Jacobs Levy Equity Management Inc. Invests $649,000 in Amplify Energy Corp. $AMPY

Key Points

• Jacobs Levy Equity Management Inc. has invested $649,000 in Amplify Energy Corp., acquiring approximately 0.43% of the company with 173,411 shares.
• Multiple analysts have expressed a **"buy" rating** for Amplify Energy, with an average price target of **$8.50**; however, Wall Street Zen recently downgraded the rating to **"sell."**
• Insider trading shows significant confidence in the company, with multiple executives increasing their stakes, including a **23.99% increase** for insider James Frew after purchasing 25,000 shares.

Jacobs Levy Equity Management Inc. acquired a new stake in shares of Amplify Energy Corp. (NYSE:AMPY - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 173,411 shares of the company's stock, valued at approximately $649,000. Jacobs Levy Equity Management Inc. owned approximately 0.43% of Amplify Energy as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC raised its stake in Amplify Energy by 38.4% during the first quarter. AQR Capital Management LLC now owns 393,489 shares of the company's stock valued at $1,472,000 after buying an additional 109,187 shares in the last quarter. Ancora Advisors LLC acquired a new stake in shares of Amplify Energy during the 1st quarter worth approximately $56,000. MetLife Investment Management LLC raised its position 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 during the period. American Century Companies Inc. raised its position in shares of Amplify Energy by 10.9% during the 1st quarter. American Century Companies Inc. now owns 1,204,368 shares of the company's stock worth $4,504,000 after purchasing an additional 118,723 shares during the period. Finally, Ethic Inc. acquired a new stake in shares of Amplify Energy during the 1st quarter worth approximately $522,000. Institutional investors and hedge funds own 42.84% of the company's stock.

Analyst Ratings Changes

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

Amplify Energy Price Performance

NYSE AMPY traded up $0.09 on Monday, reaching $4.05. 246,737 shares of the stock traded hands, compared to its average volume of 386,116. The firm's fifty day simple moving average is $3.78 and its 200 day simple moving average is $3.41. 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 market cap of $163.90 million, a price-to-earnings ratio of 11.57 and a beta of 0.52. Amplify Energy Corp. has a 12 month low of $2.27 and a 12 month high of $7.35.

Amplify Energy (NYSE:AMPY - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 net margin of 5.64% and a return on equity of 6.61%. As a group, research analysts predict that Amplify Energy Corp. will post 1.25 EPS for the current fiscal year.

Insider Buying and Selling at Amplify Energy

In other news, Director Christopher W. Hamm purchased 77,176 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was purchased at an average cost of $3.67 per share, with a total value of $283,235.92. Following the purchase, the director owned 244,547 shares in the company, valued at $897,487.49. This trade represents a 46.11% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James Frew acquired 50,000 shares of Amplify Energy stock in a transaction dated Monday, August 11th. The shares were bought at an average cost of $3.50 per share, with a total value 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 ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 652,176 shares of company stock valued at $2,437,581. 10.30% of the stock is owned by corporate insiders.

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.