Amplify Energy (NYSE:AMPY) Releases Quarterly Earnings Results, Hits Expectations

Amplify Energy (NYSE:AMPY) posted its quarterly earnings data on Monday. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02, FiscalAI reports. The firm had revenue of $51.44 million during the quarter, compared to analyst estimates of $43.73 million. Amplify Energy had a negative return on equity of 3.01% and a net margin of 10.62%.

Amplify Energy Stock Down 3.8%

AMPY stock traded down $0.12 during trading on Monday, reaching $3.21. The company’s stock had a trading volume of 1,517,651 shares, compared to its average volume of 779,230. Amplify Energy has a 1 year low of $3.14 and a 1 year high of $6.79. The company has a market capitalization of $132.88 million, a P/E ratio of 7.12 and a beta of 0.26. The company’s fifty day moving average is $4.44 and its 200-day moving average is $4.88.

Analyst Ratings Changes

AMPY has been the subject of a number of analyst reports. Weiss Ratings upgraded Amplify Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Benchmark cut their price objective on Amplify Energy from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Finally, Wall Street Zen raised shares of Amplify Energy from a “strong sell” rating to a “hold” rating in a report on Sunday, August 16th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.00.

Amplify Energy Company Profile

Amplify Energy Corp. is an independent oil and natural gas exploration and production company headquartered in Houston, Texas. The company focuses on acquiring, developing, exploiting and producing crude oil and natural gas properties in the United States.

Amplify Energy’s operations have included three core areas: the Beta field and other offshore properties in Southern California, oil and gas assets in the Rockies, and producing properties in East Texas. Its activities include drilling and developing wells, operating production facilities and managing related infrastructure used to bring hydrocarbons to market.

The company was formed in 2016 following the separation of certain assets from Memorial Production Partners.