SummerHaven Investment Management LLC Buys 5,788 Shares of Amplify Energy Corp. $AMPY

SummerHaven Investment Management LLC raised its stake in Amplify Energy Corp. (NYSE:AMPY) by 5.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 120,602 shares of the company’s stock after purchasing an additional 5,788 shares during the quarter. SummerHaven Investment Management LLC’s holdings in Amplify Energy were worth $386,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Strs Ohio bought a new position in Amplify Energy in the first quarter valued at approximately $36,000. BNP Paribas Financial Markets bought a new position in shares of Amplify Energy during the 4th quarter worth approximately $38,000. Wagner Wealth Management LLC bought a new position in shares of Amplify Energy during the 2nd quarter worth approximately $43,000. Focus Partners Wealth bought a new position in shares of Amplify Energy during the 1st quarter worth approximately $54,000. Finally, Ancora Advisors LLC bought a new position in shares of Amplify Energy during the 1st quarter worth approximately $56,000. 42.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AMPY has been the subject of several research analyst reports. Wall Street Zen downgraded Amplify Energy from a “hold” rating to a “sell” rating in a research note on Friday, June 6th. Alliance Global Partners initiated coverage on Amplify Energy in a research note on Monday, June 30th. They set a “buy” rating and a $6.00 target price for the company. Finally, Benchmark reiterated a “buy” rating on shares of Amplify Energy in a research note on Thursday, July 3rd. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Amplify Energy has an average rating of “Buy” and an average price target of $8.50.

Amplify Energy Stock Performance

NYSE:AMPY opened at $5.49 on Tuesday. The stock has a market cap of $222.18 million, a P/E ratio of 15.69 and a beta of 0.52. The stock has a 50 day simple moving average of $4.09 and a 200 day simple moving average of $3.47. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.32. Amplify Energy Corp. has a 1-year low of $2.27 and a 1-year high of $7.35.

Amplify Energy (NYSE:AMPY) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.12). The firm had revenue of $68.36 million for the quarter, compared to analyst estimates of $68.51 million. Amplify Energy had a return on equity of 6.61% and a net margin of 5.64%. Research analysts anticipate that Amplify Energy Corp. will post 1.25 earnings per share for the current year.

Insider Activity at Amplify Energy

In other news, insider James Frew purchased 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was acquired at an average cost of $3.70 per share, with a total value of $92,500.00. Following the acquisition, the insider owned 129,222 shares in the company, valued at approximately $478,121.40. This trade represents a 23.99% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Clint D. Coghill purchased 65,494 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The shares were purchased at an average cost of $3.89 per share, with a total value of $254,771.66. Following the completion of the acquisition, the director owned 3,504,347 shares in the company, valued at $13,631,909.83. The trade was a 1.90% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 425,000 shares of company stock valued at $1,603,845. 10.30% of the stock is currently owned by insiders.

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.