 31.9% during the first quarter. Exchange Traded Concepts LLC now owns 66,478 shares of the company's stock worth $249,000 after purchasing an additional 16,064 shares during the last quarter. Ethic Inc. acquired a new stake in Amplify Energy during the first quarter worth about $522,000. Nuveen LLC purchased a new position in Amplify Energy during the first quarter worth about $275,000. American Century Companies Inc. boosted its stake in Amplify Energy by 10.9% during the first quarter. American Century Companies Inc. now owns 1,204,368 shares of the company's stock worth $4,504,000 after buying an additional 118,723 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Amplify Energy during the first quarter worth about $649,000. 42.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AMPY shares. Benchmark restated a "buy" rating on shares of Amplify Energy in a research report on Thursday, July 3rd. Wall Street Zen cut shares of Amplify Energy from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Finally, Alliance Global Partners began coverage on shares of Amplify Energy in a research note on Monday, June 30th. They set a "buy" rating and a $6.00 price target on the stock. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $8.50.

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.

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