Ethic Inc. Acquires New Shares in Amplify Energy Corp. $AMPY

Key Points

• Ethic Inc. acquired 135,282 shares of Amplify Energy Corp., valued at approximately $522,000, marking its first investment in the company in the latest quarter.
• Several institutional investors have recently increased their stakes in Amplify Energy, including Dimensional Fund Advisors LP, which raised its ownership by 3.7% during the fourth quarter.
• Amplify Energy's stock holds a consensus rating of "Buy" among analysts, with a price target of $8.50, despite missing earnings estimates in its last quarterly report.

Ethic Inc. bought a new stake in Amplify Energy Corp. (NYSE:AMPY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 135,282 shares of the company's stock, valued at approximately $522,000. Ethic Inc. owned about 0.34% of Amplify Energy at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC grew its position in shares of Amplify Energy by 31.9% in the first quarter. Exchange Traded Concepts LLC now owns 66,478 shares of the company's stock valued at $249,000 after purchasing an additional 16,064 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Amplify Energy by 3.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,463,188 shares of the company's stock worth $14,779,000 after acquiring an additional 88,707 shares during the period. Rhumbline Advisers increased its stake in Amplify Energy by 11.9% during the 1st quarter. Rhumbline Advisers now owns 114,161 shares of the company's stock worth $427,000 after acquiring an additional 12,131 shares during the period. Marshall Wace LLP bought a new position in Amplify Energy during the 4th quarter worth $141,000. Finally, Jane Street Group LLC increased its stake in Amplify Energy by 84.8% during the 4th quarter. Jane Street Group LLC now owns 86,785 shares of the company's stock worth $521,000 after acquiring an additional 39,822 shares during the period. Institutional investors and hedge funds own 42.84% of the company's stock.

Amplify Energy Price Performance

Shares of AMPY stock traded up $0.09 during trading hours on Wednesday, reaching $4.08. The company's stock had a trading volume of 346,661 shares, compared to its average volume of 642,234. The firm's 50 day simple moving average is $3.62 and its 200-day simple moving average is $3.53. The company has a market capitalization of $164.92 million, a price-to-earnings ratio of 11.64 and a beta of 0.49. Amplify Energy Corp. has a fifty-two week low of $2.27 and a fifty-two week high of $7.35. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.32.

Amplify Energy (NYSE:AMPY - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.12). Amplify Energy had a net margin of 5.64% and a return on equity of 6.61%. The company had revenue of $68.36 million during the quarter, compared to analyst estimates of $68.51 million. Sell-side analysts forecast that Amplify Energy Corp. will post 1.25 earnings per share for the current year.

Insider Activity at Amplify Energy

In other news, insider James Frew acquired 25,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were bought at an average price of $3.70 per share, with a total value of $92,500.00. Following the acquisition, the insider directly owned 129,222 shares in the company, valued at $478,121.40. The trade was a 23.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Clint D. Coghill acquired 65,494 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were purchased at an average cost of $3.89 per share, for a total transaction of $254,771.66. Following the acquisition, the director owned 3,504,347 shares in the company, valued at $13,631,909.83. This represents a 1.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 966,176 shares of company stock valued at $3,464,471 in the last 90 days. 10.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

About Amplify Energy

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.