Amplify Energy (NYSE:AMPY) Stock Price Up 1.9% - Here's What Happened

Key Points

• Amplify Energy shares rose 1.9% to approximately $4.52, with trading volume slightly below its average session level.
• Analyst sentiment remains mixed: the stock carries an overall “Hold” rating and a $9.00 consensus price target, despite one Buy rating and one Sell rating.
• The company missed quarterly EPS expectations, reporting a $0.04 loss per share versus the expected $0.08 profit, although revenue of $52.69 million exceeded estimates.

Shares of Amplify Energy Corp. (NYSE:AMPY - Get Free Report) shot up 1.9% on Monday. The company traded as high as $4.54 and last traded at $4.5150. Approximately 437,471 shares changed hands during trading, a decline of 7% from the average session volume of 472,510 shares. The stock had previously closed at $4.43.

Analyst Ratings Changes

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

Amplify Energy Stock Performance

The business has a 50-day simple moving average of $4.62 and a two-hundred day simple moving average of $4.70. The company has a market capitalization of $187.19 million, a price-to-earnings ratio of 10.03 and a beta of 0.07.

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 the consensus estimate 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 during the quarter, compared to analyst estimates of $43.61 million.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Live Oak Investment Partners purchased a new position in shares of Amplify Energy during the 2nd quarter worth $207,000. PW Advisors LLC FL purchased a new position in Amplify Energy in the 2nd quarter worth approximately $274,000. Rockefeller Capital Management L.P. boosted its position in Amplify Energy by 309.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 10,245 shares of the company's stock valued at $47,000 after buying an additional 7,745 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Amplify Energy in the 1st quarter valued at approximately $75,000. Finally, Renaissance Technologies LLC acquired a new position in Amplify Energy in the first quarter worth about $92,000. 42.84% of the stock is owned by hedge funds and other institutional investors.

Amplify Energy Company Profile

Amplify Energy Corp. NYSE: AMPY is an independent oil and natural gas company engaged in the acquisition, development, exploitation and production of crude oil and natural gas properties. The company focuses on operating and managing mature producing assets, with activities spanning exploration, field development, production and related midstream operations.

Amplify's portfolio has included properties in the offshore California, East Texas and Rockies regions. Its California operations center on the Beta field and associated infrastructure in the federal waters off Southern California, including production platforms, pipelines and processing facilities.

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