Alta Mesa Resources Inc (NASDAQ:AMR)’s share price traded down 5.7% on Friday . The company traded as low as $0.33 and last traded at $0.33. 8,324 shares were traded during trading, a decline of 100% from the average session volume of 2,815,843 shares. The stock had previously closed at $0.35.
A number of research firms have commented on AMR. Goldman Sachs Group lowered their price objective on Alta Mesa Resources to $6.50 in a research note on Sunday, December 2nd. Guggenheim lowered Alta Mesa Resources from a “buy” rating to a “sell” rating in a research note on Tuesday, February 26th. Zacks Investment Research lowered Alta Mesa Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, February 12th. Finally, ValuEngine upgraded Alta Mesa Resources from a “strong sell” rating to a “sell” rating in a research note on Friday, January 25th. Three investment analysts have rated the stock with a sell rating, two have given 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 $8.14.
The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.20.
Several institutional investors and hedge funds have recently modified their holdings of the company. Teachers Advisors LLC increased its stake in shares of Alta Mesa Resources by 8.8% in the 3rd quarter. Teachers Advisors LLC now owns 198,580 shares of the company’s stock valued at $830,000 after purchasing an additional 16,081 shares during the last quarter. California Public Employees Retirement System bought a new position in shares of Alta Mesa Resources in the 2nd quarter valued at $119,000. Baker Avenue Asset Management LP boosted its holdings in shares of Alta Mesa Resources by 10.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 221,253 shares of the company’s stock valued at $925,000 after acquiring an additional 20,835 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Alta Mesa Resources by 50.2% during the 3rd quarter. Alliancebernstein L.P. now owns 67,300 shares of the company’s stock valued at $281,000 after acquiring an additional 22,500 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of Alta Mesa Resources by 1,359.7% during 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 in the last quarter. Institutional investors own 76.76% of the company’s stock.
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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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