Amplify Energy (NYSE:AMPY) Now Covered by Analysts at Alliance Global Partners

Alliance Global Partners started coverage on shares of Amplify Energy (NYSE:AMPY) in a research report sent to investors on Monday morning. The brokerage issued a buy rating and a $6.00 price objective on the stock.

A number of other equities research analysts also recently issued reports on the stock. Industrial Alliance Securities set a $8.50 price objective on shares of Amplify Energy in a research report on Friday, March 7th. Wall Street Zen downgraded shares of Amplify Energy from a “hold” rating to a “sell” rating in a research report on Friday, June 6th.

Amplify Energy Stock Up 0.6%

Shares of Amplify Energy stock opened at $3.30 on Monday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.31. Amplify Energy has a twelve month low of $2.27 and a twelve month high of $8.15. The company has a market cap of $133.12 million, a price-to-earnings ratio of 8.92 and a beta of 0.46. The company’s 50 day moving average is $3.07 and its 200 day moving average is $4.13.

Amplify Energy (NYSE:AMPY) last announced its earnings results on Monday, May 12th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The company had revenue of $72.05 million for the quarter, compared to analysts’ expectations of $73.87 million. Amplify Energy had a net margin of 5.67% and a return on equity of 9.56%. Research analysts anticipate that Amplify Energy will post 1.25 EPS for the current year.

Insider Buying and Selling

In related news, insider Daniel Furbee acquired 10,000 shares of Amplify Energy stock in a transaction dated Friday, May 30th. The shares were purchased at an average price of $2.97 per share, for a total transaction of $29,700.00. Following the completion of the transaction, the insider directly owned 49,238 shares in the company, valued at approximately $146,236.86. This represents a 25.49% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher W. Hamm acquired 77,176 shares of Amplify Energy stock in a transaction dated Wednesday, June 18th. The shares were bought at an average price of $3.67 per share, for a total transaction of $283,235.92. Following the transaction, the director owned 244,547 shares of the company’s stock, valued at approximately $897,487.49. The trade was a 46.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 541,176 shares of company stock valued at $1,860,626. Company insiders own 10.30% of the company’s stock.

Institutional Investors Weigh In On Amplify Energy

Several institutional investors and hedge funds have recently modified their holdings of AMPY. Rhumbline Advisers grew its position in shares of Amplify Energy by 3.6% during the fourth quarter. Rhumbline Advisers now owns 102,030 shares of the company’s stock valued at $612,000 after purchasing an additional 3,580 shares in the last quarter. Sanctuary Advisors LLC grew its position in shares of Amplify Energy by 4.2% during the fourth quarter. Sanctuary Advisors LLC now owns 69,225 shares of the company’s stock valued at $415,000 after purchasing an additional 2,765 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Amplify Energy during the fourth quarter valued at about $73,000. Intech Investment Management LLC purchased a new position in shares of Amplify Energy during the fourth quarter valued at about $117,000. Finally, Virtu Financial LLC purchased a new position in shares of Amplify Energy during the fourth quarter valued at about $76,000. Institutional investors own 42.84% of the company’s stock.

About Amplify Energy

Amplify Energy Corp., together with its subsidiaries, engages in the acquisition, development, exploitation, and production of oil and natural gas properties in the United States. The company’s properties consist of operated and non-operated working interests in producing and undeveloped leasehold acreage, as well as working interests in identified producing wells located in Oklahoma, the Rockies, federal waters offshore Southern California, East Texas/North Louisiana, and Eagle Ford.