Amplify Energy (NYSE:AMPY) Shares Up 1.9% – Should You Buy?

Amplify Energy Corp. (NYSE:AMPY) traded up 1.9% during mid-day trading on Monday. The stock traded as high as $4.54 and last traded at $4.5150. 437,471 shares traded hands during mid-day trading, a decline of 7% from the average daily volume of 472,510 shares. The stock had previously closed at $4.43.

Wall Street Analyst Weigh In

AMPY has been the subject of several analyst reports. Weiss Ratings raised shares of Amplify Energy from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Wall Street Zen upgraded Amplify Energy from a “strong sell” rating to a “hold” rating in a research report on Sunday, August 16th. Finally, Benchmark lowered their price target on Amplify Energy from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $9.00.

Amplify Energy Trading Up 1.9%

The company has a market capitalization of $187.19 million, a price-to-earnings ratio of 10.03 and a beta of 0.07. The firm has a 50-day moving average price of $4.62 and a 200-day moving average price of $4.70.

Amplify Energy (NYSE:AMPY) last released its earnings results on Monday, August 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.12). Amplify Energy had a negative return on equity of 3.01% and a net margin of 10.62%. The firm had revenue of $52.69 million for the quarter, compared to analyst estimates of $43.61 million.

Institutional Trading of Amplify Energy

Several institutional investors and hedge funds have recently bought and sold shares of AMPY. BlackRock Inc. acquired a new stake in shares of Amplify Energy in the second quarter worth $9,800,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Amplify Energy in the 1st quarter valued at about $5,390,000. GSA Capital Partners LLP purchased a new stake in shares of Amplify Energy in the second quarter worth approximately $1,655,000. Empowered Funds LLC purchased a new stake in shares of Amplify Energy in the second quarter worth approximately $1,086,000. Finally, State Street Corp boosted its holdings in shares of Amplify Energy by 135.7% during the second quarter. State Street Corp now owns 398,857 shares of the company’s stock worth $1,587,000 after purchasing an additional 229,600 shares during the period. Institutional investors and hedge funds own 42.84% of the company’s stock.

Amplify Energy Company Profile

Amplify Energy Corp. (NYSE: AMPY) is an independent oil and natural gas company engaged in the acquisition, development, exploitation and production of crude oil and natural gas properties. The company focuses on operating and managing mature producing assets, with activities spanning exploration, field development, production and related midstream operations.

Amplify’s portfolio has included properties in the offshore California, East Texas and Rockies regions. Its California operations center on the Beta field and associated infrastructure in the federal waters off Southern California, including production platforms, pipelines and processing facilities.