Amplify Energy Corp. (NYSE:AMPY) Sees Significant Decline in Short Interest

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

Institutional Investors Weigh In On Amplify Energy

Several hedge funds have recently bought and sold shares of AMPY. Vanguard Group Inc. lifted its stake in shares of Amplify Energy by 7.1% in the first quarter. Vanguard Group Inc. now owns 2,423,704 shares of the company’s stock worth $16,021,000 after buying an additional 159,699 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of Amplify Energy in the first quarter worth approximately $67,000. Simplicity Wealth LLC bought a new position in Amplify Energy during the second quarter valued at approximately $78,000. Fortitude Family Office LLC lifted its position in Amplify Energy by 167.5% during the second quarter. Fortitude Family Office LLC now owns 4,028 shares of the company’s stock valued at $27,000 after purchasing an additional 2,522 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Amplify Energy by 11.0% during the second quarter. Bank of New York Mellon Corp now owns 446,939 shares of the company’s stock valued at $3,030,000 after purchasing an additional 44,431 shares during the period. Institutional investors own 42.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMPY. Benchmark reiterated 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 boosted their price target 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 Price Performance

Shares of NYSE AMPY opened at $6.68 on Wednesday. Amplify Energy has a 1 year low of $3.56 and a 1 year high of $8.15. 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 company’s 50-day moving average is $6.71 and its 200 day moving average is $6.71. The stock has a market capitalization of $265.66 million, a P/E ratio of 4.34 and a beta of 1.95.

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.