Nucor earnings beat by $0.08, revenue fell short of estimates
In a recent series of transactions, Clint Coghill, a director at Amplify Energy Corp. (NYSE:AMPY), acquired a substantial amount of the company’s common stock. The transactions, which took place over three consecutive days in early June, involved the purchase of a total of 304,000 shares, amounting to approximately $997,190. The insider buying comes as the stock trades at just 0.33 times book value, with analysts setting price targets between $9.50 and $11.00, according to InvestingPro data.
On June 4, Coghill purchased 181,000 shares at a weighted average price of $3.27 per share, with prices ranging between $3.20 and $3.30. The following day, he acquired an additional 92,000 shares at a weighted average price of $3.26, with the price range spanning from $3.195 to $3.32. On June 6, he bought another 31,000 shares, this time at a weighted average price of $3.40, with prices ranging from $3.35 to $3.44. While the stock has gained over 13% in the past week, it remains down nearly 49% over the past six months.
These transactions have increased Coghill’s total holdings to 3,004,347 shares, representing a significant stake in the company, which currently has a market capitalization of $131.3 million and trades at a P/E ratio of 8.21. The purchases were made through Stoney Lonesome HF LP, an entity where Coghill holds a controlling interest, though he disclaims beneficial ownership except for his pecuniary interest.
In other recent news, Amplify Energy Corp reported an impressive earnings per share (EPS) of $3.8 for Q1 2025, far exceeding the forecasted $0.21. Despite a net loss of $5.9 million, this represents an improvement from the previous quarter’s $7.4 million loss. The company’s revenue was $72 million, slightly below the expected $72.55 million. Amplify Energy also noted a decrease in Adjusted EBITDA, which was $19.4 million, down by $2.4 million from the prior quarter. The company has reduced its capital program due to uncertainties in oil prices, yet remains confident in its diversified asset portfolio.
Amplify Energy has recently monetized portions of its Haynesville acreage, generating $9.2 million in total proceeds from three transactions since November 2024. The company plans to focus on cost reduction and free cash flow improvement, with a cautious yet optimistic outlook for 2025. In terms of production, Amplify Energy reported a daily average of 17,900 barrels of oil equivalent (BOE) per day, with improvements expected in subsequent quarters. The company has also been actively managing its hedge book to protect future cash flows, adding crude oil and natural gas swaps for 2026 and 2027.
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