Amplify Energy (NYSE:AMPY) Issues Earnings Results, Misses Expectations By $0.24 EPS

Amplify Energy (NYSE:AMPY) issued its quarterly earnings data on Wednesday. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.24), Zacks reports. Amplify Energy had a return on equity of 6.61% and a net margin of 5.64%.The company had revenue of $66.40 million for the quarter, compared to the consensus estimate of $67.70 million.

Amplify Energy Stock Up 7.5%

Shares of AMPY traded up $0.35 on Thursday, hitting $4.92. 2,499,848 shares of the stock traded hands, compared to its average volume of 952,277. The business has a 50 day simple moving average of $4.54 and a 200 day simple moving average of $3.74. The company has a market capitalization of $198.89 million, a PE ratio of 14.04 and a beta of 0.33. Amplify Energy has a one year low of $2.27 and a one year high of $7.10. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.84 and a current ratio of 0.84.

Insiders Place Their Bets

In other news, insider James Frew bought 50,000 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were bought at an average price of $3.50 per share, for a total transaction of $175,000.00. Following the purchase, the insider owned 104,222 shares in the company, valued at $364,777. This represents a 92.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Clint D. Coghill purchased 167,086 shares of Amplify Energy stock in a transaction on Wednesday, August 13th. The stock was bought at an average price of $3.88 per share, for a total transaction of $648,293.68. Following the completion of the acquisition, the director owned 3,438,853 shares in the company, valued at $13,342,749.64. The trade was a 5.11% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 425,000 shares of company stock worth $1,603,845. 10.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amplify Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Marshall Wace LLP increased its stake in shares of Amplify Energy by 18.5% in the second quarter. Marshall Wace LLP now owns 190,470 shares of the company’s stock worth $610,000 after acquiring an additional 29,669 shares during the period. First Trust Advisors LP grew its holdings in shares of Amplify Energy by 5.1% in the second quarter. First Trust Advisors LP now owns 121,102 shares of the company’s stock valued at $388,000 after purchasing an additional 5,869 shares in the last quarter. Jane Street Group LLC grew its holdings in Amplify Energy by 14.6% during the 1st quarter. Jane Street Group LLC now owns 99,440 shares of the company’s stock worth $372,000 after acquiring an additional 12,655 shares in the last quarter. Brevan Howard Capital Management LP acquired a new position in shares of Amplify Energy in the 2nd quarter valued at $242,000. Finally, Invesco Ltd. raised its position in Amplify Energy by 86.9% in the 2nd quarter. Invesco Ltd. now owns 45,840 shares of the company’s stock valued at $147,000 after purchasing an additional 21,316 shares during the last quarter. Hedge funds and other institutional investors own 42.84% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Amplify Energy in a research report on Thursday, October 30th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.50.

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.