Shares of Alta Mesa Resources Inc (NASDAQ:AMR) have been assigned a consensus rating of “Hold” from the six brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $8.17.
A number of brokerages have recently issued reports on AMR. ValuEngine cut Alta Mesa Resources from a “sell” rating to a “strong sell” rating in a report on Monday, June 3rd. Zacks Investment Research cut Alta Mesa Resources from a “buy” rating to a “hold” rating in a report on Friday, May 31st.
Shares of AMR traded down $0.01 during mid-day trading on Thursday, reaching $0.16. The company had a trading volume of 203,839 shares, compared to its average volume of 7,776,191. Alta Mesa Resources has a twelve month low of $0.11 and a twelve month high of $7.39. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.20. The stock’s 50-day moving average price is $0.17.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. boosted its position in Alta Mesa Resources by 1,359.7% in the 4th quarter. Citigroup Inc. now owns 27,501 shares of the company’s stock valued at $27,000 after buying an additional 25,617 shares during the last quarter. Geode Capital Management LLC boosted its position in Alta Mesa Resources by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 1,239,611 shares of the company’s stock valued at $1,239,000 after buying an additional 33,442 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in Alta Mesa Resources in the 4th quarter valued at $38,000. RBF Capital LLC bought a new position in Alta Mesa Resources in the 4th quarter valued at $44,000. Finally, Rhumbline Advisers boosted its position in Alta Mesa Resources by 42.0% in the 4th quarter. Rhumbline Advisers now owns 147,380 shares of the company’s stock valued at $147,000 after buying an additional 43,557 shares during the last quarter. Institutional investors and hedge funds own 49.12% of the company’s stock.
Alta Mesa Resources Company Profile
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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