Weiss Ratings Reiterates Hold (C-) Rating for Amplify Energy (NYSE:AMPY)

Key Points

• Weiss Ratings has reiterated a "hold (C-)" rating for Amplify Energy (NYSE:AMPY), indicating a lack of strong buy or sell signals from analysts.
• Amplify Energy's stock currently has an average rating of "Moderate Buy" and an average target price of $8.50, despite a recent report showing a loss of ($0.10) earnings per share.
• Insiders have significantly increased their holdings, with purchases amounting to 425,000 shares worth approximately $1.6 million over the last three months.

Amplify Energy (NYSE:AMPY - Get Free Report)'s stock had its "hold (c-)" rating reissued by analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

AMPY has been the topic of several other reports. Benchmark reissued a "buy" rating on shares of Amplify Energy in a research report on Thursday, July 3rd. Alliance Global Partners started coverage on Amplify Energy in a report on Monday, June 30th. They issued a "buy" rating and a $6.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $8.50.

Amplify Energy Price Performance

Shares of AMPY traded up $0.09 during trading hours on Wednesday, reaching $5.19. 1,711,558 shares of the company traded hands, compared to its average volume of 911,754. Amplify Energy has a fifty-two week low of $2.27 and a fifty-two week high of $7.23. The stock has a market capitalization of $210.04 million, a PE ratio of 14.83 and a beta of 0.44. The stock has a fifty day simple moving average of $4.23 and a 200 day simple moving average of $3.52. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.32.

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 for the quarter, missing the consensus estimate of $0.02 by ($0.12). Amplify Energy had a net margin of 5.64% and a return on equity of 6.61%. The business had revenue of $68.36 million during the quarter, compared to analyst estimates of $68.51 million. As a group, research analysts predict that Amplify Energy will post 1.25 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider James Frew acquired 50,000 shares of Amplify Energy stock in a transaction that occurred on Monday, August 11th. The stock was acquired at an average price of $3.50 per share, with a total value of $175,000.00. Following the completion of the acquisition, the insider directly owned 104,222 shares of the company's stock, valued at $364,777. This trade represents a 92.21% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Clint D. Coghill bought 167,086 shares of the stock in a transaction on Wednesday, August 13th. The shares were bought at an average cost of $3.88 per share, for a total transaction of $648,293.68. Following the purchase, the director owned 3,438,853 shares in the company, valued at $13,342,749.64. This trade represents a 5.11% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 425,000 shares of company stock worth $1,603,845 over the last three months. Corporate insiders own 10.30% of the company's stock.

Hedge Funds Weigh In On Amplify Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CSM Advisors LLC acquired a new position in shares of Amplify Energy during the 2nd quarter worth $3,520,000. Truffle Hound Capital LLC bought a new position in Amplify Energy in the 2nd quarter worth approximately $2,560,000. RBF Capital LLC acquired a new stake in Amplify Energy during the second quarter worth about $960,000. Acadian Asset Management LLC increased its position in shares of Amplify Energy by 71.6% during the first quarter. Acadian Asset Management LLC now owns 639,998 shares of the company's stock valued at $2,388,000 after purchasing an additional 266,947 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Amplify Energy by 716.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 234,305 shares of the company's stock valued at $750,000 after acquiring an additional 205,606 shares in the last quarter. Institutional investors and hedge funds own 42.84% of the company's stock.

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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