Alta Mesa Resources Inc (NASDAQ:AMR) – Equities researchers at Imperial Capital issued their Q4 2018 earnings per share (EPS) estimates for Alta Mesa Resources in a research report issued on Wednesday, November 14th. Imperial Capital analyst I. Haas expects that the company will post earnings of $0.11 per share for the quarter. Imperial Capital has a “In-Line” rating and a $6.00 price target on the stock. Imperial Capital also issued estimates for Alta Mesa Resources’ FY2019 earnings at $0.49 EPS.

Alta Mesa Resources (NASDAQ:AMR) last released its quarterly earnings results on Tuesday, November 13th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $164.80 million for the quarter, compared to analysts’ expectations of $130.23 million. Alta Mesa Resources’s quarterly revenue was up 161.2% on a year-over-year basis.

Several other research analysts also recently weighed in on the stock. Guggenheim started coverage on shares of Alta Mesa Resources in a research report on Monday, July 30th. They set a “buy” rating and a $10.00 price target for the company. Stifel Nicolaus reduced their price target on shares of Alta Mesa Resources from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, August 22nd. Zacks Investment Research upgraded shares of Alta Mesa Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, September 26th. Finally, ValuEngine upgraded shares of Alta Mesa Resources from a “sell” rating to a “hold” rating in a research report on Monday, August 20th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $8.49.

AMR opened at $2.29 on Friday. Alta Mesa Resources has a twelve month low of $2.24 and a twelve month high of $10.79. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.94 and a current ratio of 0.94.

Large investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas purchased a new position in shares of Alta Mesa Resources during the 2nd quarter worth approximately $105,000. California Public Employees Retirement System purchased a new position in shares of Alta Mesa Resources during the 2nd quarter worth approximately $119,000. SG Americas Securities LLC purchased a new position in shares of Alta Mesa Resources during the 2nd quarter worth approximately $146,000. NumerixS Investment Technologies Inc purchased a new position in shares of Alta Mesa Resources during the 2nd quarter worth approximately $153,000. Finally, Clear Harbor Asset Management LLC purchased a new position in shares of Alta Mesa Resources during the 3rd quarter worth approximately $182,000. 53.51% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Bayou City Energy Management L acquired 422,000 shares of the stock in a transaction that occurred on Thursday, August 30th. The stock was purchased at an average price of $4.89 per share, with a total value of $2,063,580.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have purchased a total of 4,133,911 shares of company stock valued at $18,294,607 in the last ninety days. 0.21% of the stock is currently owned by corporate insiders.

Alta Mesa Resources declared that its Board of Directors has approved a stock buyback plan on Tuesday, August 14th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Alta Mesa Resources Company Profile

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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Earnings History and Estimates for Alta Mesa Resources (NASDAQ:AMR)

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