Rangeley Capital LLC Takes $8.15 Million Position in Amplify Energy Corp. (NYSE:AMPY)

Rangeley Capital LLC purchased a new position in shares of Amplify Energy Corp. (NYSE:AMPY - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,359,000 shares of the company's stock, valued at approximately $8,154,000. Amplify Energy accounts for approximately 7.3% of Rangeley Capital LLC's portfolio, making the stock its 2nd biggest holding. Rangeley Capital LLC owned approximately 3.42% of Amplify Energy as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sanctuary Advisors LLC grew its position in shares of Amplify Energy by 4.2% during the 4th quarter. Sanctuary Advisors LLC now owns 69,225 shares of the company's stock valued at $415,000 after acquiring an additional 2,765 shares during the period. Rhumbline Advisers grew its holdings in Amplify Energy by 3.6% during the fourth quarter. Rhumbline Advisers now owns 102,030 shares of the company's stock valued at $612,000 after purchasing an additional 3,580 shares during the period. Brandywine Global Investment Management LLC increased its position in Amplify Energy by 17.0% in the fourth quarter. Brandywine Global Investment Management LLC now owns 26,870 shares of the company's stock worth $161,000 after buying an additional 3,900 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Amplify Energy by 9.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 50,414 shares of the company's stock valued at $302,000 after buying an additional 4,196 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Amplify Energy by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 113,377 shares of the company's stock valued at $740,000 after buying an additional 4,454 shares during the last quarter. Hedge funds and other institutional investors own 42.84% of the company's stock.

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Insider Activity at Amplify Energy

In related news, insider James Frew acquired 15,000 shares of the stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $3.85 per share, for a total transaction of $57,750.00. Following the transaction, the insider now owns 54,222 shares in the company, valued at $208,754.70. This represents a 38.24 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Todd R. Snyder acquired 25,000 shares of the company's stock in a transaction dated Friday, March 7th. The shares were bought at an average cost of $3.83 per share, with a total value of $95,750.00. Following the completion of the acquisition, the director now directly owns 108,416 shares in the company, valued at $415,233.28. The trade was a 29.97 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 50,000 shares of company stock valued at $194,900. Company insiders own 1.96% of the company's stock.

Amplify Energy Price Performance

AMPY stock traded down $0.36 during mid-day trading on Friday, reaching $2.91. 837,418 shares of the company traded hands, compared to its average volume of 400,150. Amplify Energy Corp. has a 52-week low of $2.76 and a 52-week high of $8.15. The company has a market capitalization of $117.17 million, a P/E ratio of 1.89 and a beta of 1.33. 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 has a fifty day moving average price of $4.55 and a 200-day moving average price of $5.78.

Amplify Energy (NYSE:AMPY - Get Free Report) last posted its earnings results on Wednesday, March 5th. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.17). Amplify Energy had a return on equity of 16.22% and a net margin of 20.99%. The firm had revenue of $69.02 million for the quarter, compared to the consensus estimate of $76.04 million. As a group, analysts anticipate that Amplify Energy Corp. will post 1.25 earnings per share for the current year.

Wall Street Analyst Weigh In

AMPY has been the subject of several recent research reports. Benchmark reissued a "buy" rating and issued a $11.00 price objective on shares of Amplify Energy in a report on Thursday, January 16th. Alliance Global Partners reissued a "buy" rating on shares of Amplify Energy in a research report on Friday, March 7th. Finally, Industrial Alliance Securities set a $8.50 price objective on shares of Amplify Energy in a report on Friday, March 7th.

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.