Northland Securities Initiates Coverage on Amplify Energy (OTCMKTS:AMPY)

Equities researchers at Northland Securities assumed coverage on shares of Amplify Energy (OTCMKTS:AMPY) in a research report issued on Monday, Stock Target Advisor reports. The brokerage set a “buy” rating and a $10.00 price target on the stock. Northland Securities’ price objective points to a potential upside of 95.69% from the stock’s previous close.

Separately, Roth Capital initiated coverage on shares of Amplify Energy in a research report on Friday, November 22nd. They issued a “buy” rating and a $10.50 price objective for the company.

Shares of OTCMKTS AMPY opened at $5.11 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a 50 day moving average price of $6.55 and a 200 day moving average price of $6.00. The stock has a market capitalization of $218.68 million, a PE ratio of 7.91 and a beta of 0.64. Amplify Energy has a 52 week low of $4.01 and a 52 week high of $13.23.

Amplify Energy (OTCMKTS:AMPY) last released its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter. The business had revenue of $72.96 million during the quarter. Amplify Energy had a net margin of 6.27% and a return on equity of 5.15%.

In other Amplify Energy news, major shareholder Brigade Capital Management, Lp sold 500,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $5.37, for a total value of $2,685,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Christopher W. Hamm sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $54.68, for a total transaction of $273,400.00. Insiders have sold a total of 544,592 shares of company stock worth $3,218,639 over the last three months. 0.84% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of AMPY. Mackay Shields LLC acquired a new stake in shares of Amplify Energy during the 3rd quarter worth approximately $1,616,000. Quantum Capital Management acquired a new stake in Amplify Energy during the 3rd quarter valued at approximately $2,807,000. Meeder Asset Management Inc. acquired a new stake in shares of Amplify Energy during the third quarter worth $99,000. Municipal Employees Retirement System of Michigan acquired a new stake in Amplify Energy during the 3rd quarter worth about $332,000. Finally, Factorial Partners LLC bought a new stake in Amplify Energy in the second quarter worth approximately $328,000. 0.27% of the stock is currently owned by hedge funds and other institutional investors.

About Amplify Energy

Amplify Energy Corp. 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 the Rockies, federal waters offshore Southern California, East Texas/North Louisiana, and South Texas.

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