The Vanguard Group, Inc. recently announced the acquisition of new stake in Amplify Energy Corp. (NYSE:AMPY). The institutional investor has increased its shareholding in the Energy company by 0.74% to 2.36 million shares with purchase of 17452.0 shares. This fresh investment now brings its stake to 6.14% valued currently at $19.79 million. In addition, BlackRock Fund Advisors raised its holdings by 18238.0 to 1.98 million shares. And Acadian Asset Management LLC has lifted its position by 1.61% or 15437.0 shares – to 0.97 million shares.
With over 3.28 million Amplify Energy Corp. (AMPY) shares trading Friday and a closing price of $8.03 on the day, the dollar volume was approximately $26.34 million. The shares have shown a positive half year performance of 12.31% and its price on 03/10/23 lost nearly -17.30%. Currently, there are 38.45M common shares owned by the public and among those 38.06M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for AMPY have a consensus price objective of $12.00. The analysts have set the share’s price value over the next 12 months at a high of $12.00 and a low of $12.00. The average price target is 33.08% above its recent price level and an upside to the estimated low will see the stock gain 33.08% over that period. But an upside of 33.08% will see the stock hit the forecast high price target while median target price for the stock is $12.00.
Insiders at the company have transacted a total of 43 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 25 of these insider trades were purchases, accounting for 390,870 shares. Insider sales of the common stock occurred on 18 occasions, with total insider shares sold totaling 81,210 shares.
The top 3 mutual fund holders in Amplify Energy Corp. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market Index owns 1.04 million shares of the company’s stock, all valued at over $8.75 million. iShares Russell 2000 ETF sold 2484.0 shares to see its total holdings shrink to 0.79 million shares valued at over $6.6 million and representing 2.05% of the shares outstanding. Vanguard Extended Market Index Fu now owns shares totaling to 1.24% of the shares outstanding.
Shares of Amplify Energy Corp. (NYSE: AMPY) opened at $9.79, up $0.08 from a prior closing price of $9.71. However, the script later moved the day high at 9.79, down -17.30%. The company’s stock has a 5-day price change of -20.73% and 10.45% over the past three months. AMPY shares are trading -8.65% year to date (YTD), with the 12-month market performance up to 48.98% higher. It has a 12-month low price of $4.97 and touched a high of $10.38 over the same period. AMPY has an average intraday trading volume of 475.85K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -9.63%, -7.79%, and 0.83% respectively.
Institutional ownership of Amplify Energy Corp. (NYSE: AMPY) shares accounts for 44.90% of the company’s 38.45M shares outstanding. Mutual fund holders own 26.93%, while other institutional holders and individual stakeholders account for 35.23% and 16.60% respectively.
It has a market capitalization of $373.31M and a beta (3y monthly) value of 2.44. The stock’s trailing 12-month PE ratio is 4.93, while the earnings-per-share (ttm) stands at $1.63. The company has a PEG of 0.33 and a Quick Ratio of 0.70. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.12% over the week and 5.92% over the month.
Analysts forecast that Amplify Energy Corp. (AMPY) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0.56 for 2022. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was -$0.97 a year ago. EPS should grow at an annualized rate of 15.00% over the next five years, compared to -27.64% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Amplify Energy Corp. (AMPY) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the AMPY, a number of firms have released research notes about the stock. ROTH Capital stated their Buy rating for the stock in a research note on October 28, 2022, with the firm’s price target at $12. ROTH Capital was of a view on November 22, 2019 that the stock is Buy, while Northland Capital gave the stock Outperform rating on November 14, 2019, issuing a price target of $10.
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