Zacks Investment Research lowered shares of Alta Mesa Resources (NASDAQ:AMR) from a buy rating to a hold rating in a research note published on Friday morning, Zacks.com reports.

According to Zacks, “Alta Mesa Resources, Inc. is an exploration and production company which focused on the development and acquisition of unconventional oil and natural gas reserves primarily in the eastern portion of the Anadarko Basin. Alta Mesa Resources Inc., formerly known as SILVER RUN ACQ, is based in TX, United States. “

AMR has been the topic of a number of other reports. ValuEngine upgraded shares of Alta Mesa Resources from a strong sell rating to a sell rating in a research note on Tuesday, March 5th. Guggenheim downgraded shares of Alta Mesa Resources from a buy rating to a sell rating in a research note on Tuesday, February 26th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $6.69.

Shares of Alta Mesa Resources stock opened at $0.15 on Friday. Alta Mesa Resources has a 12-month low of $0.11 and a 12-month high of $7.48. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.59 and a quick ratio of 0.59.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Teachers Advisors LLC raised its holdings in Alta Mesa Resources by 8.8% in the 3rd quarter. Teachers Advisors LLC now owns 198,580 shares of the company’s stock valued at $830,000 after buying an additional 16,081 shares during the last quarter. Citigroup Inc. raised its holdings in Alta Mesa Resources by 1,359.7% in the 4th quarter. Citigroup Inc. now owns 27,501 shares of the company’s stock valued at $27,000 after buying an additional 25,617 shares during the last quarter. Virtu Financial LLC bought a new position in Alta Mesa Resources in the 4th quarter valued at approximately $32,000. Geode Capital Management LLC raised its holdings in Alta Mesa Resources by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 1,239,611 shares of the company’s stock valued at $1,239,000 after buying an additional 33,442 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Alta Mesa Resources in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 71.56% of the company’s stock.

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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