Amplify Energy (NYSE:AMPY) Announces Earnings Results

Amplify Energy (NYSE:AMPY) posted its quarterly earnings data on Monday. The company reported ($0.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.99), FiscalAI reports. The firm had revenue of $37.46 million for the quarter, compared to analysts’ expectations of $38.11 million. Amplify Energy had a negative return on equity of 4.10% and a net margin of 16.69%.

Amplify Energy Trading Up 3.9%

Shares of NYSE:AMPY traded up $0.21 during midday trading on Monday, reaching $5.50. The company had a trading volume of 909,759 shares, compared to its average volume of 861,736. The company’s 50 day moving average price is $5.98 and its 200 day moving average price is $5.34. The stock has a market cap of $226.91 million, a P/E ratio of 5.61 and a beta of -0.13. Amplify Energy has a 52-week low of $2.60 and a 52-week high of $6.79.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Weiss Ratings raised shares of Amplify Energy from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, March 12th. Wall Street Zen raised shares of Amplify Energy from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

Insider Buying and Selling at Amplify Energy

In related news, Director Clint D. Coghill sold 501,279 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $6.42, for a total value of $3,218,211.18. Following the transaction, the director directly owned 2,746,836 shares of the company’s stock, valued at approximately $17,634,687.12. The trade was a 15.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 1,000,000 shares of company stock valued at $6,454,822. 10.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amplify Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Strs Ohio purchased a new position in shares of Amplify Energy in the 1st quarter worth about $36,000. Hudson Bay Capital Management LP purchased a new position in shares of Amplify Energy in the 2nd quarter worth about $38,000. Banque Cantonale Vaudoise purchased a new stake in Amplify Energy during the third quarter valued at about $53,000. Focus Partners Wealth purchased a new stake in Amplify Energy during the first quarter valued at about $54,000. Finally, Militia Capital Partners LP purchased a new stake in Amplify Energy during the second quarter valued at about $57,000. 42.84% of the stock is owned by hedge funds and other institutional investors.

About Amplify Energy

Amplify Energy Corp (NYSE: AMPY) is an independent upstream energy company focused on the exploration, development and production of crude oil and natural gas resources in the United States. The company’s operations emphasize both conventional and unconventional plays, combining onshore and offshore activities. Amplify Energy applies advanced reservoir management techniques and disciplined capital allocation to identify and develop reserves with attractive economics while managing commodity price exposure through targeted risk strategies.

The company’s asset portfolio is concentrated along the U.S.