Wall Street analysts predict that Alta Mesa Resources Inc (NASDAQ:AMR) will announce sales of $123.52 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Alta Mesa Resources’ earnings. The lowest sales estimate is $107.00 million and the highest is $140.04 million. The business is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Alta Mesa Resources will report full year sales of $452.19 million for the current financial year, with estimates ranging from $405.00 million to $499.39 million. For the next fiscal year, analysts expect that the firm will report sales of $408.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Alta Mesa Resources.

A number of research firms have recently weighed in on AMR. ValuEngine upgraded Alta Mesa Resources from a “strong sell” rating to a “sell” rating in a report on Tuesday, March 5th. Guggenheim lowered Alta Mesa Resources from a “buy” rating to a “sell” rating in a report on Tuesday, February 26th. Imperial Capital set a $6.00 target price on Alta Mesa Resources and gave the company a “hold” rating in a report on Wednesday, January 2nd. Finally, Zacks Investment Research lowered Alta Mesa Resources from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Alta Mesa Resources has an average rating of “Hold” and an average target price of $8.14.

NASDAQ:AMR traded up $0.05 on Tuesday, hitting $0.23. The stock had a trading volume of 18,725,360 shares, compared to its average volume of 2,767,523. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.20. Alta Mesa Resources has a 52 week low of $0.17 and a 52 week high of $7.87.

A number of large investors have recently added to or reduced their stakes in the business. Citigroup Inc. grew its position in shares of Alta Mesa Resources by 1,359.7% in the fourth quarter. Citigroup Inc. now owns 27,501 shares of the company’s stock valued at $27,000 after purchasing an additional 25,617 shares in the last quarter. Virtu Financial LLC bought a new stake in Alta Mesa Resources during the fourth quarter valued at $32,000. Raymond James Financial Services Advisors Inc. bought a new stake in Alta Mesa Resources during the fourth quarter valued at $38,000. RBF Capital LLC bought a new stake in Alta Mesa Resources during the fourth quarter valued at $44,000. Finally, HRT Financial LLC bought a new stake in Alta Mesa Resources during the fourth quarter valued at $45,000. 76.76% of the stock is owned by institutional investors and hedge funds.

Alta Mesa Resources Company Profile

Alta Mesa Resources, Inc focuses on the acquisition and development of unconventional oil and natural gas reserves in the Anadarko Basin. It also offers midstream energy services, including crude oil and gas gathering, processing, and marketing to producers of natural gas, natural gas liquids, crude oil, and condensate in the STACK Play region of Oklahoma.

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