Alta Mesa Resources (NASDAQ:AMR) Trading Down 6.7%

Alta Mesa Resources Inc (NASDAQ:AMR)’s share price was down 6.7% during mid-day trading on Thursday . The company traded as low as $0.14 and last traded at $0.14, approximately 1,438,833 shares were traded during trading. A decline of 58% from the average daily volume of 3,430,753 shares. The stock had previously closed at $0.15.

A number of equities research analysts recently issued reports on AMR shares. Zacks Investment Research raised shares of Alta Mesa Resources from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine raised shares of Alta Mesa Resources from a “strong sell” rating to a “sell” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $6.69.

The stock’s 50-day simple moving average is $0.16.

Hedge funds have recently bought and sold shares of the business. Citigroup Inc. increased its position in Alta Mesa Resources by 1,359.7% during the fourth 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 last quarter. Raymond James Financial Services Advisors Inc. bought a new position in Alta Mesa Resources during the fourth quarter valued at $38,000. Jane Street Group LLC bought a new position in Alta Mesa Resources during the fourth quarter valued at $59,000. D. E. Shaw & Co. Inc. bought a new position in Alta Mesa Resources during the fourth quarter valued at $60,000. Finally, Two Sigma Advisers LP grew its holdings in shares of Alta Mesa Resources by 984.3% in the fourth quarter. Two Sigma Advisers LP now owns 117,100 shares of the company’s stock worth $117,000 after purchasing an additional 106,300 shares during the last quarter. Institutional investors and hedge funds own 49.07% of the company’s stock.

Alta Mesa Resources Company Profile (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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