Amplify Energy (NYSE:AMPY) Earns Buy Rating from Benchmark

Amplify Energy (NYSE:AMPY)‘s stock had its “buy” rating reaffirmed by investment analysts at Benchmark in a report issued on Thursday,Benzinga reports. They currently have a $11.00 price target on the stock. Benchmark’s price objective suggests a potential upside of 87.87% from the company’s previous close.

Amplify Energy Price Performance

NYSE:AMPY opened at $5.86 on Thursday. The company has a market capitalization of $232.85 million, a P/E ratio of 3.80 and a beta of 1.95. Amplify Energy has a 12 month low of $3.56 and a 12 month high of $8.15. The business’s 50-day moving average is $6.32 and its 200 day moving average is $6.69. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.29.

Hedge Funds Weigh In On Amplify Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. American Century Companies Inc. lifted its position in Amplify Energy by 422.6% in the second quarter. American Century Companies Inc. now owns 385,397 shares of the company’s stock worth $2,613,000 after buying an additional 311,646 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Amplify Energy by 12.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,225,071 shares of the company’s stock valued at $15,086,000 after purchasing an additional 251,898 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Amplify Energy during the 2nd quarter worth $443,000. Squarepoint Ops LLC purchased a new position in Amplify Energy during the 2nd quarter valued at about $327,000. Finally, Exchange Traded Concepts LLC purchased a new position in Amplify Energy during the third quarter valued at approximately $302,000. 42.84% of the stock is owned by hedge funds and other 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.