Amplify Energy (NYSE:AMPY) Price Target Raised to $9.50 at Alliance Global Partners

Amplify Energy (NYSE:AMPY) had its price target raised by stock analysts at Alliance Global Partners from $9.00 to $9.50 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Alliance Global Partners’ target price points to a potential upside of 30.49% from the stock’s current price.

AMPY has been the topic of several other reports. Roth Mkm restated a “buy” rating and issued a $9.50 price objective on shares of Amplify Energy in a research report on Friday, April 12th. Benchmark assumed coverage on Amplify Energy in a research report on Thursday, May 2nd. They issued a “buy” rating and a $11.00 price objective on the stock.

Amplify Energy Stock Performance

NYSE AMPY traded down $0.23 on Friday, hitting $7.28. 389,162 shares of the company traded hands, compared to its average volume of 542,480. The company has a market capitalization of $288.38 million, a price-to-earnings ratio of 10.00 and a beta of 1.90. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average price is $6.71 and its 200-day moving average price is $6.53. Amplify Energy has a 52-week low of $3.56 and a 52-week high of $8.15.

Amplify Energy (NYSE:AMPY) last released its earnings results on Wednesday, August 7th. The company reported $0.17 earnings per share 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 10.06% and a return on equity of 8.29%. During the same quarter last year, the firm posted $0.24 earnings per share. Equities analysts expect that Amplify Energy will post 1.28 earnings per share for the current year.

Institutional Investors Weigh In On Amplify Energy

Several large investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC increased 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 worth $526,000 after purchasing an additional 2,274 shares during the last quarter. Fortitude Family Office LLC increased its stake 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 acquiring an additional 2,522 shares during the last quarter. Federated Hermes Inc. increased its stake in Amplify Energy by 3.1% during the fourth quarter. Federated Hermes Inc. now owns 117,853 shares of the company’s stock worth $699,000 after acquiring an additional 3,599 shares during the last quarter. Innealta Capital LLC bought a new stake in Amplify Energy during the second quarter worth approximately $26,000. Finally, Rhumbline Advisers increased its stake in Amplify Energy by 4.3% during the second quarter. Rhumbline Advisers now owns 99,236 shares of the company’s stock worth $673,000 after acquiring an additional 4,050 shares during 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.