Alta Mesa Resources (NASDAQ:AMR) Shares Gap Up to $0.17

Alta Mesa Resources Inc (NASDAQ:AMR)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $0.17, but opened at $0.17. Alta Mesa Resources shares last traded at $0.17, with a volume of 45,672 shares trading hands.

AMR has been the subject of a number of recent research reports. ValuEngine cut shares of Intersect ENT from a “buy” rating to a “hold” rating in a research report on Monday, June 3rd. Zacks Investment Research raised shares of GCP Applied Technologies from a “sell” rating to a “hold” rating in a research report on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $6.69.

The stock’s 50 day moving average price is $0.16.

A number of hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in Alta Mesa Resources by 50.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,441,186 shares of the company’s stock worth $1,441,000 after acquiring an additional 484,530 shares in the last quarter. Two Sigma Advisers LP raised its stake in Alta Mesa Resources by 984.3% during the fourth quarter. Two Sigma Advisers LP now owns 117,100 shares of the company’s stock worth $117,000 after acquiring an additional 106,300 shares in the last quarter. Jane Street Group LLC acquired a new position in Alta Mesa Resources during the fourth quarter worth about $59,000. HPS Investment Partners LLC acquired a new position in Alta Mesa Resources during the fourth quarter worth about $32,346,000. Finally, Avalon Advisors LLC raised its stake in Alta Mesa Resources by 63.7% during the fourth quarter. Avalon Advisors LLC now owns 128,500 shares of the company’s stock worth $128,000 after acquiring an additional 50,000 shares in the last quarter. 49.12% of the stock is owned by institutional investors and hedge funds.

Alta Mesa Resources Company Profile (NASDAQ:AMR)

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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