ValuEngine downgraded shares of Alta Mesa Resources (NASDAQ:AMR) from a sell rating to a strong sell rating in a research report released on Thursday morning.
Other equities analysts have also issued reports about the company. Stifel Nicolaus reduced their price objective on Alta Mesa Resources from $13.00 to $12.00 and set a buy rating on the stock in a research report on Wednesday, August 22nd. Zacks Investment Research lowered Alta Mesa Resources from a buy rating to a sell rating in a research report on Friday, August 17th. Goldman Sachs Group reduced their price objective on Alta Mesa Resources to $6.50 in a research report on Sunday, December 2nd. Imperial Capital lowered Alta Mesa Resources from an outperform rating to an in-line rating and reduced their price objective for the company from $11.00 to $8.00 in a research report on Wednesday, August 15th. Finally, Guggenheim reiterated a buy rating and set a $8.70 price objective on shares of Alta Mesa Resources in a research report on Thursday, August 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $8.14.
Shares of Alta Mesa Resources stock opened at $1.25 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.59 and a current ratio of 0.59. Alta Mesa Resources has a 12 month low of $1.25 and a 12 month high of $10.79.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. grew its position in Alta Mesa Resources by 79.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 538,998 shares of the company’s stock worth $3,671,000 after acquiring an additional 239,218 shares during the last quarter. Voya Investment Management LLC purchased a new stake in Alta Mesa Resources in the 2nd quarter worth approximately $207,000. Strs Ohio purchased a new stake in Alta Mesa Resources in the 2nd quarter worth approximately $191,000. Wells Fargo & Company MN lifted its holdings in Alta Mesa Resources by 33.0% in the 2nd quarter. Wells Fargo & Company MN now owns 1,831,064 shares of the company’s stock worth $12,470,000 after buying an additional 454,439 shares during the period. Finally, California Public Employees Retirement System purchased a new stake in Alta Mesa Resources in the 2nd quarter worth approximately $119,000. Institutional investors and hedge funds own 50.11% 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.
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