Amplify Energy Target of Unusually High Options Trading (NYSE:AMPY)

Amplify Energy Corp. (NYSE:AMPY) was the recipient of some unusual options trading activity on Tuesday. Traders purchased 6,070 put options on the stock. This represents an increase of approximately 203% compared to the typical daily volume of 2,003 put options.

Amplify Energy Trading Up 0.1%

Shares of NYSE:AMPY opened at $5.26 on Thursday. Amplify Energy has a 1 year low of $2.27 and a 1 year high of $7.35. The firm has a market capitalization of $212.67 million, a price-to-earnings ratio of 15.01 and a beta of 0.43. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.84 and a quick ratio of 0.84. The business’s 50 day moving average price is $4.14 and its 200-day moving average price is $3.49.

Amplify Energy (NYSE:AMPY) last announced its earnings results on Wednesday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.12). Amplify Energy had a net margin of 5.64% and a return on equity of 6.61%. The business had revenue of $68.36 million for the quarter, compared to analysts’ expectations of $68.51 million. On average, equities research analysts forecast that Amplify Energy will post 1.25 earnings per share for the current fiscal year.

Insider Activity

In related news, insider James Frew acquired 50,000 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were purchased at an average price of $3.50 per share, for a total transaction of $175,000.00. Following the completion of the acquisition, the insider directly owned 104,222 shares in the company, valued at $364,777. The trade was a 92.21% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Clint D. Coghill purchased 167,086 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was acquired at an average price of $3.88 per share, for a total transaction of $648,293.68. Following the acquisition, the director owned 3,438,853 shares in the company, valued at $13,342,749.64. This trade represents a 5.11% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 425,000 shares of company stock worth $1,603,845. Corporate insiders own 10.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hudson Bay Capital Management LP purchased a new position in Amplify Energy in the 2nd quarter valued at $38,000. Tower Research Capital LLC TRC lifted its holdings in Amplify Energy by 371.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 22,262 shares of the company’s stock valued at $71,000 after purchasing an additional 17,541 shares in the last quarter. Militia Capital Partners LP purchased a new position in Amplify Energy in the 2nd quarter valued at $57,000. Brevan Howard Capital Management LP purchased a new position in Amplify Energy in the 2nd quarter valued at $242,000. Finally, Ameriprise Financial Inc. lifted its holdings in Amplify Energy by 716.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 234,305 shares of the company’s stock valued at $750,000 after purchasing an additional 205,606 shares in the last quarter. Hedge funds and other institutional investors own 42.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Benchmark reiterated a “buy” rating on shares of Amplify Energy in a report on Thursday, July 3rd. Wall Street Zen cut shares of Amplify Energy from a “hold” rating to a “sell” rating in a research note on Friday, June 6th. Finally, Alliance Global Partners began coverage on shares of Amplify Energy in a research note on Monday, June 30th. They set a “buy” rating and a $6.00 price objective on the stock. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $8.50.

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.