Key Points
- Insider buying: Amplify Energy insider James Frew bought 25,000 shares at $3.95 each, spending about $98,750. After the purchase, his holdings rose to 216,859 shares, a 13.03% increase.
- Weak recent operating results: The company recently reported quarterly EPS of -$0.93, sharply missing the analyst estimate of $0.06, while revenue of $37.46 million also came in slightly below expectations.
- Mixed sentiment on the stock: Analysts now rate Amplify Energy a consensus Hold with an average price target of $6.00, even as some firms have recently downgraded the shares to Sell.
Amplify Energy Corp. (NYSE:AMPY - Get Free Report) insider James Frew acquired 25,000 shares of Amplify Energy stock in a transaction on Tuesday, June 23rd. The shares were purchased at an average price of $3.95 per share, with a total value of $98,750.00. Following the completion of the purchase, the insider owned 216,859 shares in the company, valued at $856,593.05. This represents a 13.03% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Amplify Energy Stock Performance
Shares of Amplify Energy stock opened at $3.95 on Wednesday. The company has a 50-day simple moving average of $5.07 and a two-hundred day simple moving average of $5.25. The stock has a market capitalization of $163.10 million, a PE ratio of 19.75 and a beta of -0.21. Amplify Energy Corp. has a 52-week low of $3.11 and a 52-week high of $6.79.
Amplify Energy (NYSE:AMPY - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.93) EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.99). The firm had revenue of $37.46 million for the quarter, compared to analysts' expectations of $38.11 million. Amplify Energy had a net margin of 5.12% and a negative return on equity of 3.71%.
Wall Street Analyst Weigh In
A number of analysts have commented on AMPY shares. Weiss Ratings lowered Amplify Energy from a "hold (c)" rating to a "sell (d)" rating in a report on Monday, June 1st. Wall Street Zen downgraded Amplify Energy from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $6.00.
Get Our Latest Stock Report on Amplify Energy
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the company. Strs Ohio bought a new stake in shares of Amplify Energy during the 1st quarter valued at about $36,000. Hudson Bay Capital Management LP bought a new position in shares of Amplify Energy in the 2nd quarter worth approximately $38,000. Rockefeller Capital Management L.P. lifted its stake in shares of 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 purchasing an additional 7,745 shares during the period. Kathmere Capital Management LLC purchased a new position in shares of Amplify Energy in the fourth quarter worth approximately $48,000. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Amplify Energy in the third quarter worth approximately $53,000. Institutional investors own 42.84% of the company's stock.
Amplify Energy Company Profile
(
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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