Amplify Energy (NYSE:AMPY) Announces Quarterly Earnings Results

Amplify Energy (NYSE:AMPY) released its quarterly earnings data on Monday. The company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02, FiscalAI reports. The business had revenue of $51.44 million during the quarter, compared to the consensus estimate of $43.73 million. Amplify Energy had a net margin of 10.62% and a negative return on equity of 3.01%.

Amplify Energy Stock Performance

AMPY stock traded down $0.12 during midday trading on Monday, reaching $3.21. 1,517,651 shares of the company traded hands, compared to its average volume of 779,230. Amplify Energy has a 52-week low of $3.14 and a 52-week high of $6.79. The business has a 50 day moving average of $4.44 and a 200-day moving average of $4.88. The firm has a market capitalization of $132.88 million, a price-to-earnings ratio of 7.12 and a beta of 0.26.

Analyst Upgrades and Downgrades

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

Amplify Energy Company Profile

Amplify Energy Corp. is an independent oil and natural gas exploration and production company headquartered in Houston, Texas. The company focuses on acquiring, developing, exploiting and producing crude oil and natural gas properties in the United States.

Amplify Energy’s operations have included three core areas: the Beta field and other offshore properties in Southern California, oil and gas assets in the Rockies, and producing properties in East Texas. Its activities include drilling and developing wells, operating production facilities and managing related infrastructure used to bring hydrocarbons to market.

The company was formed in 2016 following the separation of certain assets from Memorial Production Partners.