Stock Traders Purchase High Volume of Amplify Energy Call Options (NYSE:AMPY)

Amplify Energy Corp. (NYSE:AMPY) experienced a significant surge in call options trading, with investors purchasing 8,271 call options, marking a 252% increase from the usual volume. The stock rose 11.9% to $5.12, with a market cap of $206.98 million. Analysts maintain a "Moderate Buy" consensus rating, with an average target price of $8.50. Insider trading activity included notable purchases by James Frew and Clint D. Coghill. Institutional investors have also increased their stakes in the company, with 42.84% of the stock owned by hedge funds and other institutions.

Amplify Energy Corp. (NYSE:AMPY - Get Free Report) was the recipient of some unusual options trading activity on Thursday. Investors purchased 8,271 call options on the stock. This represents an increase of 252% compared to the typical daily volume of 2,353 call options.

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Analysts Set New Price Targets

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

Check Out Our Latest Report on Amplify Energy

Amplify Energy Trading Up 11.9%

NYSE:AMPY traded up $0.55 on Thursday, hitting $5.12. The stock had a trading volume of 621,068 shares, compared to its average volume of 942,722. 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 stock has a market cap of $206.98 million, a price-to-earnings ratio of 14.62 and a beta of 0.44. The company has a fifty day moving average price of $4.54 and a two-hundred day moving average price of $3.74. Amplify Energy has a 1-year low of $2.27 and a 1-year high of $7.10.

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

Insider Activity

In other news, insider James Frew purchased 25,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were bought at an average cost 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Clint D. Coghill purchased 65,494 shares of the business's stock in a transaction that occurred on 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 directly owned 3,504,347 shares in the company, valued at $13,631,909.83. The trade was a 1.90% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 425,000 shares of company stock worth $1,603,845 over the last 90 days. Corporate insiders own 10.30% of the company's stock.

Institutional Investors Weigh In On Amplify Energy

Large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its holdings in shares of Amplify Energy by 256.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 5,240 shares of the company's stock valued at $28,000 after buying an additional 3,768 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Amplify Energy by 31.7% during the first quarter. MetLife Investment Management LLC now owns 21,035 shares of the company's stock worth $79,000 after buying an additional 5,063 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in shares of Amplify Energy by 5.0% in the second quarter. SummerHaven Investment Management LLC now owns 120,602 shares of the company's stock worth $386,000 after acquiring an additional 5,788 shares during the last quarter. First Trust Advisors LP lifted its position in Amplify Energy by 5.1% during the second quarter. First Trust Advisors LP now owns 121,102 shares of the company's stock valued at $388,000 after buying an additional 5,869 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in Amplify Energy by 31.7% during the second quarter. Franklin Resources Inc. now owns 28,798 shares of the company's stock valued at $92,000 after buying an additional 6,935 shares in the last quarter. 42.84% of the stock is owned by hedge funds and other institutional investors.

Amplify Energy Company Profile

(Get Free Report)

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.

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