Amplify Energy’s (AMPY) “Buy” Rating Reaffirmed at Benchmark

Amplify Energy (NYSE:AMPY)‘s stock had its “buy” rating reissued by investment analysts at Benchmark in a research report issued on Thursday,Benzinga reports. They currently have a $11.00 target price on the stock. Benchmark’s target price suggests a potential upside of 84.25% from the stock’s current price.

Amplify Energy Trading Down 7.9 %

Amplify Energy stock opened at $5.97 on Thursday. Amplify Energy has a one year low of $3.56 and a one year high of $8.15. The business’s fifty day moving average is $6.34 and its 200 day moving average is $6.69. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $237.43 million, a PE ratio of 3.88 and a beta of 1.95.

Institutional Investors Weigh In On Amplify Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp raised its stake in Amplify Energy by 27.9% during the 2nd quarter. Mackenzie Financial Corp now owns 17,347 shares of the company’s stock valued at $118,000 after buying an additional 3,780 shares during the last quarter. Rhumbline Advisers increased its position in Amplify Energy by 4.3% during the second quarter. Rhumbline Advisers now owns 99,236 shares of the company’s stock valued at $673,000 after acquiring an additional 4,050 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Amplify Energy by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 113,377 shares of the company’s stock valued at $740,000 after acquiring an additional 4,454 shares during the period. Foundry Partners LLC boosted its position in Amplify Energy by 1.0% in the third quarter. Foundry Partners LLC now owns 570,770 shares of the company’s stock worth $3,727,000 after purchasing an additional 5,410 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of Amplify Energy during the 3rd quarter valued at about $43,000. Hedge funds and other institutional investors own 42.84% of the company’s stock.

Amplify Energy Company Profile

Amplify Energy Corp., together with its subsidiaries, engages in the acquisition, development, exploitation, and production of oil and natural gas properties in the United States. The company’s properties consist of operated and non-operated working interests in producing and undeveloped leasehold acreage, as well as working interests in identified producing wells located in Oklahoma, the Rockies, federal waters offshore Southern California, East Texas/North Louisiana, and Eagle Ford.