Amplify Energy (NYSE:AMPY) Coverage Initiated by Analysts at Benchmark

Investment analysts at Benchmark started coverage on shares of Amplify Energy (NYSE:AMPY - Get Free Report) in a research report issued on Thursday, Marketbeat reports. The brokerage set a "buy" rating and a $11.00 price target on the stock. Benchmark's price target points to a potential upside of 55.59% from the company's previous close.

Several other brokerages have also recently commented on AMPY. Alliance Global Partners started coverage on shares of Amplify Energy in a research note on Monday, January 22nd. They issued a "buy" rating and a $9.00 price target on the stock. Roth Mkm reaffirmed a "buy" rating and set a $9.50 price objective on shares of Amplify Energy in a report on Friday, April 12th.

Amplify Energy Price Performance

AMPY traded up $0.35 on Thursday, hitting $7.07. 564,016 shares of the company's stock traded hands, compared to its average volume of 584,734. The company's 50 day simple moving average is $6.57 and its 200-day simple moving average is $6.34. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29. Amplify Energy has a one year low of $3.56 and a one year high of $8.21. The firm has a market cap of $280.04 million, a price-to-earnings ratio of 0.73 and a beta of 2.02.

Amplify Energy (NYSE:AMPY - Get Free Report) last released its quarterly earnings data on Wednesday, March 6th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.86. Amplify Energy had a net margin of 122.36% and a return on equity of 10.50%. The firm had revenue of $78.99 million for the quarter, compared to analysts' expectations of $73.33 million. As a group, research analysts anticipate that Amplify Energy will post 1.15 EPS for the current year.

Institutional Investors Weigh In On Amplify Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Foundry Partners LLC purchased a new stake in Amplify Energy during the 3rd quarter valued at $4,023,000. AQR Capital Management LLC lifted its holdings in shares of Amplify Energy by 332.4% in the 3rd quarter. AQR Capital Management LLC now owns 710,508 shares of the company's stock worth $5,222,000 after acquiring an additional 546,209 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Amplify Energy during the 3rd quarter worth about $2,670,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Amplify Energy during the 3rd quarter valued at about $763,000. Finally, Panagora Asset Management Inc. grew its holdings in Amplify Energy by 29.8% during the 3rd quarter. Panagora Asset Management Inc. now owns 288,442 shares of the company's stock valued at $2,120,000 after purchasing an additional 66,186 shares during the last quarter. 42.84% of the stock is currently owned by hedge funds and other institutional investors.

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.