Alta Mesa Resources (AMR) Stock Rating Lowered by Zacks Investment Research

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Alta Mesa Resources (NASDAQ:AMR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.

According to Zacks, “Alta Mesa Resources, Inc. is an exploration and production company which focused on the development and acquisition of unconventional oil and natural gas reserves primarily in the eastern portion of the Anadarko Basin. Alta Mesa Resources Inc., formerly known as SILVER RUN ACQ, is based in TX, United States. “

Several other analysts have also recently commented on AMR. ValuEngine upgraded shares of Alta Mesa Resources from a “strong sell” rating to a “sell” rating in a research note on Friday. Imperial Capital set a $6.00 target price on shares of Alta Mesa Resources and gave the stock a “hold amr” rating in a report on Monday, December 24th. Finally, Goldman Sachs Group downgraded shares of Alta Mesa Resources from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $6.50 to $2.50 in a report on Tuesday, November 27th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Alta Mesa Resources presently has an average rating of “Hold” and an average price target of $8.14.

AMR stock traded down $0.05 during mid-day trading on Tuesday, hitting $0.99. The company had a trading volume of 104,166 shares, compared to its average volume of 1,327,567. Alta Mesa Resources has a 12-month low of $0.75 and a 12-month high of $10.79. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.20.

Alta Mesa Resources (NASDAQ:AMR) last announced its quarterly earnings results on Tuesday, November 13th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). The business had revenue of $164.80 million for the quarter, compared to analyst estimates of $130.23 million. The business’s revenue was up 161.2% on a year-over-year basis. On average, sell-side analysts forecast that Alta Mesa Resources will post 0.06 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of AMR. Vanguard Group Inc. grew its holdings in Alta Mesa Resources by 8.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,740,266 shares of the company’s stock valued at $32,354,000 after purchasing an additional 584,171 shares during the last quarter. Vanguard Group Inc grew its holdings in Alta Mesa Resources by 8.2% during the 3rd quarter. Vanguard Group Inc now owns 7,740,266 shares of the company’s stock valued at $32,354,000 after purchasing an additional 584,171 shares during the last quarter. BlackRock Inc. grew its holdings in Alta Mesa Resources by 5.0% during the 3rd quarter. BlackRock Inc. now owns 7,220,795 shares of the company’s stock valued at $30,184,000 after purchasing an additional 341,094 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in Alta Mesa Resources by 2.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 4,905,999 shares of the company’s stock valued at $20,507,000 after purchasing an additional 101,895 shares during the last quarter. Finally, SCP Investment LP bought a new position in Alta Mesa Resources during the 3rd quarter valued at about $8,608,000. Hedge funds and other institutional investors own 50.18% of the company’s stock.

About Alta Mesa Resources

Alta Mesa Resources, Inc focuses on the acquisition and development of unconventional oil and natural gas reserves in the Anadarko Basin. It also offers midstream energy services, including crude oil and gas gathering, processing, and marketing to producers of natural gas, natural gas liquids, crude oil, and condensate in the STACK Play region of Oklahoma.

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