Amplify Energy’s (AMPY) “Buy” Rating Reiterated at Benchmark

Amplify Energy (NYSE:AMPY)‘s stock had its “buy” rating reiterated by investment analysts at Benchmark in a research report issued on Wednesday, Benzinga reports. They currently have a $11.00 target price on the stock. Benchmark’s price target suggests a potential upside of 64.42% from the company’s current price.

Separately, Alliance Global Partners lifted their price target on shares of Amplify Energy from $9.00 to $9.50 and gave the company a “buy” rating in a research report on Friday, August 9th.

Amplify Energy Price Performance

Shares of NYSE AMPY opened at $6.69 on Wednesday. The firm has a market capitalization of $265.00 million, a P/E ratio of 9.16 and a beta of 1.94. The firm’s 50-day moving average price is $6.79 and its 200-day moving average price is $6.76. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.30. Amplify Energy has a 1-year low of $3.56 and a 1-year high of $8.15.

Amplify Energy (NYSE:AMPY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). Amplify Energy had a return on equity of 7.40% and a net margin of 8.95%. The firm had revenue of $79.50 million for the quarter, compared to analyst estimates of $79.62 million. During the same period last year, the company posted $0.24 earnings per share. Equities research analysts anticipate that Amplify Energy will post 1.16 earnings per share for the current fiscal year.

Institutional Trading of Amplify Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMPY. Quadrature Capital Ltd lifted its holdings in shares of Amplify Energy by 61.5% in the fourth quarter. Quadrature Capital Ltd now owns 24,369 shares of the company’s stock valued at $144,000 after purchasing an additional 9,279 shares in the last quarter. Diversified Trust Co bought a new stake in shares of Amplify Energy in the 1st quarter worth $73,000. Janney Montgomery Scott LLC raised its holdings in shares of Amplify Energy by 2.9% in the first quarter. Janney Montgomery Scott LLC now owns 79,642 shares of the company’s stock valued at $526,000 after purchasing an additional 2,274 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Amplify Energy in the first quarter valued at about $605,000. Finally, Empowered Funds LLC lifted its position in shares of Amplify Energy by 8.1% during the first quarter. Empowered Funds LLC now owns 130,522 shares of the company’s stock valued at $863,000 after purchasing an additional 9,800 shares in the last quarter. 42.84% of the stock is owned by institutional investors.

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.