Zacks Investment Research lowered shares of Alta Mesa Resources (NASDAQ:AMR) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Alta Mesa Resources, Inc. is an exploration and production company which focused on the development and acquisition of unconventional oil and natural gas reserves primarily in the eastern portion of the Anadarko Basin. Alta Mesa Resources Inc., formerly known as SILVER RUN ACQ, is based in TX, United States. “
Other equities research analysts also recently issued research reports about the company. Guggenheim downgraded Alta Mesa Resources from a buy rating to a sell rating in a report on Tuesday, February 26th. Goldman Sachs Group cut their price objective on Alta Mesa Resources to $6.50 in a report on Sunday, December 2nd. ValuEngine raised Alta Mesa Resources from a strong sell rating to a sell rating in a research note on Friday, January 25th. Finally, Imperial Capital set a $6.00 target price on Alta Mesa Resources and gave the stock a hold rating in a research note on Wednesday, January 2nd. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $8.14.
AMR stock opened at $0.30 on Wednesday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.20. Alta Mesa Resources has a 12-month low of $0.20 and a 12-month high of $8.62.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in shares of Alta Mesa Resources by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 1,239,611 shares of the company’s stock worth $1,239,000 after acquiring an additional 33,442 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Alta Mesa Resources by 50.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,441,186 shares of the company’s stock valued at $1,441,000 after purchasing an additional 484,530 shares during the last quarter. HRT Financial LLC purchased a new stake in shares of Alta Mesa Resources in the 4th quarter valued at about $45,000. Jane Street Group LLC purchased a new stake in shares of Alta Mesa Resources in the 4th quarter valued at about $59,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Alta Mesa Resources in the 4th quarter valued at about $108,000. 76.76% of the stock is owned by hedge funds and other institutional investors.
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.
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