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James Frew, Senior Vice President and Chief Financial Officer of Amplify Energy Corp. (NYSE:AMPY), recently acquired 15,000 shares of the company’s common stock. The shares were purchased on March 7 at a price of $3.85 each, totaling $57,750, with the stock trading near its 52-week low of $3.54. InvestingPro analysis shows the stock is currently oversold, while analyst price targets range from $8.50 to $11.00, suggesting significant upside potential. Following this transaction, Frew’s direct ownership of Amplify Energy stands at 54,222 shares in the $153 million market cap company.Want deeper insights into insider trading patterns and 12+ more exclusive ProTips? Discover comprehensive analysis with InvestingPro’s detailed research reports, available for 1,400+ US stocks.
In other recent news, Amplify Energy reported a challenging fourth quarter in 2024, with an earnings per share (EPS) of -$0.19, significantly missing the forecasted $0.30. The company’s revenue also fell short, reaching $69.02 million against an expected $78.46 million. Amplify Energy’s net loss for the quarter was $7.4 million, contrasting with a net income of $22.7 million in the previous quarter. Despite the quarterly setback, the company achieved a full-year net income of $13 million, with a 48% increase in adjusted net income to $35.8 million. Amplify Energy is planning a strategic expansion through a merger with Juniper Capital, expected to close in the second quarter of 2025, which will extend its operations into the Rocky Mountain basins. The company has also set a capital investment budget of $70-80 million for 2025, with significant investments in its Beta field. Analysts from firms like Alliance Global Partners (NYSE:GLP) and Benchmark have shown interest in the company’s developments, particularly the performance of its wells and the implications of the merger. Amplify Energy’s CEO expressed optimism about these strategic initiatives and the long-term value potential of the Beta field.
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