Amplify Energy Corp. (NYSE:AMPY) Sees Large Drop in Short Interest

Amplify Energy Corp. (NYSE:AMPY) was the recipient of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 896,100 shares, a decrease of 9.1% from the October 31st total of 985,700 shares. Based on an average daily volume of 283,200 shares, the short-interest ratio is presently 3.2 days. Currently, 2.5% of the company’s stock are sold short.

Amplify Energy Stock Up 0.9 %

Shares of AMPY stock traded up $0.06 during mid-day trading on Tuesday, hitting $6.68. 185,414 shares of the stock traded hands, compared to its average volume of 457,304. The stock has a market cap of $265.66 million, a P/E ratio of 4.34 and a beta of 1.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.06 and a quick ratio of 1.06. The stock’s fifty day moving average is $6.71 and its two-hundred day moving average is $6.70. Amplify Energy has a 52-week low of $3.56 and a 52-week high of $8.15.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Amplify Energy by 7.1% in the 1st quarter. Vanguard Group Inc. now owns 2,423,704 shares of the company’s stock valued at $16,021,000 after purchasing an additional 159,699 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Amplify Energy by 12.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,225,071 shares of the company’s stock worth $15,086,000 after acquiring an additional 251,898 shares during the period. Geode Capital Management LLC lifted its stake in shares of Amplify Energy by 3.5% in the third quarter. Geode Capital Management LLC now owns 883,676 shares of the company’s stock valued at $5,772,000 after purchasing an additional 29,988 shares during the period. State Street Corp lifted its stake in shares of Amplify Energy by 2.1% in the third quarter. State Street Corp now owns 805,211 shares of the company’s stock valued at $5,258,000 after purchasing an additional 16,885 shares during the period. Finally, Foundry Partners LLC lifted its stake in shares of Amplify Energy by 1.0% in the third quarter. Foundry Partners LLC now owns 570,770 shares of the company’s stock valued at $3,727,000 after purchasing an additional 5,410 shares during the period. Hedge funds and other institutional investors own 42.84% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AMPY. Alliance Global Partners increased their target price on shares of Amplify Energy from $9.00 to $9.50 and gave the company a “buy” rating in a research report on Friday, August 9th. Benchmark restated a “buy” rating and issued a $11.00 price objective on shares of Amplify Energy in a research report on Wednesday, October 16th.

About Amplify Energy

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.