Amplify Energy (NYSE:AMPY) Stock Price Up 1.9% – Here’s Why

Amplify Energy Corp. (NYSE:AMPY)’s share price traded up 1.9% during trading on Monday. The stock traded as high as $4.54 and last traded at $4.5150. 437,471 shares traded hands during mid-day trading, a decline of 7% from the average daily volume of 472,510 shares. The stock had previously closed at $4.43.

Analyst Ratings Changes

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

Amplify Energy Trading Down 0.6%

The company has a market capitalization of $185.93 million, a P/E ratio of 9.97 and a beta of 0.07. The company’s fifty day moving average is $4.62 and its 200 day moving average is $4.69.

Amplify Energy (NYSE:AMPY) last issued its earnings results on Monday, August 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.12). Amplify Energy had a net margin of 10.62% and a negative return on equity of 3.01%. The business had revenue of $52.69 million for the quarter, compared to the consensus estimate of $43.61 million.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Live Oak Investment Partners purchased a new position in Amplify Energy during the second quarter worth about $207,000. PW Advisors LLC FL bought a new position in Amplify Energy in the 2nd quarter worth about $274,000. Rockefeller Capital Management L.P. increased its stake 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 worth $47,000 after acquiring an additional 7,745 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Amplify Energy in the 1st quarter valued at about $75,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Amplify Energy in the 1st quarter valued at about $92,000. Institutional investors own 42.84% of the company’s stock.

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.