Insider Selling: Amplify Energy (NYSE:AMPY) Director Sells $3,218,211.18 in Stock

Amplify Energy Corp. (NYSE:AMPY) Director Clint Coghill sold 501,279 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $6.42, for a total value of $3,218,211.18. Following the transaction, the director directly owned 2,746,836 shares in the company, valued at $17,634,687.12. The trade was a 15.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Amplify Energy Trading Up 0.4%

Shares of NYSE AMPY opened at $6.33 on Friday. Amplify Energy Corp. has a one year low of $2.27 and a one year high of $6.79. The business has a 50-day moving average price of $5.35 and a two-hundred day moving average price of $5.01. The firm has a market capitalization of $261.05 million, a PE ratio of 6.46 and a beta of -0.15.

Amplify Energy (NYSE:AMPY) last issued its earnings results on Monday, March 9th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.45). The business had revenue of $56.55 million during the quarter, compared to analyst estimates of $71.07 million. Amplify Energy had a net margin of 16.69% and a negative return on equity of 4.10%. Research analysts anticipate that Amplify Energy Corp. will post 1.25 EPS for the current year.

Analysts Set New Price Targets

AMPY has been the topic of several research reports. Wall Street Zen upgraded shares of Amplify Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Weiss Ratings upgraded shares of Amplify Energy from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, March 12th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Amplify Energy currently has a consensus rating of “Moderate Buy” and an average price target of $6.00.

Institutional Investors Weigh In On Amplify Energy

Several large investors have recently made changes to their positions in the company. Lakewood Asset Management LLC raised its position in Amplify Energy by 7.4% during the fourth quarter. Lakewood Asset Management LLC now owns 34,665 shares of the company’s stock valued at $158,000 after acquiring an additional 2,386 shares in the last quarter. First Trust Advisors LP grew its position in Amplify Energy by 2.5% in the fourth quarter. First Trust Advisors LP now owns 108,768 shares of the company’s stock worth $497,000 after acquiring an additional 2,663 shares in the last quarter. Farther Finance Advisors LLC grew its position in Amplify Energy by 256.0% in the third quarter. Farther Finance Advisors LLC now owns 5,240 shares of the company’s stock worth $28,000 after acquiring an additional 3,768 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Amplify Energy by 31.7% during the 2nd quarter. Franklin Resources Inc. now owns 28,798 shares of the company’s stock worth $92,000 after purchasing an additional 6,935 shares during the last quarter. Finally, XTX Topco Ltd increased its stake in shares of Amplify Energy by 45.6% during the 4th quarter. XTX Topco Ltd now owns 22,992 shares of the company’s stock worth $105,000 after purchasing an additional 7,201 shares during the last quarter. Institutional investors own 42.84% of the company’s stock.

About Amplify Energy

Amplify Energy Corp (NYSE: AMPY) is an independent upstream energy company focused on the exploration, development and production of crude oil and natural gas resources in the United States. The company’s operations emphasize both conventional and unconventional plays, combining onshore and offshore activities. Amplify Energy applies advanced reservoir management techniques and disciplined capital allocation to identify and develop reserves with attractive economics while managing commodity price exposure through targeted risk strategies.

The company’s asset portfolio is concentrated along the U.S.