Amplify Energy (NYSE:AMPY) Research Coverage Started at Alliance Global Partners

Alliance Global Partners initiated coverage on shares of Amplify Energy (NYSE:AMPY) in a report issued on Monday. The brokerage issued a buy rating and a $6.00 price target on the stock.

A number of other equities research analysts have also recently issued reports on AMPY. Wall Street Zen cut shares of Amplify Energy from a “hold” rating to a “sell” rating in a report on Friday, June 6th. Industrial Alliance Securities set a $8.50 target price on shares of Amplify Energy in a report on Friday, March 7th.

Amplify Energy Trading Up 0.6%

Shares of AMPY stock opened at $3.30 on Monday. The company’s fifty day simple moving average is $3.07 and its two-hundred day simple moving average is $4.13. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.76 and a quick ratio of 0.76. Amplify Energy has a 1 year low of $2.27 and a 1 year high of $8.15. The stock has a market capitalization of $133.12 million, a price-to-earnings ratio of 8.92 and a beta of 0.46.

Amplify Energy (NYSE:AMPY) last issued its earnings results on Monday, May 12th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Amplify Energy had a net margin of 5.67% and a return on equity of 9.56%. The business had revenue of $72.05 million for the quarter, compared to the consensus estimate of $73.87 million. As a group, analysts anticipate that Amplify Energy will post 1.25 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Christopher W. Hamm purchased 77,176 shares of the business’s stock in a transaction on Wednesday, June 18th. The shares were acquired at an average price of $3.67 per share, with a total value of $283,235.92. Following the acquisition, the director directly owned 244,547 shares in the company, valued at approximately $897,487.49. The trade was a 46.11% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Clint D. Coghill purchased 150,000 shares of the business’s stock in a transaction on Friday, June 20th. The stock was purchased at an average cost of $3.67 per share, for a total transaction of $550,500.00. Following the acquisition, the director owned 3,154,347 shares in the company, valued at approximately $11,576,453.49. The trade was a 4.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 541,176 shares of company stock valued at $1,860,626 in the last quarter. Insiders own 10.30% of the company’s stock.

Institutional Investors Weigh In On Amplify Energy

A number of large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its stake in Amplify Energy by 18.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,929 shares of the company’s stock worth $90,000 after acquiring an additional 2,367 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in Amplify Energy by 4.2% during the fourth quarter. Sanctuary Advisors LLC now owns 69,225 shares of the company’s stock worth $415,000 after acquiring an additional 2,765 shares in the last quarter. Rhumbline Advisers boosted its stake in Amplify Energy by 3.6% during the fourth quarter. Rhumbline Advisers now owns 102,030 shares of the company’s stock worth $612,000 after acquiring an additional 3,580 shares in the last quarter. Brandywine Global Investment Management LLC boosted its stake in Amplify Energy by 17.0% during the fourth quarter. Brandywine Global Investment Management LLC now owns 26,870 shares of the company’s stock worth $161,000 after acquiring an additional 3,900 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its stake in Amplify Energy by 31.7% during the first quarter. MetLife Investment Management LLC now owns 21,035 shares of the company’s stock worth $79,000 after acquiring an additional 5,063 shares in the last quarter. Institutional investors 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.