Drive Wealth Management LLC Takes $285,000 Position in Amplify Energy Corp. (NYSE:AMPY)

Drive Wealth Management LLC bought a new position in Amplify Energy Corp. (NYSE:AMPY) during the third quarter, HoldingsChannel reports. The fund bought 43,665 shares of the company’s stock, valued at approximately $285,000.

Several other institutional investors and hedge funds also recently bought and sold shares of AMPY. Innealta Capital LLC bought a new stake in shares of Amplify Energy during the second quarter valued at approximately $26,000. Fortitude Family Office LLC increased its stake 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 buying an additional 2,522 shares during the period. Quest Partners LLC bought a new position in Amplify Energy in the 3rd quarter worth about $45,000. nVerses Capital LLC purchased a new position in shares of Amplify Energy during the second quarter worth approximately $52,000. Finally, Price T Rowe Associates Inc. MD bought a new stake in shares of Amplify Energy during the first quarter valued at approximately $67,000. 42.84% of the stock is currently owned by hedge funds and other institutional investors.

Amplify Energy Price Performance

Shares of NYSE AMPY opened at $6.61 on Tuesday. Amplify Energy Corp. has a 12-month low of $3.56 and a 12-month high of $8.15. The stock’s fifty day simple moving average is $6.68 and its two-hundred day simple moving average is $6.70. The stock has a market capitalization of $262.68 million, a PE ratio of 4.29 and a beta of 1.93. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.29.

Analyst Ratings Changes

A number of research firms have recently issued reports on AMPY. Benchmark reissued a “buy” rating and set a $11.00 price target on shares of Amplify Energy in a research report on Wednesday, October 16th. Alliance Global Partners raised 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.

Amplify Energy 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.