Amplify Energy (NYSE:AMPY) Releases Earnings Results, Meets Estimates

Amplify Energy (NYSE:AMPY) issued its quarterly earnings data on Monday. The company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02, FiscalAI reports. The business had revenue of $51.44 million for the quarter, compared to analysts’ expectations of $43.73 million. Amplify Energy had a net margin of 10.62% and a negative return on equity of 3.01%.

Amplify Energy Price Performance

Shares of AMPY traded down $0.12 during mid-day trading on Monday, hitting $3.21. The company’s stock had a trading volume of 1,518,603 shares, compared to its average volume of 780,484. The firm has a 50-day moving average price of $4.44 and a 200 day moving average price of $4.88. Amplify Energy has a fifty-two week low of $3.14 and a fifty-two week high of $6.79. The stock has a market capitalization of $132.88 million, a price-to-earnings ratio of 7.12 and a beta of 0.26.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wall Street Zen raised shares of Amplify Energy from a “strong sell” rating to a “hold” rating in a research note on Sunday, August 16th. Weiss Ratings upgraded shares of Amplify Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Finally, Benchmark reduced their price target on shares of Amplify Energy from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $9.00.

Amplify Energy Company Profile

Amplify Energy Corp. is an independent oil and natural gas exploration and production company headquartered in Houston, Texas. The company focuses on acquiring, developing, exploiting and producing crude oil and natural gas properties in the United States.

Amplify Energy’s operations have included three core areas: the Beta field and other offshore properties in Southern California, oil and gas assets in the Rockies, and producing properties in East Texas. Its activities include drilling and developing wells, operating production facilities and managing related infrastructure used to bring hydrocarbons to market.

The company was formed in 2016 following the separation of certain assets from Memorial Production Partners.