Acadian Asset Management LLC Raises Holdings in Amplify Energy Corp. $AMPY

Key Points

• Acadian Asset Management LLC has increased its stake in Amplify Energy Corp. by 71.6%, acquiring an additional 266,947 shares, bringing its total ownership to 639,998 shares valued at approximately $2.39 million.
• Insider transactions include James Frew purchasing 25,000 shares, boosting his holdings by nearly 24%, and director Christopher W. Hamm acquiring 77,176 shares, increasing his stake by over 46%.
• Wall Street analysts have mixed views on Amplify Energy, with one firm setting a price target of $6.00 while another downgraded it to a "sell," revealing a current average price target of $8.50.

Acadian Asset Management LLC lifted its holdings in Amplify Energy Corp. (NYSE:AMPY - Free Report) by 71.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 639,998 shares of the company's stock after purchasing an additional 266,947 shares during the period. Acadian Asset Management LLC owned about 1.59% of Amplify Energy worth $2,388,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AMPY. Price T Rowe Associates Inc. MD increased its holdings in Amplify Energy by 18.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,929 shares of the company's stock worth $90,000 after acquiring an additional 2,367 shares in the last quarter. Northern Trust Corp increased its holdings in Amplify Energy by 3.3% in the 4th quarter. Northern Trust Corp now owns 363,646 shares of the company's stock worth $2,182,000 after acquiring an additional 11,621 shares in the last quarter. Jane Street Group LLC increased its holdings in Amplify Energy by 84.8% in 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 in the last quarter. BNP Paribas Financial Markets purchased a new stake in Amplify Energy in the 4th quarter worth approximately $38,000. Finally, Bank of America Corp DE increased its holdings in Amplify Energy by 35.4% in the 4th quarter. Bank of America Corp DE now owns 64,788 shares of the company's stock worth $389,000 after acquiring an additional 16,928 shares in the last quarter. Institutional investors own 42.84% of the company's stock.

Insider Buying and Selling at Amplify Energy

In other news, insider James Frew purchased 50,000 shares of the business's stock in a transaction dated Monday, August 11th. The shares were purchased at an average price of $3.50 per share, for a total transaction of $175,000.00. Following the completion of the purchase, the insider owned 104,222 shares in the company, valued at approximately $364,777. This represents a 92.21% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Clint D. Coghill purchased 167,086 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were purchased at an average price of $3.88 per share, for a total transaction of $648,293.68. Following the purchase, the director owned 3,438,853 shares of the company's stock, valued at approximately $13,342,749.64. This trade represents a 5.11% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 425,000 shares of company stock worth $1,603,845. Insiders own 10.30% of the company's stock.

Amplify Energy Trading Down 0.1%

Shares of NYSE:AMPY traded down $0.01 on Friday, hitting $4.48. 575,191 shares of the company's stock were exchanged, compared to its average volume of 380,156. Amplify Energy Corp. has a 12 month low of $2.27 and a 12 month high of $7.35. The stock has a market capitalization of $181.10 million, a price-to-earnings ratio of 12.79 and a beta of 0.52. The business's 50 day simple moving average is $3.86 and its two-hundred day simple moving average is $3.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.84 and a quick ratio of 0.84.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMPY. Wall Street Zen lowered shares of Amplify Energy from a "hold" rating to a "sell" rating in a report on Friday, June 6th. Benchmark reissued a "buy" rating on shares of Amplify Energy in a report on Thursday, July 3rd. Finally, Alliance Global Partners initiated coverage on shares of Amplify Energy in a report on Monday, June 30th. They set a "buy" rating and a $6.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Amplify Energy has an average rating of "Buy" and a consensus 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.