Amplify Energy Corp. (NYSE:AMPY) Forecasted to Earn Q2 2024 Earnings of $0.31 Per Share

Amplify Energy Corp. (NYSE:AMPY) – Stock analysts at Roth Capital decreased their Q2 2024 EPS estimates for shares of Amplify Energy in a research report issued to clients and investors on Wednesday, July 31st. Roth Capital analyst J. White now expects that the company will post earnings per share of $0.31 for the quarter, down from their previous forecast of $0.34. The consensus estimate for Amplify Energy’s current full-year earnings is $1.28 per share. Roth Capital also issued estimates for Amplify Energy’s Q3 2024 earnings at $0.38 EPS, Q4 2024 earnings at $0.35 EPS and FY2024 earnings at $1.28 EPS.

Amplify Energy (NYSE:AMPY) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.47). Amplify Energy had a net margin of 10.06% and a return on equity of 8.29%. The firm had revenue of $76.30 million during the quarter, compared to the consensus estimate of $76.36 million. During the same period in the previous year, the business earned ($0.06) earnings per share.

Several other brokerages also recently commented on AMPY. Roth Mkm reissued a “buy” rating and issued a $9.50 price target on shares of Amplify Energy in a report on Friday, April 12th. Benchmark started coverage on shares of Amplify Energy in a research report on Thursday, May 2nd. They set a “buy” rating and a $11.00 price objective on the stock.

Amplify Energy Stock Down 7.2 %

Shares of NYSE:AMPY opened at $6.67 on Friday. The firm has a fifty day moving average price of $6.68 and a two-hundred day moving average price of $6.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.79 and a quick ratio of 0.79. Amplify Energy has a one year low of $3.56 and a one year high of $8.21. The company has a market cap of $264.21 million, a price-to-earnings ratio of 9.14 and a beta of 1.90.

Institutional Trading of Amplify Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Innealta Capital LLC purchased a new stake in shares of Amplify Energy during the 2nd quarter valued at $26,000. Fortitude Family Office LLC raised its position in Amplify Energy by 167.5% in the 2nd quarter. Fortitude Family Office LLC now owns 4,028 shares of the company’s stock worth $27,000 after purchasing an additional 2,522 shares during the period. nVerses Capital LLC purchased a new position in Amplify Energy in the 2nd quarter worth $52,000. Tower Research Capital LLC TRC increased its position in shares of Amplify Energy by 154.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,481 shares of the company’s stock valued at $50,000 after acquiring an additional 5,145 shares during the period. Finally, Price T Rowe Associates Inc. MD purchased a new position in shares of Amplify Energy in the first quarter valued at about $67,000. Hedge funds and other institutional investors own 42.84% of the company’s stock.

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.