Roth Capital Comments on Amplify Energy Corp.’s FY2024 Earnings (NYSE:AMPY)

Amplify Energy Corp. (NYSE:AMPY) – Roth Capital decreased their FY2024 earnings per share estimates for Amplify Energy in a report released on Friday, April 12th. Roth Capital analyst J. White now expects that the company will post earnings of $1.15 per share for the year, down from their prior estimate of $1.30. The consensus estimate for Amplify Energy’s current full-year earnings is $1.15 per share.

Amplify Energy (NYSE:AMPY) last posted its earnings results on Wednesday, March 6th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.86. Amplify Energy had a return on equity of 10.50% and a net margin of 122.36%. The business had revenue of $78.99 million during the quarter, compared to analyst estimates of $73.33 million.

Several other research firms have also issued reports on AMPY. Alliance Global Partners began coverage on Amplify Energy in a report on Monday, January 22nd. They set a “buy” rating and a $9.00 price target for the company. Roth Mkm reissued a “buy” rating and set a $9.50 price target on shares of Amplify Energy in a report on Friday.

Amplify Energy Stock Performance

Shares of AMPY opened at $7.04 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.02 and a quick ratio of 1.02. Amplify Energy has a one year low of $3.56 and a one year high of $8.21. The firm has a market capitalization of $278.85 million, a P/E ratio of 0.73 and a beta of 2.10. The business has a fifty day moving average of $6.31 and a 200 day moving average of $6.32.

Hedge Funds Weigh In On Amplify Energy

Several large investors have recently made changes to their positions in AMPY. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Amplify Energy by 11.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,438 shares of the company’s stock valued at $121,000 after buying an additional 1,644 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Amplify Energy by 12.1% in the second quarter. The Manufacturers Life Insurance Company now owns 15,501 shares of the company’s stock worth $105,000 after purchasing an additional 1,678 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Amplify Energy by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 92,680 shares of the company’s stock worth $815,000 after purchasing an additional 1,725 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Amplify Energy by 4.7% in the fourth quarter. Nuveen Asset Management LLC now owns 73,428 shares of the company’s stock worth $435,000 after purchasing an additional 3,306 shares in the last quarter. Finally, UBS Group AG grew its stake in Amplify Energy by 98.7% in the fourth quarter. UBS Group AG now owns 7,240 shares of the company’s stock worth $64,000 after purchasing an additional 3,596 shares in the last quarter. 42.84% of the stock is currently owned by hedge funds and other institutional investors.

Amplify Energy Company Profile

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.