Amplify Energy’s (AMPY) Buy Rating Reaffirmed at Benchmark

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

Separately, Alliance Global Partners upped their target price on shares of 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 Trading Down 2.1 %

NYSE:AMPY opened at $6.55 on Wednesday. The business’s 50-day moving average is $6.78 and its two-hundred day moving average is $6.76. The firm has a market capitalization of $259.46 million, a PE ratio of 8.97 and a beta of 1.94. Amplify Energy has a 12 month low of $3.56 and a 12 month high of $8.15. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.84 and a quick ratio of 0.84.

Amplify Energy (NYSE:AMPY) last announced its earnings results on Wednesday, August 7th. The company reported $0.17 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 analysts’ expectations of $79.62 million. Amplify Energy had a net margin of 8.95% and a return on equity of 7.40%. During the same quarter in the previous year, the business posted $0.24 earnings per share. Research analysts predict that Amplify Energy will post 1.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amplify Energy

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

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.