Brokers Set Expectations for Amplify Energy Corp.’s FY2024 Earnings (NYSE:AMPY)

Amplify Energy Corp. (NYSE:AMPY) – Analysts at Roth Capital decreased their FY2024 earnings per share (EPS) estimates for Amplify Energy in a research report issued on Friday, April 12th. Roth Capital analyst J. White now anticipates that the company will post earnings per share of $1.15 for the year, down from their prior estimate of $1.30. The consensus estimate for Amplify Energy’s current full-year earnings is $1.15 per share.

A number of other equities research analysts also recently issued reports on AMPY. Roth Mkm reissued a “buy” rating and set a $9.50 price target on shares of Amplify Energy in a research report on Friday, April 12th. Alliance Global Partners initiated coverage on Amplify Energy in a research report on Monday, January 22nd. They set a “buy” rating and a $9.00 price target on the stock.

Amplify Energy Price Performance

Shares of NYSE AMPY opened at $7.12 on Monday. The firm has a market cap of $282.04 million, a P/E ratio of 0.74 and a beta of 2.10. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29. Amplify Energy has a 1-year low of $3.56 and a 1-year high of $8.21. The business’s 50 day moving average is $6.33 and its 200-day moving average is $6.32.

Amplify Energy (NYSE:AMPY) last announced its earnings results on Wednesday, March 6th. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.86. The company had revenue of $78.99 million for the quarter, compared to analyst estimates of $73.33 million. Amplify Energy had a return on equity of 10.50% and a net margin of 122.36%.

Institutional Investors Weigh In On Amplify Energy

A number of large investors have recently modified their holdings of the business. State of Wyoming acquired a new stake in shares of Amplify Energy during the 2nd quarter valued at $27,000. Quarry LP acquired a new stake in shares of Amplify Energy during the 2nd quarter valued at $29,000. Credit Suisse AG acquired a new stake in shares of Amplify Energy during the 2nd quarter valued at $40,000. ADAR1 Capital Management LLC acquired a new stake in shares of Amplify Energy during the 4th quarter valued at $42,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Amplify Energy by 154.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,481 shares of the company’s stock valued at $50,000 after acquiring an additional 5,145 shares in the last quarter. Institutional investors and hedge funds own 42.84% of the company’s stock.

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.