Amplify Energy (NYSE:AMPY) Trading 3.7% Higher – Here’s What Happened

Amplify Energy Corp. (NYSE:AMPY)’s share price was up 3.7% during mid-day trading on Monday . The stock traded as high as $4.55 and last traded at $4.5310. Approximately 892,155 shares traded hands during trading, an increase of 29% from the average daily volume of 691,618 shares. The stock had previously closed at $4.37.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AMPY shares. Wall Street Zen cut shares of Amplify Energy from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings cut shares of Amplify Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Monday, June 1st. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.00.

Amplify Energy Price Performance

The company’s 50-day moving average is $5.48 and its 200-day moving average is $5.35. The firm has a market capitalization of $187.08 million, a price-to-earnings ratio of 22.66 and a beta of -0.21.

Amplify Energy (NYSE:AMPY) last released its earnings results on Monday, May 11th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.99). Amplify Energy had a negative return on equity of 3.71% and a net margin of 5.12%.The company had revenue of $37.46 million during the quarter, compared to analyst estimates of $38.11 million.

Insider Activity

In other 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 sale, the director owned 2,504,347 shares in the company, valued at $15,802,429.57. This trade represents a 8.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 1,000,000 shares of company stock worth $6,454,822 in the last 90 days. Company insiders own 8.99% of the company’s stock.

Institutional Trading of Amplify Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in AMPY. Thomist Capital Management LP increased its stake in shares of Amplify Energy by 109.8% in the fourth quarter. Thomist Capital Management LP now owns 3,147,130 shares of the company’s stock worth $14,571,000 after buying an additional 1,647,130 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Amplify Energy in the first quarter worth $5,390,000. Truffle Hound Capital LLC increased its stake in shares of Amplify Energy by 56.3% in the fourth quarter. Truffle Hound Capital LLC now owns 1,250,000 shares of the company’s stock worth $5,712,000 after buying an additional 450,000 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Amplify Energy by 76.4% in the fourth quarter. Marshall Wace LLP now owns 954,725 shares of the company’s stock worth $4,363,000 after buying an additional 413,512 shares during the last quarter. Finally, Walleye Capital LLC increased its stake in shares of Amplify Energy by 483.1% in the fourth quarter. Walleye Capital LLC now owns 462,247 shares of the company’s stock worth $2,112,000 after buying an additional 382,969 shares during the last quarter. Institutional investors own 42.84% of the company’s stock.

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.