Amplify Energy (OTCMKTS:AMPY) Coverage Initiated by Analysts at Northland Securities

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Northland Securities assumed coverage on shares of Amplify Energy (OTCMKTS:AMPY) in a research note issued to investors on Monday morning, Stock Target Advisor reports. The firm issued a buy rating and a $10.00 price objective on the stock.

Separately, Roth Capital began coverage on Amplify Energy in a research note on Friday, November 22nd. They issued a buy rating and a $10.50 target price for the company.

AMPY stock opened at $5.11 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.02 and a current ratio of 1.02. Amplify Energy has a 1 year low of $4.01 and a 1 year high of $13.23. The firm has a market cap of $204.29 million, a P/E ratio of 7.91 and a beta of 0.64. The stock has a 50-day simple moving average of $6.52 and a 200-day simple moving average of $5.98.

Amplify Energy (OTCMKTS:AMPY) last posted its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter. Amplify Energy had a return on equity of 5.15% and a net margin of 6.27%. The business had revenue of $72.96 million during the quarter.

In other Amplify Energy news, major shareholder Brigade Capital Management, Lp sold 25,276 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $6.56, for a total transaction of $165,810.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher W. Hamm sold 4,316 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $6.61, for a total value of $28,528.76. In the last 90 days, insiders have sold 544,592 shares of company stock valued at $3,218,639. 0.84% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of AMPY. Quantum Capital Management acquired a new position in shares of Amplify Energy in the 3rd quarter worth approximately $2,807,000. State Street Corp acquired a new position in shares of Amplify Energy in the 3rd quarter worth approximately $2,685,000. Mackay Shields LLC acquired a new position in shares of Amplify Energy in the 3rd quarter worth approximately $1,616,000. Man Group plc acquired a new position in shares of Amplify Energy in the 3rd quarter worth approximately $432,000. Finally, Factorial Partners LLC acquired a new position in shares of Amplify Energy in the 2nd quarter worth approximately $328,000. Institutional investors own 0.27% of the company’s stock.

About Amplify Energy

Amplify Energy Corp. 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 the Rockies, federal waters offshore Southern California, East Texas/North Louisiana, and South Texas.

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