#6 - Amplify Energy (NYSE:AMPY)
Investors are watching the oil and gas sector closely in the second half of 2023. The Intenational Energy Administration is forecasting the average price for a barrel of crude to be around $86 for the rest of the year.
That’s the bullish case for Amplify Energy Corp. (NYSE: AMPY) that is engaged in the acquisition, development, exploitation and production of oil and natural gas properties in the United States.
Year-over-year revenue is down sharply since 2023. And in its last quarter, earnings turned negative. However, analysts are forecasting strong revenue growth of 265% in the next 12 months. That growth is not likely priced into AMPY stock at this time. Investors should note that the company is the subject of takeover rumors.
The Amplify analyst ratings on MarketBeat give the stock a $12 price target that marks a 69% increase from the stock’s current price.
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.
Read More - Current Price
- $5.71
- Consensus Rating
- Buy
- Ratings Breakdown
- 3 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $10.00 (75.1% Upside)
