Equities analysts expect Alta Mesa Resources Inc (NASDAQ:AMR) to post sales of $140.98 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Alta Mesa Resources’ earnings, with estimates ranging from $122.00 million to $159.95 million. The company is scheduled to report its next earnings report on Monday, November 12th.

According to Zacks, analysts expect that Alta Mesa Resources will report full year sales of $535.67 million for the current year, with estimates ranging from $488.00 million to $583.34 million. For the next year, analysts expect that the business will post sales of $938.19 million per share, with estimates ranging from $807.00 million to $1.07 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Alta Mesa Resources.

Alta Mesa Resources (NASDAQ:AMR) last announced its earnings results on Tuesday, August 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.14). The company had revenue of $93.14 million during the quarter, compared to the consensus estimate of $131.93 million. The business’s revenue for the quarter was up 16.7% on a year-over-year basis.

AMR has been the topic of several research analyst reports. Stifel Nicolaus cut their target price on Alta Mesa Resources from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, August 22nd. ValuEngine lowered Alta Mesa Resources from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 29th. Zacks Investment Research upgraded Alta Mesa Resources from a “sell” rating to a “hold” rating and set a $7.50 target price on the stock in a research report on Thursday, May 31st. Goldman Sachs Group initiated coverage on Alta Mesa Resources in a research report on Tuesday, July 10th. They set a “buy” rating and a $8.25 target price on the stock. Finally, Guggenheim initiated coverage on Alta Mesa Resources in a research report on Monday, July 30th. They set a “buy” rating and a $10.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Alta Mesa Resources presently has an average rating of “Hold” and a consensus target price of $8.89.

Shares of Alta Mesa Resources stock opened at $4.68 on Friday. Alta Mesa Resources has a one year low of $4.04 and a one year high of $10.79. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.94 and a current ratio of 0.94.

Alta Mesa Resources announced that its Board of Directors has approved a stock repurchase plan on Tuesday, August 14th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

In other news, Director Bayou City Energy Management L purchased 3,400,800 shares of the business’s stock in a transaction on Tuesday, August 21st. The shares were acquired at an average price of $4.34 per share, for a total transaction of $14,759,472.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have purchased 4,133,911 shares of company stock worth $18,294,607. 0.21% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC bought a new position in Alta Mesa Resources in the first quarter worth approximately $105,000. Teacher Retirement System of Texas bought a new position in Alta Mesa Resources in the second quarter worth approximately $105,000. California Public Employees Retirement System bought a new position in Alta Mesa Resources in the second quarter worth approximately $119,000. Quantitative Systematic Strategies LLC bought a new position in Alta Mesa Resources in the first quarter worth approximately $143,000. Finally, Citigroup Inc. bought a new position in Alta Mesa Resources in the first quarter worth approximately $161,000. Institutional investors and hedge funds own 53.52% of the company’s stock.

Alta Mesa Resources Company Profile

Alta Mesa Resources, Inc focuses on the acquisition and development of unconventional oil and natural gas reserves in the Anadarko Basin. It also offers midstream energy services, including crude oil and gas gathering, processing, and marketing to producers of natural gas, natural gas liquids, crude oil, and condensate in the STACK Play region of Oklahoma.

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Earnings History and Estimates for Alta Mesa Resources (NASDAQ:AMR)

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