Covestor Ltd Reduces Position in Amplify Energy Corp. (NYSE:AMPY)

Covestor Ltd trimmed its holdings in Amplify Energy Corp. (NYSE:AMPY) by 39.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,077 shares of the company’s stock after selling 7,297 shares during the period. Covestor Ltd’s holdings in Amplify Energy were worth $67,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Invesco Ltd. acquired a new stake in Amplify Energy in the 4th quarter valued at about $65,000. Foundry Partners LLC grew its position in shares of Amplify Energy by 9.5% in the fourth quarter. Foundry Partners LLC now owns 624,730 shares of the company’s stock valued at $3,748,000 after purchasing an additional 53,960 shares in the last quarter. ExodusPoint Capital Management LP acquired a new stake in shares of Amplify Energy in the fourth quarter valued at approximately $105,000. Rangeley Capital LLC purchased a new position in Amplify Energy during the fourth quarter worth approximately $8,154,000. Finally, Wellington Management Group LLP boosted its stake in Amplify Energy by 144.2% during the fourth quarter. Wellington Management Group LLP now owns 26,093 shares of the company’s stock worth $157,000 after buying an additional 15,406 shares during the last quarter. 42.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMPY. Benchmark reaffirmed a “buy” rating and issued a $11.00 target price on shares of Amplify Energy in a research note on Thursday, January 16th. Industrial Alliance Securities set a $8.50 target price on shares of Amplify Energy in a report on Friday, March 7th. Finally, Alliance Global Partners restated a “buy” rating on shares of Amplify Energy in a report on Friday, March 7th.

Amplify Energy Stock Performance

NYSE AMPY opened at $2.30 on Tuesday. The stock has a market cap of $92.77 million, a PE ratio of 1.49 and a beta of 1.33. Amplify Energy Corp. has a twelve month low of $2.27 and a twelve month high of $8.15. The stock has a fifty day simple moving average of $4.10 and a 200-day simple moving average of $5.56. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.29.

Amplify Energy (NYSE:AMPY) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.17). Amplify Energy had a net margin of 20.99% and a return on equity of 16.22%. The company had revenue of $69.02 million for the quarter, compared to analyst estimates of $76.04 million. Equities analysts anticipate that Amplify Energy Corp. will post 1.25 earnings per share for the current year.

Insider Buying and Selling at Amplify Energy

In other Amplify Energy news, Director Deborah G. Adams acquired 10,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average price of $4.14 per share, with a total value of $41,400.00. Following the completion of the purchase, the director now owns 61,961 shares in the company, valued at $256,518.54. This trade represents a 19.25 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Todd R. Snyder bought 25,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $3.83 per share, for a total transaction of $95,750.00. Following the completion of the purchase, the director now owns 108,416 shares in the company, valued at $415,233.28. This trade represents a 29.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 50,000 shares of company stock valued at $194,900 over the last quarter. 1.96% of the stock is owned by company insiders.

Amplify Energy Profile

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.