Wall Street brokerages expect that Alta Mesa Resources Inc (NASDAQ:AMR) will post $143.48 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Alta Mesa Resources’ earnings. The highest sales estimate is $159.95 million and the lowest is $127.00 million. The company is expected to announce its next earnings results on Monday, November 12th.
On average, analysts expect that Alta Mesa Resources will report full year sales of $547.17 million for the current financial year, with estimates ranging from $511.00 million to $583.34 million. For the next year, analysts anticipate that the business will report sales of $979.69 million, with estimates ranging from $890.00 million to $1.07 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Alta Mesa Resources.
Alta Mesa Resources (NASDAQ:AMR) last announced its quarterly earnings data on Tuesday, August 14th. The company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.14). The company had revenue of $93.14 million for the quarter, compared to analysts’ expectations of $131.93 million. The firm’s revenue was up 16.7% on a year-over-year basis.
Several equities analysts have weighed in on AMR shares. Zacks Investment Research downgraded shares of Alta Mesa Resources from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Imperial Capital downgraded shares of Alta Mesa Resources from an “outperform” rating to an “in-line” rating and dropped their target price for the company from $11.00 to $8.00 in a report on Wednesday, August 15th. Guggenheim restated a “buy” rating and set a $8.70 target price on shares of Alta Mesa Resources in a report on Thursday, August 16th. ValuEngine upgraded shares of Alta Mesa Resources from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 14th. Finally, Stifel Nicolaus dropped their target price on shares of Alta Mesa Resources from $13.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, August 22nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $8.89.
Shares of NASDAQ AMR traded down $0.09 during midday trading on Tuesday, hitting $3.23. The company had a trading volume of 40,149 shares, compared to its average volume of 1,453,843. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.17. Alta Mesa Resources has a twelve month low of $2.80 and a twelve month high of $10.79.
Alta Mesa Resources declared that its board has authorized a stock buyback plan on Tuesday, August 14th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to repurchase up to 2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In other Alta Mesa Resources news, Director Bayou City Energy Management L bought 422,000 shares of the company’s stock in a transaction on Thursday, August 30th. The stock was purchased at an average cost of $4.89 per share, for a total transaction of $2,063,580.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders have acquired a total of 4,133,911 shares of company stock valued at $18,294,607 over the last 90 days. 0.21% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of AMR. Northern Trust Corp purchased a new stake in shares of Alta Mesa Resources during the first quarter worth about $1,723,000. BlackRock Inc. purchased a new stake in shares of Alta Mesa Resources during the first quarter worth about $25,818,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Alta Mesa Resources during the first quarter worth about $105,000. Deprince Race & Zollo Inc. grew its holdings in shares of Alta Mesa Resources by 32.5% during the second quarter. Deprince Race & Zollo Inc. now owns 83,500 shares of the company’s stock worth $569,000 after buying an additional 20,500 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Alta Mesa Resources during the second quarter worth about $1,791,000. Hedge funds and other institutional investors own 53.52% 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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