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

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. “

AMR has been the topic of a number of other research reports. Goldman Sachs Group lowered Alta Mesa Resources from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $6.50 to $2.50 in a report on Tuesday, November 27th. Imperial Capital set a $6.00 price objective on Alta Mesa Resources and gave the company a “hold amr” rating in a report on Monday, December 24th. Finally, ValuEngine lowered Alta Mesa Resources from a “hold” rating to a “sell” rating in a report on Wednesday, November 21st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Alta Mesa Resources presently has a consensus rating of “Hold” and an average target price of $8.14.

Shares of NASDAQ AMR traded down $0.07 during mid-day trading on Wednesday, hitting $1.05. The company had a trading volume of 1,742,961 shares, compared to its average volume of 1,416,744. 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 has a 1-year low of $0.75 and a 1-year high of $10.79.

Alta Mesa Resources (NASDAQ:AMR) last issued its quarterly earnings data on Tuesday, November 13th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). The business had revenue of $164.80 million during the quarter, compared to the consensus estimate of $130.23 million. The business’s revenue for the quarter was up 161.2% on a year-over-year basis. On average, research analysts forecast that Alta Mesa Resources will post 0.1 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the stock. Teachers Advisors LLC grew its stake in Alta Mesa Resources by 8.8% in the 3rd quarter. Teachers Advisors LLC now owns 198,580 shares of the company’s stock worth $830,000 after acquiring an additional 16,081 shares during the period. California Public Employees Retirement System purchased a new stake in Alta Mesa Resources in the 2nd quarter worth approximately $119,000. Baker Avenue Asset Management LP grew its stake in Alta Mesa Resources by 10.4% in the 3rd quarter. Baker Avenue Asset Management LP now owns 221,253 shares of the company’s stock worth $925,000 after acquiring an additional 20,835 shares during the period. SG Americas Securities LLC purchased a new stake in Alta Mesa Resources in the 2nd quarter worth approximately $146,000. Finally, Alliancebernstein L.P. grew its stake in Alta Mesa Resources by 50.2% in the 3rd quarter. Alliancebernstein L.P. now owns 67,300 shares of the company’s stock worth $281,000 after acquiring an additional 22,500 shares during the period. Hedge funds and other institutional investors own 50.19% of the company’s stock.

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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