Equities analysts forecast that Alta Mesa Resources Inc (NASDAQ:AMR) will announce sales of $137.60 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Alta Mesa Resources’ earnings, with estimates ranging from $117.00 million to $158.20 million. The company is expected to report its next earnings results before the market opens on Tuesday, August 14th.
On average, analysts expect that Alta Mesa Resources will report full year sales of $648.95 million for the current financial year, with estimates ranging from $558.00 million to $739.90 million. For the next year, analysts expect that the firm will post sales of $1.24 billion per share, with estimates ranging from $1.01 billion to $1.47 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Alta Mesa Resources.
AMR has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Alta Mesa Resources from a “hold” rating to a “sell” rating in a research report on Monday, May 7th. ValuEngine downgraded shares of Alta Mesa Resources from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 29th. Goldman Sachs Group initiated coverage on shares of Alta Mesa Resources in a research report on Tuesday, July 10th. They set a “buy” rating and a $8.25 price objective for the company. Finally, Guggenheim initiated coverage on shares of Alta Mesa Resources in a research report on Monday, July 30th. They set a “buy” rating and a $10.00 price objective for the company. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Alta Mesa Resources presently has a consensus rating of “Buy” and an average price target of $9.75.
AMR traded up $0.28 during mid-day trading on Friday, reaching $6.42. 924,516 shares of the company traded hands, compared to its average volume of 883,219. Alta Mesa Resources has a 52-week low of $5.86 and a 52-week high of $10.79. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.17.
A number of institutional investors have recently modified their holdings of AMR. Wells Fargo & Company MN bought a new position in Alta Mesa Resources in the 1st quarter worth $11,013,000. First Washington CORP bought a new position in Alta Mesa Resources in the 1st quarter worth $2,379,000. Quantitative Systematic Strategies LLC bought a new position in Alta Mesa Resources in the 1st quarter worth $143,000. Schwab Charles Investment Management Inc. bought a new position in Alta Mesa Resources in the 1st quarter worth $2,399,000. Finally, Caymus Capital Partners L.P. bought a new position in Alta Mesa Resources in the 1st quarter worth $2,640,000. 50.05% of the stock is owned by institutional investors.
About Alta Mesa Resources
Alta Mesa Resources, Inc focuses on the acquisition and development of unconventional oil and natural gas reserves in the Anadarko Basin. It also offers midstream energy services, including crude oil and gas gathering, processing, and marketing to producers of natural gas, natural gas liquids, crude oil, and condensate in the STACK Play region of Oklahoma.
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