Shares of Alta Mesa Resources Inc (NASDAQ:AMR) have received an average rating of “Hold” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $8.17.

AMR has been the topic of a number of analyst reports. Goldman Sachs Group decreased their target price on shares of Alta Mesa Resources to $6.50 in a research report on Sunday, December 2nd. Zacks Investment Research upgraded shares of Alta Mesa Resources from a “sell” rating to a “hold” rating in a research report on Monday, January 14th. Imperial Capital set a $6.00 target price on shares of Alta Mesa Resources and gave the stock a “hold” rating in a research report on Wednesday, January 2nd. Finally, ValuEngine upgraded shares of Alta Mesa Resources from a “strong sell” rating to a “sell” rating in a research report on Friday, January 25th.

A number of large investors have recently modified their holdings of the stock. HPS Investment Partners LLC purchased a new position in Alta Mesa Resources in the 4th quarter worth $32,346,000. Vanguard Group Inc. raised its position in Alta Mesa Resources by 8.2% in the 3rd quarter. Vanguard Group Inc. now owns 7,740,266 shares of the company’s stock worth $32,354,000 after purchasing an additional 584,171 shares during the period. Vanguard Group Inc increased its position in shares of Alta Mesa Resources by 8.2% in the third quarter. Vanguard Group Inc now owns 7,740,266 shares of the company’s stock valued at $32,354,000 after acquiring an additional 584,171 shares during the period. BlackRock Inc. increased its position in shares of Alta Mesa Resources by 5.0% in the third quarter. BlackRock Inc. now owns 7,220,795 shares of the company’s stock valued at $30,184,000 after acquiring an additional 341,094 shares during the period. Finally, Point72 Asset Management L.P. increased its position in shares of Alta Mesa Resources by 2.1% in the third quarter. Point72 Asset Management L.P. now owns 4,905,999 shares of the company’s stock valued at $20,507,000 after acquiring an additional 101,895 shares during the period. Institutional investors own 76.76% of the company’s stock.

NASDAQ AMR opened at $0.35 on Tuesday. Alta Mesa Resources has a 52-week low of $0.20 and a 52-week high of $8.70. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.59 and a quick ratio of 0.59.

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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