Alta Mesa Resources (AMR) Reaches New 12-Month Low at $1.45

Alta Mesa Resources Inc (NASDAQ:AMR)’s share price hit a new 52-week low on Thursday . The company traded as low as $1.45 and last traded at $1.58, with a volume of 117477 shares traded. The stock had previously closed at $1.61.

A number of brokerages have recently weighed in on AMR. Imperial Capital cut shares of Alta Mesa Resources from an “outperform” rating to an “in-line” rating and reduced their price target for the stock from $11.00 to $8.00 in a research report on Wednesday, August 15th. ValuEngine raised shares of Alta Mesa Resources from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 14th. Zacks Investment Research raised shares of Alta Mesa Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, September 19th. Stifel Nicolaus reduced their price target on shares of Alta Mesa Resources from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, August 22nd. Finally, Guggenheim reissued a “buy” rating and set a $8.70 price target on shares of Alta Mesa Resources in a research report on Thursday, August 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $8.14.

The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.20.



Alta Mesa Resources (NASDAQ:AMR) last posted its quarterly earnings data on Tuesday, November 13th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $164.80 million for the quarter, compared to analyst estimates of $130.23 million. The company’s revenue was up 161.2% compared to the same quarter last year. On average, equities analysts expect that Alta Mesa Resources Inc will post 0.11 earnings per share for the current fiscal year.

Alta Mesa Resources announced that its board has approved a stock repurchase plan on Tuesday, August 14th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

In related news, Director Bayou City Energy Management L acquired 311,111 shares of the business’s stock in a transaction that occurred on Friday, September 7th. The shares were acquired at an average cost of $4.73 per share, with a total value of $1,471,555.03. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.21% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of AMR. Vanguard Group Inc. lifted its position in Alta Mesa Resources by 8.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,740,266 shares of the company’s stock worth $32,354,000 after buying an additional 584,171 shares in the last quarter. BlackRock Inc. lifted its position in Alta Mesa Resources by 5.0% during the 3rd quarter. BlackRock Inc. now owns 7,220,795 shares of the company’s stock worth $30,184,000 after buying an additional 341,094 shares in the last quarter. Point72 Asset Management L.P. lifted its position in Alta Mesa Resources by 2.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 4,905,999 shares of the company’s stock worth $20,507,000 after buying an additional 101,895 shares in the last quarter. SCP Investment LP bought a new stake in Alta Mesa Resources during the 3rd quarter worth about $8,608,000. Finally, Wells Fargo & Company MN lifted its position in Alta Mesa Resources by 8.3% during the 3rd quarter. Wells Fargo & Company MN now owns 1,982,215 shares of the company’s stock worth $8,286,000 after buying an additional 151,151 shares in the last quarter. 50.11% of the stock is currently owned by institutional investors and hedge funds.

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About Alta Mesa Resources (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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