Amplify Energy (NYSE:AMPY) Earns “Buy” Rating from Benchmark

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

Separately, Alliance Global Partners raised their price target on Amplify Energy from $9.00 to $9.50 and gave the stock a “buy” rating in a research note on Friday, August 9th.

Amplify Energy Stock Performance

Shares of AMPY opened at $6.55 on Wednesday. The business’s fifty day simple moving average is $6.78 and its two-hundred day simple moving average is $6.76. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.30. Amplify Energy has a 12 month low of $3.56 and a 12 month high of $8.15. The company has a market cap of $259.46 million, a price-to-earnings ratio of 8.97 and a beta of 1.94.

Amplify Energy (NYSE:AMPY) last issued 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 net margin of 8.95% and a return on equity of 7.40%. 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 prior year, the business posted $0.24 earnings per share. Research analysts anticipate that Amplify Energy will post 1.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amplify Energy

A number of institutional investors and hedge funds have recently modified their holdings of AMPY. American Century Companies Inc. boosted its stake in shares of Amplify Energy by 422.6% in the 2nd quarter. American Century Companies Inc. now owns 385,397 shares of the company’s stock worth $2,613,000 after buying an additional 311,646 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Amplify Energy by 12.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,225,071 shares of the company’s stock worth $15,086,000 after purchasing an additional 251,898 shares during the period. Acadian Asset Management LLC raised its holdings in Amplify Energy by 87.3% in the 2nd quarter. Acadian Asset Management LLC now owns 418,444 shares of the company’s stock worth $2,835,000 after purchasing an additional 195,059 shares during the period. Vanguard Group Inc. raised its holdings in Amplify Energy by 7.1% in the 1st quarter. Vanguard Group Inc. now owns 2,423,704 shares of the company’s stock worth $16,021,000 after purchasing an additional 159,699 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in Amplify Energy in the 1st quarter worth $904,000. 42.84% of the stock is currently owned by hedge funds and other 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.