Amplify Energy (NYSE:AMPY) Releases Quarterly Earnings Results, Misses Expectations By $0.24 EPS

Amplify Energy (NYSE:AMPY) posted its quarterly earnings data on Wednesday. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.24), Zacks reports. Amplify Energy had a net margin of 5.64% and a return on equity of 6.61%. The firm had revenue of $66.40 million for the quarter, compared to analysts’ expectations of $67.70 million.

Amplify Energy Price Performance

Shares of AMPY traded up $0.19 during trading hours on Friday, reaching $5.09. 883,916 shares of the stock traded hands, compared to its average volume of 951,176. The company has a market cap of $205.77 million, a P/E ratio of 14.54 and a beta of 0.33. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $4.56 and its two-hundred day moving average price is $3.75. Amplify Energy has a 52-week low of $2.27 and a 52-week high of $7.10.

Insider Activity

In related news, insider James Frew bought 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The stock was purchased at an average price of $3.50 per share, for a total transaction of $175,000.00. Following the completion of the transaction, the insider owned 104,222 shares in the company, valued at $364,777. The trade was a 92.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Clint D. Coghill bought 167,086 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were bought at an average cost of $3.88 per share, with a total value of $648,293.68. Following the completion of the purchase, the director directly owned 3,438,853 shares of the company’s stock, valued at $13,342,749.64. This represents a 5.11% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 425,000 shares of company stock worth $1,603,845 over the last 90 days. Company insiders own 10.30% of the company’s stock.

Hedge Funds Weigh In On Amplify Energy

Several hedge funds have recently added to or reduced their stakes in AMPY. AQR Capital Management LLC boosted its position in shares of Amplify Energy by 38.4% during the first quarter. AQR Capital Management LLC now owns 393,489 shares of the company’s stock valued at $1,472,000 after buying an additional 109,187 shares during the period. Ameriprise Financial Inc. increased its stake in Amplify Energy by 716.4% in the second quarter. Ameriprise Financial Inc. now owns 234,305 shares of the company’s stock worth $750,000 after purchasing an additional 205,606 shares during the period. Marshall Wace LLP lifted its position in shares of Amplify Energy by 18.5% during the second quarter. Marshall Wace LLP now owns 190,470 shares of the company’s stock worth $610,000 after purchasing an additional 29,669 shares during the last quarter. Empowered Funds LLC raised its stake in Amplify Energy by 8.7% in the first quarter. Empowered Funds LLC now owns 169,229 shares of the company’s stock worth $633,000 after buying an additional 13,607 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Amplify Energy by 5.1% during the 2nd quarter. First Trust Advisors LP now owns 121,102 shares of the company’s stock valued at $388,000 after buying an additional 5,869 shares in the last quarter. 42.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Amplify Energy in a research note on Thursday, October 30th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.50.

Amplify Energy Company Profile

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.