Brokerages Set Alta Mesa Resources Inc (AMR) Price Target at $8.17

Shares of Alta Mesa Resources Inc (NASDAQ:AMR) have been assigned a consensus rating of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $8.17.

Several research firms have recently commented on AMR. Zacks Investment Research downgraded shares of Alta Mesa Resources from a “hold” rating to a “sell” rating in a research note on Monday, April 8th. Guggenheim downgraded shares of Alta Mesa Resources from a “buy” rating to a “sell” rating in a research note on Tuesday, February 26th. Finally, ValuEngine upgraded shares of Alta Mesa Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd.

NASDAQ AMR traded down $0.02 on Friday, hitting $0.25. The stock had a trading volume of 2,023,022 shares, compared to its average volume of 1,750,177. Alta Mesa Resources has a 52-week low of $0.20 and a 52-week high of $7.92. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.20.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Teachers Advisors LLC lifted its position in Alta Mesa Resources by 8.8% during the third quarter. Teachers Advisors LLC now owns 198,580 shares of the company’s stock valued at $830,000 after purchasing an additional 16,081 shares during the period. Baker Avenue Asset Management LP lifted its position in Alta Mesa Resources by 10.4% during the third quarter. Baker Avenue Asset Management LP now owns 221,253 shares of the company’s stock valued at $925,000 after purchasing an additional 20,835 shares during the period. Alliancebernstein L.P. lifted its position in Alta Mesa Resources by 50.2% during the third quarter. Alliancebernstein L.P. now owns 67,300 shares of the company’s stock valued at $281,000 after purchasing an additional 22,500 shares during the period. Citigroup Inc. lifted its position in Alta Mesa Resources by 1,359.7% during the fourth quarter. Citigroup Inc. now owns 27,501 shares of the company’s stock valued at $27,000 after purchasing an additional 25,617 shares during the period. Finally, Virtu Financial LLC acquired a new position in Alta Mesa Resources during the fourth quarter valued at $32,000. Institutional investors own 76.76% of the company’s stock.

About Alta Mesa Resources

Alta Mesa Resources, Inc focuses on the acquisition and development of unconventional oil and natural gas reserves in the Anadarko Basin. It also offers midstream energy services, including crude oil and gas gathering, processing, and marketing to producers of natural gas, natural gas liquids, crude oil, and condensate in the STACK Play region of Oklahoma.

Read More: Total Return

Receive News & Ratings for Alta Mesa Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alta Mesa Resources and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit