Amplify Energy (NYSE:AMPY) Announces Earnings Results, Misses Expectations By $0.99 EPS

Amplify Energy (NYSE:AMPY) released its earnings results on Monday. The company reported ($0.93) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.99), FiscalAI reports. The company had revenue of $37.46 million during the quarter, compared to analyst estimates of $38.11 million. Amplify Energy had a negative return on equity of 3.70% and a net margin of 5.12%.

Amplify Energy Trading Down 2.5%

NYSE AMPY traded down $0.13 on Wednesday, hitting $5.14. 648,655 shares of the company’s stock traded hands, compared to its average volume of 865,108. Amplify Energy has a 1-year low of $2.60 and a 1-year high of $6.79. The firm’s 50-day moving average price is $5.97 and its two-hundred day moving average price is $5.36. The firm has a market capitalization of $212.07 million, a PE ratio of 25.73 and a beta of -0.13.

Insider Buying and Selling

In other Amplify Energy news, Director Clint D. Coghill sold 242,489 shares of Amplify Energy stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $6.31, for a total transaction of $1,530,105.59. Following the completion of the sale, the director directly owned 2,504,347 shares in the company, valued at approximately $15,802,429.57. The trade was a 8.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 1,000,000 shares of company stock worth $6,454,822. Insiders own 10.30% of the company’s stock.

Institutional Trading of Amplify Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Invesco Ltd. increased its holdings in shares of Amplify Energy by 58.2% during the 4th quarter. Invesco Ltd. now owns 119,957 shares of the company’s stock valued at $548,000 after purchasing an additional 44,115 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Amplify Energy by 11.0% during the 4th quarter. Empowered Funds LLC now owns 230,422 shares of the company’s stock valued at $1,053,000 after purchasing an additional 22,922 shares in the last quarter. XTX Topco Ltd increased its holdings in shares of Amplify Energy by 45.6% during the 4th quarter. XTX Topco Ltd now owns 22,992 shares of the company’s stock valued at $105,000 after purchasing an additional 7,201 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of Amplify Energy during the 4th quarter valued at approximately $106,000. Finally, Boothbay Fund Management LLC purchased a new position in shares of Amplify Energy during the 4th quarter valued at approximately $295,000. 42.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on AMPY shares. Wall Street Zen upgraded shares of Amplify Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Weiss Ratings upgraded shares of Amplify Energy from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, March 12th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.

About Amplify Energy

Amplify Energy Corp (NYSE: AMPY) is an independent upstream energy company focused on the exploration, development and production of crude oil and natural gas resources in the United States. The company’s operations emphasize both conventional and unconventional plays, combining onshore and offshore activities. Amplify Energy applies advanced reservoir management techniques and disciplined capital allocation to identify and develop reserves with attractive economics while managing commodity price exposure through targeted risk strategies.

The company’s asset portfolio is concentrated along the U.S.