Amplify Energy Corp. $AMPY Holdings Reduced by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. has reduced its holdings in Amplify Energy Corp. by 31.2% during the first quarter, now owning approximately 0.25% of the company.
• Insider purchases have been noteworthy, with James Frew acquiring 50,000 shares and Director Clint D. Coghill buying 167,086 shares, highlighting increased confidence among company executives.
• Amplify Energy reported disappointing earnings, with an EPS of ($0.10) for the quarter, falling short of estimates, as revenue totaled $68.36 million.

Goldman Sachs Group Inc. reduced its holdings in Amplify Energy Corp. (NYSE:AMPY - Free Report) by 31.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 99,342 shares of the company's stock after selling 45,116 shares during the period. Goldman Sachs Group Inc. owned approximately 0.25% of Amplify Energy worth $372,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of AMPY. MetLife Investment Management LLC grew its holdings in shares of Amplify Energy by 31.7% during the 1st quarter. MetLife Investment Management LLC now owns 21,035 shares of the company's stock worth $79,000 after purchasing an additional 5,063 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Amplify Energy in the 4th quarter valued at approximately $38,000. Virtu Financial LLC raised its holdings in shares of Amplify Energy by 62.3% during the first quarter. Virtu Financial LLC now owns 20,577 shares of the company's stock valued at $77,000 after purchasing an additional 7,896 shares during the last quarter. Strs Ohio purchased a new stake in Amplify Energy during the 1st quarter valued at approximately $36,000. Finally, ProShare Advisors LLC purchased a new position in Amplify Energy during the fourth quarter worth $66,000. 42.84% of the stock is currently owned by institutional investors and hedge funds.

Amplify Energy Price Performance

Shares of AMPY opened at $6.04 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average of $4.04 and a 200-day moving average of $3.46. Amplify Energy Corp. has a twelve month low of $2.27 and a twelve month high of $7.35. The stock has a market capitalization of $244.44 million, a P/E ratio of 17.26 and a beta of 0.52.

Amplify Energy (NYSE:AMPY - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.12). The firm 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%. As a group, equities research analysts forecast that Amplify Energy Corp. will post 1.25 EPS for the current fiscal year.

Insider Buying and Selling at Amplify Energy

In related news, insider James Frew acquired 50,000 shares of Amplify Energy stock in a transaction that occurred on 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 transaction, the insider owned 104,222 shares in the company, valued at $364,777. This represents a 92.21% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Clint D. Coghill bought 167,086 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was bought at an average cost 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. The trade was a 5.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 425,000 shares of company stock worth $1,603,845 in the last three months. Insiders own 10.30% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AMPY shares. Wall Street Zen cut shares of Amplify Energy from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Benchmark reissued a "buy" rating on shares of Amplify Energy in a research note on Thursday, July 3rd. Finally, Alliance Global Partners started coverage on shares of Amplify Energy in a research note on Monday, June 30th. They set a "buy" rating and a $6.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently 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.

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