Key Points
- Director Clint Coghill sold 501,279 shares on March 16 at an average of $6.42 for $3,218,211.18, cutting his stake by 15.43% to 2,746,836 shares (about $17.63M post-sale).
- Amplify reported an earnings miss, posting a ($0.24) EPS vs. a $0.21 consensus and revenue of $56.55M vs. $71.07M expected, indicating weaker-than-forecast results for the quarter.
- Analysts have a consensus "Moderate Buy" with a $6.00 price target; institutional ownership is about 42.84%, several funds recently increased positions, and the stock trades with a market cap of ~$254.94M and a P/E of ~6.3.
Amplify Energy Corp. (NYSE:AMPY - Get Free Report) Director Clint Coghill sold 242,489 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $6.31, for a total transaction of $1,530,105.59. Following the completion of the transaction, the director owned 2,504,347 shares of the company's stock, valued at $15,802,429.57. This trade represents a 8.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Amplify Energy Price Performance
Shares of NYSE:AMPY opened at $6.18 on Wednesday. The stock has a market cap of $254.94 million, a price-to-earnings ratio of 6.30 and a beta of -0.15. Amplify Energy Corp. has a 12 month low of $2.27 and a 12 month high of $6.79. The stock's 50 day moving average price is $5.28 and its 200 day moving average price is $4.99.
Amplify Energy (NYSE:AMPY - Get Free Report) last issued its quarterly earnings results on Monday, March 9th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.45). Amplify Energy had a net margin of 16.69% and a negative return on equity of 4.10%. The firm had revenue of $56.55 million for the quarter, compared to the consensus estimate of $71.07 million. On average, sell-side analysts expect that Amplify Energy Corp. will post 1.25 EPS for the current year.
Analysts Set New Price Targets
Several research analysts recently weighed in on AMPY shares. Weiss Ratings raised Amplify Energy from a "sell (d+)" rating to a "hold (c)" rating in a research note on Thursday, March 12th. Wall Street Zen raised shares of Amplify Energy from a "sell" rating to a "hold" rating in a report on Saturday. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $6.00.
Read Our Latest Analysis on Amplify Energy
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in AMPY. Lakewood Asset Management LLC increased its holdings in shares of Amplify Energy by 7.4% in the fourth quarter. Lakewood Asset Management LLC now owns 34,665 shares of the company's stock valued at $158,000 after buying an additional 2,386 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Amplify Energy by 2.5% during the 4th quarter. First Trust Advisors LP now owns 108,768 shares of the company's stock worth $497,000 after acquiring an additional 2,663 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Amplify Energy by 256.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 5,240 shares of the company's stock worth $28,000 after acquiring an additional 3,768 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Amplify Energy by 31.7% in the 2nd quarter. Franklin Resources Inc. now owns 28,798 shares of the company's stock worth $92,000 after acquiring an additional 6,935 shares during the last quarter. Finally, XTX Topco Ltd grew its holdings in shares of Amplify Energy by 45.6% in the 4th quarter. XTX Topco Ltd now owns 22,992 shares of the company's stock worth $105,000 after acquiring an additional 7,201 shares during the last quarter. Institutional investors and hedge funds own 42.84% of the company's stock.
About Amplify Energy
(
Get Free Report)
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.
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