Amplify Energy (NYSE:AMPY) Shares Down 4.2% – Here’s Why

Amplify Energy Corp. (NYSE:AMPY)’s share price was down 4.2% during mid-day trading on Friday . The company traded as low as $3.94 and last traded at $3.9550. Approximately 566,702 shares changed hands during trading, a decline of 33% from the average daily volume of 840,124 shares. The stock had previously closed at $4.13.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AMPY. Weiss Ratings downgraded shares of Amplify Energy from a “hold (c)” rating to a “sell (d)” rating in a research report on Monday, June 1st. Wall Street Zen downgraded shares of Amplify Energy from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Amplify Energy has an average rating of “Sell”.

Amplify Energy Stock Performance

The company has a 50 day moving average price of $4.31 and a 200 day moving average price of $5.11. The company has a market capitalization of $163.30 million, a price-to-earnings ratio of 19.77 and a beta of -0.19.

Amplify Energy (NYSE:AMPY) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.93) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.99). Amplify Energy had a negative return on equity of 3.71% and a net margin of 5.12%.The firm had revenue of $37.46 million for the quarter, compared to analyst estimates of $38.11 million.

Insider Buying and Selling at Amplify Energy

In other news, insider James Frew bought 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were bought at an average cost of $3.95 per share, for a total transaction of $98,750.00. Following the acquisition, the insider directly owned 216,859 shares in the company, valued at approximately $856,593.05. This trade represents a 13.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.99% of the stock is owned by insiders.

Institutional Investors Weigh In On Amplify Energy

A number of institutional investors have recently added to or reduced their stakes in AMPY. Empowered Funds LLC lifted its position in shares of Amplify Energy by 10.1% during the 1st quarter. Empowered Funds LLC now owns 253,581 shares of the company’s stock worth $1,582,000 after buying an additional 23,159 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Amplify Energy during the first quarter valued at approximately $92,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Amplify Energy during the first quarter valued at approximately $75,000. Arrowstreet Capital Limited Partnership bought a new stake in Amplify Energy during the first quarter worth $5,390,000. Finally, Assenagon Asset Management S.A. bought a new stake in Amplify Energy during the first quarter worth $994,000. 42.84% of the stock is owned by institutional investors.

About Amplify Energy

Amplify Energy Corp (NYSE: AMPY) is an independent upstream energy company focused on the exploration, development and production of crude oil and natural gas resources in the United States. The company’s operations emphasize both conventional and unconventional plays, combining onshore and offshore activities. Amplify Energy applies advanced reservoir management techniques and disciplined capital allocation to identify and develop reserves with attractive economics while managing commodity price exposure through targeted risk strategies.

The company’s asset portfolio is concentrated along the U.S.