Cornercap Investment Counsel Inc. Purchases New Position in Amplify Energy Corp. (NYSE:AMPY)

Cornercap Investment Counsel Inc. purchased a new position in shares of Amplify Energy Corp. (NYSE:AMPY) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 72,995 shares of the company’s stock, valued at approximately $495,000.

Other institutional investors have also added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in Amplify Energy during the 2nd quarter worth $26,000. Fortitude Family Office LLC increased its position in shares of Amplify Energy by 167.5% in the second quarter. Fortitude Family Office LLC now owns 4,028 shares of the company’s stock worth $27,000 after purchasing an additional 2,522 shares during the period. nVerses Capital LLC acquired a new position in Amplify Energy in the second quarter valued at about $52,000. Price T Rowe Associates Inc. MD bought a new stake in Amplify Energy during the first quarter worth about $67,000. Finally, Diversified Trust Co acquired a new stake in Amplify Energy during the first quarter worth about $73,000. 42.84% of the stock is currently owned by institutional investors.

Amplify Energy Price Performance

Shares of AMPY stock opened at $6.35 on Friday. Amplify Energy Corp. has a twelve month low of $3.56 and a twelve month high of $8.15. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $7.03 and a 200 day simple moving average of $6.67. The company has a market cap of $251.54 million, a P/E ratio of 8.70 and a beta of 1.95.

Amplify Energy (NYSE:AMPY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). The company had revenue of $79.50 million during the quarter, compared to analyst estimates of $79.62 million. Amplify Energy had a net margin of 8.95% and a return on equity of 7.40%. During the same quarter in the previous year, the business posted $0.24 earnings per share. On average, sell-side analysts forecast that Amplify Energy Corp. will post 1.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners upped their price target on shares of Amplify Energy from $9.00 to $9.50 and gave the stock a “buy” rating in a report on Friday, August 9th.

Amplify Energy 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.