Empowered Funds LLC Takes Position in Amplify Energy Corp. $AMPY

Key Points

• Empowered Funds LLC bought 272,763 shares of Amplify Energy in the second quarter, valued at approximately $1.09 million and representing about 0.66% of the company. Institutional and hedge-fund investors collectively own 42.84% of AMPY.
• Amplify Energy’s insider ownership increased after James Frew purchased 25,000 shares at an average price of $3.95, while company insiders now own 8.99% of the stock.
• The company missed quarterly EPS expectations, reporting a loss of $0.04 per share versus the expected $0.08 profit, although revenue of $52.69 million exceeded estimates. Analysts maintain a consensus “Hold” rating with a $9.00 average price target.

Empowered Funds LLC purchased a new position in Amplify Energy Corp. (NYSE:AMPY - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 272,763 shares of the company's stock, valued at approximately $1,086,000. Empowered Funds LLC owned about 0.66% of Amplify Energy as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of AMPY. Arrowstreet Capital Limited Partnership bought a new stake in Amplify Energy in the first quarter worth about $5,390,000. GSA Capital Partners LLP bought a new stake in shares of Amplify Energy during the 2nd quarter worth approximately $1,655,000. Assenagon Asset Management S.A. purchased a new position in Amplify Energy during the 1st quarter valued at $994,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Amplify Energy by 54.4% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 336,779 shares of the company's stock valued at $1,340,000 after acquiring an additional 118,706 shares during the last quarter. Finally, 683 Capital Management LLC bought a new position in Amplify Energy in the 4th quarter valued at $862,000. 42.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Amplify Energy

In other Amplify Energy news, insider James Frew acquired 25,000 shares of the company's stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average cost of $3.95 per share, with a total value of $98,750.00. Following the acquisition, the insider directly owned 216,859 shares of the company's stock, valued at approximately $856,593.05. The trade was a 13.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 8.99% of the stock is owned by company insiders.

Amplify Energy Stock Performance

Shares of AMPY stock opened at $4.91 on Friday. The stock's 50-day simple moving average is $4.29 and its 200-day simple moving average is $5.02. The firm has a market capitalization of $203.57 million, a PE ratio of 10.91 and a beta of -0.15. Amplify Energy Corp. has a fifty-two week low of $3.65 and a fifty-two week high of $6.79.

Amplify Energy (NYSE:AMPY - Get Free Report) last released its earnings results on Monday, August 10th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.12). Amplify Energy had a negative return on equity of 3.01% and a net margin of 10.62%.The firm had revenue of $52.69 million for the quarter, compared to analyst estimates of $43.61 million.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMPY. Weiss Ratings raised shares of Amplify Energy from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday, August 11th. Wall Street Zen raised shares of Amplify Energy from a "strong sell" rating to a "hold" rating in a research report on Sunday, August 16th. Finally, Benchmark cut their price objective on shares of Amplify Energy from $11.00 to $9.00 and set a "buy" rating on the stock in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $9.00.

Amplify Energy Company Profile

Amplify Energy Corp NYSE: AMPY is an independent upstream energy company focused on the exploration, development and production of crude oil and natural gas resources in the United States. The company's operations emphasize both conventional and unconventional plays, combining onshore and offshore activities. Amplify Energy applies advanced reservoir management techniques and disciplined capital allocation to identify and develop reserves with attractive economics while managing commodity price exposure through targeted risk strategies.

The company's asset portfolio is concentrated along the U.S.

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