Alta Mesa Resources (AMR) Shares Gap Down to $0.23

Alta Mesa Resources Inc (NASDAQ:AMR)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $0.13, but opened at $0.23. Alta Mesa Resources shares last traded at $0.24, with a volume of 131637 shares trading hands.

Several equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of Alta Mesa Resources from a “hold” rating to a “sell” rating in a research note on Thursday. ValuEngine downgraded shares of Alta Mesa Resources from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Imperial Capital set a $6.00 price objective on shares of Alta Mesa Resources and gave the company a “hold amr” rating in a research note on Monday, December 24th. Finally, Goldman Sachs Group downgraded shares of Alta Mesa Resources from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $6.50 to $2.50 in a research note on Tuesday, November 27th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $8.14.

The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.20.

Hedge funds and other institutional investors have recently made changes to their positions in the business. California Public Employees Retirement System acquired a new position in Alta Mesa Resources in the 2nd quarter valued at approximately $119,000. Citigroup Inc. increased its position in Alta Mesa Resources by 1,359.7% in the 4th quarter. Citigroup Inc. now owns 27,501 shares of the company’s stock valued at $27,000 after acquiring an additional 25,617 shares during the period. Virtu Financial LLC acquired a new position in Alta Mesa Resources in the 4th quarter valued at approximately $32,000. Raymond James Financial Services Advisors Inc. acquired a new position in Alta Mesa Resources in the 4th quarter valued at approximately $38,000. Finally, Bank of America Corp DE increased its position in Alta Mesa Resources by 1,630.6% in the 2nd quarter. Bank of America Corp DE now owns 38,765 shares of the company’s stock valued at $264,000 after acquiring an additional 36,525 shares during the period. Hedge funds and other institutional investors own 48.72% of the company’s stock.

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About Alta Mesa Resources (NASDAQ:AMR)

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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