Brokerages forecast that Alta Mesa Resources Inc (NASDAQ:AMR) will report $123.52 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Alta Mesa Resources’ earnings, with the highest sales estimate coming in at $140.04 million and the lowest estimate coming in at $107.00 million. The business is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Alta Mesa Resources will report full-year sales of $446.69 million for the current year, with estimates ranging from $394.00 million to $499.39 million. For the next financial year, analysts anticipate that the firm will post sales of $402.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Alta Mesa Resources.

Several research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Alta Mesa Resources from a “hold” rating to a “sell” rating in a research report on Monday, April 8th. Guggenheim downgraded shares of Alta Mesa Resources from a “buy” rating to a “sell” rating in a research report on Tuesday, February 26th. Finally, ValuEngine raised shares of Alta Mesa Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $8.14.

AMR opened at $0.23 on Tuesday. 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 $0.20 and a 1-year high of $7.92.

Several hedge funds and other institutional investors have recently made changes to their positions in AMR. Citigroup Inc. grew its stake in Alta Mesa Resources by 1,359.7% during the fourth quarter. Citigroup Inc. now owns 27,501 shares of the company’s stock valued at $27,000 after acquiring an additional 25,617 shares in the last quarter. Virtu Financial LLC purchased a new position in Alta Mesa Resources during the fourth quarter valued at $32,000. Raymond James Financial Services Advisors Inc. purchased a new position in Alta Mesa Resources during the fourth quarter valued at $38,000. RBF Capital LLC purchased a new position in Alta Mesa Resources during the fourth quarter valued at $44,000. Finally, HRT Financial LLC purchased a new position in Alta Mesa Resources during the fourth quarter valued at $45,000. 76.76% of the stock is owned by hedge funds and other institutional investors.

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.

Recommended Story: Back-End Load

Get a free copy of the Zacks research report on Alta Mesa Resources (AMR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Alta Mesa Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alta Mesa Resources and related companies with MarketBeat.com's FREE daily email newsletter.