Amplify Energy (NYSE:AMPY) Receives “Buy” Rating from Benchmark

Benchmark reaffirmed their buy rating on shares of Amplify Energy (NYSE:AMPY) in a report released on Wednesday morning, Benzinga reports. They currently have a $11.00 price objective on the stock.

Separately, Alliance Global Partners increased their price objective on Amplify Energy from $9.00 to $9.50 and gave the company a “buy” rating in a research note on Friday, August 9th.

Amplify Energy Stock Performance

Shares of AMPY opened at $6.55 on Wednesday. Amplify Energy has a 12-month low of $3.56 and a 12-month high of $8.15. The stock has a market cap of $259.46 million, a P/E ratio of 8.97 and a beta of 1.94. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average of $6.78 and a two-hundred day moving average of $6.76.

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

Institutional Investors Weigh In On Amplify Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in AMPY. Innealta Capital LLC purchased a new stake in Amplify Energy in the 2nd quarter valued at about $26,000. Fortitude Family Office LLC increased its position in Amplify Energy by 167.5% during the second quarter. Fortitude Family Office LLC now owns 4,028 shares of the company’s stock worth $27,000 after purchasing an additional 2,522 shares during the last quarter. nVerses Capital LLC purchased a new position in Amplify Energy during the second quarter worth approximately $52,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Amplify Energy in the 1st quarter valued at $67,000. Finally, Creative Planning purchased a new stake in shares of Amplify Energy during the 3rd quarter valued at $67,000. Hedge funds and other institutional investors own 42.84% of the company’s stock.

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.