Amplify Energy (NYSE:AMPY) Stock Price Down 4.2% – Here’s Why

Amplify Energy Corp. (NYSE:AMPY)’s share price was down 4.2% during mid-day trading on Friday . The stock traded as low as $3.94 and last traded at $3.9550. Approximately 566,702 shares changed hands during trading, a decline of 33% from the average daily volume of 840,124 shares. The stock had previously closed at $4.13.

Analysts Set New Price Targets

AMPY has been the subject of a number of analyst reports. Wall Street Zen cut Amplify Energy from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings lowered shares of Amplify Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Monday, June 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat, Amplify Energy presently has a consensus rating of “Sell”.

Amplify Energy Trading Down 4.2%

The stock has a market cap of $163.30 million, a price-to-earnings ratio of 19.77 and a beta of -0.19. The firm has a fifty day simple moving average of $4.31 and a 200-day simple moving average of $5.11.

Amplify Energy (NYSE:AMPY) last issued 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). The business had revenue of $37.46 million during the quarter, compared to the consensus estimate of $38.11 million. Amplify Energy had a net margin of 5.12% and a negative return on equity of 3.71%.

Insider Buying and Selling

In other Amplify Energy news, insider James Frew acquired 25,000 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were bought at an average cost of $3.95 per share, for a total transaction of $98,750.00. Following the completion of the acquisition, the insider directly owned 216,859 shares of the company’s stock, valued at approximately $856,593.05. This trade represents a 13.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.99% of the company’s stock.

Hedge Funds Weigh In On Amplify Energy

A number of institutional investors have recently bought and sold shares of the business. Invesco Ltd. lifted its position in shares of Amplify Energy by 125.6% in the first quarter. Invesco Ltd. now owns 24,524 shares of the company’s stock valued at $92,000 after buying an additional 13,654 shares during the last quarter. AQR Capital Management LLC raised its stake in Amplify Energy by 38.4% in the 1st quarter. AQR Capital Management LLC now owns 393,489 shares of the company’s stock valued at $1,472,000 after acquiring an additional 109,187 shares during the period. Empowered Funds LLC raised its stake in Amplify Energy by 8.7% in the 1st quarter. Empowered Funds LLC now owns 169,229 shares of the company’s stock valued at $633,000 after acquiring an additional 13,607 shares during the period. Jane Street Group LLC lifted its holdings in Amplify Energy by 14.6% during the 1st quarter. Jane Street Group LLC now owns 99,440 shares of the company’s stock valued at $372,000 after purchasing an additional 12,655 shares during the last quarter. Finally, Focus Partners Wealth acquired a new stake in Amplify Energy during the 1st quarter valued at $54,000. Institutional investors and hedge funds 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.