Alta Mesa Resources Inc (NASDAQ:AMR) traded down 4% on Monday . The company traded as low as $0.24 and last traded at $0.24. 12,060 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 1,750,177 shares. The stock had previously closed at $0.25.
Several research analysts have weighed in on the company. Zacks Investment Research cut Alta Mesa Resources from a “hold” rating to a “sell” rating in a research report on Monday, April 8th. Guggenheim cut Alta Mesa Resources from a “buy” rating to a “sell” rating in a research report on Tuesday, February 26th. Finally, ValuEngine upgraded Alta Mesa Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $8.14.
The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.20.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. HPS Investment Partners LLC bought a new position in shares of Alta Mesa Resources during the fourth quarter worth about $32,346,000. Vanguard Group Inc raised its position in Alta Mesa Resources by 8.2% during the 3rd quarter. Vanguard Group Inc now owns 7,740,266 shares of the company’s stock valued at $32,354,000 after purchasing an additional 584,171 shares during the last quarter. Vanguard Group Inc. raised its position in Alta Mesa Resources by 8.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,740,266 shares of the company’s stock valued at $32,354,000 after purchasing an additional 584,171 shares during the last quarter. BlackRock Inc. raised its position in Alta Mesa Resources by 5.0% during the 3rd quarter. BlackRock Inc. now owns 7,220,795 shares of the company’s stock valued at $30,184,000 after purchasing an additional 341,094 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in Alta Mesa Resources by 2.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 4,905,999 shares of the company’s stock valued at $20,507,000 after purchasing an additional 101,895 shares during the last quarter. 76.76% of the stock is currently owned by institutional investors.
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About Alta Mesa Resources (NASDAQ:AMR)
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.
See Also: Strangles
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