Insider Selling: Amplify Energy (NYSE:AMPY) Director Sells $1,706,505.12 in Stock

Amplify Energy Corp. (NYSE:AMPY) Director Clint Coghill sold 256,232 shares of Amplify Energy stock in a transaction on Friday, March 13th. The stock was sold at an average price of $6.66, for a total value of $1,706,505.12. Following the completion of the sale, the director directly owned 3,248,115 shares of the company’s stock, valued at approximately $21,632,445.90. The trade was a 7.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Amplify Energy Price Performance

Shares of Amplify Energy stock traded down $0.10 during trading on Tuesday, hitting $6.18. 1,267,289 shares of the company’s stock traded hands, compared to its average volume of 841,537. Amplify Energy Corp. has a 1 year low of $2.27 and a 1 year high of $6.79. The business has a 50-day simple moving average of $5.25 and a 200-day simple moving average of $4.97. The stock has a market capitalization of $254.90 million, a P/E ratio of 6.30 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 analysts’ expectations of $71.07 million. Amplify Energy had a negative return on equity of 4.10% and a net margin of 16.69%. On average, equities analysts predict that Amplify Energy Corp. will post 1.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AMPY shares. Weiss Ratings upgraded Amplify Energy from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday. Wall Street Zen upgraded Amplify Energy from a “sell” rating to a “hold” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Amplify Energy currently has a consensus rating of “Moderate Buy” and an average price target of $6.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AMPY. Lakewood Asset Management LLC raised its stake in Amplify Energy by 7.4% during the 4th quarter. Lakewood Asset Management LLC now owns 34,665 shares of the company’s stock worth $158,000 after acquiring an additional 2,386 shares during the period. First Trust Advisors LP lifted its stake in shares of Amplify Energy by 2.5% during the 4th quarter. First Trust Advisors LP now owns 108,768 shares of the company’s stock valued at $497,000 after buying an additional 2,663 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Amplify Energy by 256.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 5,240 shares of the company’s stock worth $28,000 after buying an additional 3,768 shares during the period. Franklin Resources Inc. raised its holdings 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 acquiring an additional 6,935 shares during the period. Finally, XTX Topco Ltd lifted its position in shares of Amplify Energy by 45.6% in the fourth quarter. XTX Topco Ltd now owns 22,992 shares of the company’s stock valued at $105,000 after acquiring an additional 7,201 shares in the last quarter. 42.84% of the stock is currently owned by institutional investors.

Amplify Energy Company Profile

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.