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Why Amplify Energy (AMPY) Stock Might be a Great Pick

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·2 min read
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One stock that might be an intriguing choice for investors right now is Amplify Energy Corp. AMPY. This is because this security in the Oil and Gas - Exploration and Production - United States space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.

This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Oil and Gas - Exploration and Production - United States space as it currently has a Zacks Industry Rank of 54 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.

Meanwhile, Amplify Energy is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.

Amplify Energy Corp. Price and Consensus

Amplify Energy Corp. Price and Consensus
Amplify Energy Corp. Price and Consensus

Amplify Energy Corp. price-consensus-chart | Amplify Energy Corp. Quote

In fact, over the past month, current quarter estimates have moved from a loss of 12 cents per share to earnings of 13 cents per share, while current year estimates have moved from a loss of 26 cents to earnings of 23 cents per share. The company currently carries a Zacks Rank #3 (Hold), which is also a favorable signal. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

So, if you are looking for a decent pick in a strong industry, consider Amplify Energy. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

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