Amplify Energy (NYSE:AMPY) Given “Buy” Rating at Benchmark

Benchmark restated their buy rating on shares of Amplify Energy (NYSE:AMPY) in a research report report published on Wednesday, Benzinga reports. The brokerage currently has a $11.00 price objective on the stock.

Separately, Alliance Global Partners raised 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 Stock Down 1.1 %

AMPY opened at $6.56 on Wednesday. The firm has a market capitalization of $259.85 million, a P/E ratio of 8.99 and a beta of 1.94. Amplify Energy has a one year low of $3.56 and a one year high of $8.15. The company has a fifty day moving average price of $6.81 and a 200-day moving average price of $6.76. 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 posted 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). Amplify Energy had a return on equity of 7.40% and a net margin of 8.95%. The business had revenue of $79.50 million for the quarter, compared to analysts’ expectations of $79.62 million. During the same quarter in the previous year, the firm earned $0.24 earnings per share. Equities research analysts expect that Amplify Energy will post 1.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in Amplify Energy during the second quarter valued at approximately $26,000. Fortitude Family Office LLC lifted its stake in Amplify Energy by 167.5% in 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 stake in Amplify Energy during the second quarter valued at about $52,000. Price T Rowe Associates Inc. MD bought a new position in shares of Amplify Energy during the first quarter valued at about $67,000. Finally, Creative Planning purchased a new position in shares of Amplify Energy in the third quarter worth about $67,000. 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.