Rangeley Capital LLC Invests $8.15 Million in Amplify Energy Corp. (NYSE:AMPY)

Rangeley Capital LLC bought a new position in shares of Amplify Energy Corp. (NYSE:AMPY) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 1,359,000 shares of the company’s stock, valued at approximately $8,154,000. Amplify Energy accounts for 7.3% of Rangeley Capital LLC’s investment portfolio, making the stock its 2nd biggest position. Rangeley Capital LLC owned about 3.42% of Amplify Energy as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP purchased a new stake in shares of Amplify Energy in the third quarter worth about $43,000. EP Wealth Advisors LLC purchased a new position in Amplify Energy in the 3rd quarter worth approximately $69,000. Wellington Management Group LLP acquired a new stake in Amplify Energy in the third quarter valued at approximately $70,000. Quantinno Capital Management LP purchased a new stake in shares of Amplify Energy during the third quarter valued at approximately $76,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Amplify Energy during the fourth quarter worth $73,000. Institutional investors and hedge funds own 42.84% of the company’s stock.

Insider Activity at Amplify Energy

In other Amplify Energy news, Director Deborah G. Adams acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average price of $4.14 per share, for a total transaction of $41,400.00. Following the completion of the purchase, the director now directly owns 61,961 shares in the company, valued at $256,518.54. The trade was a 19.25 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Todd R. Snyder bought 25,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was bought at an average price of $3.83 per share, with a total value of $95,750.00. Following the completion of the purchase, the director now owns 108,416 shares of the company’s stock, valued at $415,233.28. This trade represents a 29.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 50,000 shares of company stock valued at $194,900. Corporate insiders own 1.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AMPY. Alliance Global Partners reaffirmed a “buy” rating on shares of Amplify Energy in a research note on Friday, March 7th. Benchmark reiterated a “buy” rating and issued a $11.00 price target on shares of Amplify Energy in a research note on Thursday, January 16th. Finally, Industrial Alliance Securities set a $8.50 price objective on Amplify Energy in a research note on Friday, March 7th.

Amplify Energy Price Performance

AMPY opened at $3.71 on Thursday. The company has a market capitalization of $149.64 million, a P/E ratio of 2.41 and a beta of 1.88. The company has a 50-day moving average of $4.65 and a 200-day moving average of $5.83. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.06 and a current ratio of 1.06. Amplify Energy Corp. has a 1-year low of $3.54 and a 1-year high of $8.15.

Amplify Energy (NYSE:AMPY) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.17). The firm had revenue of $69.02 million during the quarter, compared to the consensus estimate of $76.04 million. Amplify Energy had a net margin of 20.99% and a return on equity of 16.22%. Equities analysts expect that Amplify Energy Corp. will post 1.25 EPS for the current fiscal year.

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.