Yacktman Asset Management LP Buys 50,000 Shares of Amplify Energy Corp. $AMPY

Yacktman Asset Management LP lifted its stake in Amplify Energy Corp. (NYSE:AMPY) by 26.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 240,000 shares of the company’s stock after acquiring an additional 50,000 shares during the period. Yacktman Asset Management LP’s holdings in Amplify Energy were worth $768,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AMPY. Acadian Asset Management LLC boosted its holdings in shares of Amplify Energy by 71.6% in the first quarter. Acadian Asset Management LLC now owns 639,998 shares of the company’s stock worth $2,388,000 after acquiring an additional 266,947 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in Amplify Energy during the first quarter valued at $649,000. Ethic Inc. bought a new stake in Amplify Energy during the first quarter valued at $522,000. American Century Companies Inc. boosted its stake in Amplify Energy by 10.9% during the first quarter. American Century Companies Inc. now owns 1,204,368 shares of the company’s stock valued at $4,504,000 after buying an additional 118,723 shares during the period. Finally, Petrus Trust Company LTA bought a new stake in Amplify Energy during the first quarter valued at $413,000. 42.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Amplify Energy in a research note on Thursday, October 30th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.50.

Amplify Energy Trading Up 1.6%

Shares of AMPY stock opened at $4.57 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average price of $4.54 and a two-hundred day moving average price of $3.74. Amplify Energy Corp. has a 12-month low of $2.27 and a 12-month high of $7.23. The firm has a market cap of $184.93 million, a P/E ratio of 13.06 and a beta of 0.44.

Amplify Energy (NYSE:AMPY) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.12). Amplify Energy had a return on equity of 6.61% and a net margin of 5.64%.The firm had revenue of $68.36 million for the quarter, compared to the consensus estimate of $68.51 million. Equities analysts anticipate that Amplify Energy Corp. will post 1.25 EPS for the current fiscal year.

Insider Activity

In related news, Director Clint D. Coghill acquired 65,494 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were purchased at an average price of $3.89 per share, for a total transaction of $254,771.66. Following the completion of the acquisition, the director owned 3,504,347 shares in the company, valued at approximately $13,631,909.83. This represents a 1.90% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider James Frew acquired 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was bought at an average price of $3.70 per share, for a total transaction of $92,500.00. Following the acquisition, the insider owned 129,222 shares of the company’s stock, valued at approximately $478,121.40. This trade represents a 23.99% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have acquired 425,000 shares of company stock valued at $1,603,845. Corporate insiders own 10.30% of the company’s stock.

Amplify Energy Company Profile

Amplify Energy Corp., together with its subsidiaries, 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 Oklahoma, the Rockies, federal waters offshore Southern California, East Texas/North Louisiana, and Eagle Ford.