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Amplify Energy Corp. (AMPY)

NYSE - NYSE Delayed Price. Currency in USD
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7.33+0.35 (+5.01%)
At close: 04:00PM EDT
7.46 +0.13 (+1.77%)
Pre-Market: 08:11AM EDT
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  • Y
    Yahoo Finance Insights
    Amplify Energy reached a 52 Week high at 7.06
  • Y
    Yahoo Finance Insights
    Amplify Energy reached a 52 Week high at 7.75
  • Y
    Yahoo Finance Insights
    Amplify Energy reached a 52 Week high at 7.52
  • Y
    Yahoo Finance Insights
    Amplify Energy reached a 52 Week high at 6.41
  • Y
    Yahoo Finance Insights
    Amplify Energy reached a 52 Week high at 7.42
  • Y
    Yahoo Finance Insights
    Amplify Energy reached a 52 Week high at 6.74
  • u
    uncle-buck
    This company needs to be sold.
  • Y
    Yahoo Finance Insights
    Amplify Energy is down 7.99% to 6.91
  • Y
    Yahoo Finance Insights
    Amplify Energy is up 9.73% to 6.88
  • C
    Chris
    Shame that Beta seems likely to be offline for a while, it will take ages to get all the procedures completed
  • J
    Joe
    Really quiet once this started going up. All those bashers disappeared as can be expected!

    If earnings are bad they will be back until it rises again!
  • A
    Anonymous
    California oil spill cause probed, ship anchor cited as possibility
    By Daniel Trotta

    4 minute read
    HUNTINGTON BEACH, Calif., Oct 4 (Reuters) - More oil from a massive offshore spill landed on the southern California shore on Monday, with beaches closed and dead fish and birds washing up on shore as officials investigated whether a ship anchor striking a pipeline could have triggered the leak.

    Crews dressed in white coveralls and helmets raced against an approaching storm as they cleaned damage from 3,000 barrels (126,000 gallons) of oil that spilled into the Pacific Ocean in recent days from a pipeline connected to an offshore facility owned by a unit of Amplify Energy Corp (AMPY.N).

    Amplify CEO Martyn Willsher said at a news conference on Monday it was possible a ship anchor could have struck the pipeline. Earlier, he said the line was shut and its remaining oil removed. The company's shares plunged 44% in heavy trading.

    Dozens of container ships have been stranded off the coast recently, awaiting their turn to enter the port. read more The Coast Guard is assessing whether one of their anchors could have hit the line, said Captain Rebecca Ore. "It is possible they would transit over a pipeline," she said.

    As the crews worked to clean areas near the beach and wetlands running inland from the ocean on the eastern side of the coastal highway, residents told local news stations they had smelled a foul odor on Friday and were concerned about the lack of attention to the reports.

    Willsher said Amplify received no reports of a smell on Friday. The pipeline and oil platform are run by a California subsidiary of the Houston-based offshore crude oil producer.

    Newport Beach Fire Chief Jeff Boyles said the department received multiple reports of a foul odor Thursday and Friday, but such reports are common and the city received no official report of an oil spill until midday on Saturday.

    The timing of when reports were received will be one of the issues investigated, said Orange County Supervisor Katrina Foley. "Mariners and other were reporting they saw a sheen on Friday night," she said at the press conference.

    Officials deployed 2,050 feet (625 meters) of protective booms, which help contain and slow the oil flows, and about 3,150 gallons had been recovered on Sunday, the U.S. Coast Guard said.

    A worker is reflected in the water of an estuary after a major oil spill off the coast of California came ashore in Huntington Beach, California, U.S., October 4, 2021. REUTERS/Mike Blake
    Clean-up crews work to mitigate the damage in an ecological estuary after a major oil spill off the coast of California came ashore in Huntington Beach, California, U.S. October 4, 2021. REUTERS/Mike Blake
    Clean-up crews work to mitigate the damage in an ecological estuary after a major oil spill off the off the coast of California came ashore in Huntington Beach, California, U.S. October 4, 2021. REUTERS/Mike Blake

    1/5
    Clean-up crews work to mitigate the damage in an ecological estuary after a major oil spill off the coast of California came ashore in Huntington Beach, California, U.S. October 4, 2021. REUTERS/Mike Blake
  • 4
    4whom the bell tolz
    The 3 analysts offering 12-month price forecasts for Amplify Energy Corp have a median target of 7.37, with a high estimate of 9.75 and a low estimate of 7.00. The median estimate represents a +501.63% increase from the last price of 1.23.
    Bullish
  • Y
    Yahoo Finance Insights
    Amplify Energy reached a 52 Week high at 6.32
  • Y
    Yahoo Finance Insights
    Amplify Energy reached a 52 Week high at 6.22
  • O
    Ondrej
    Bridgeway Capital Management, Inc.. recently announced the acquisition of new stake in Amplify Energy Corp. (NYSE:AMPY). The institutional investor has increased its shareholding in the Energy company by 88.24% to 0.64 million shares with purchase of 0.3 million shares. This fresh investment now brings its stake to 1.71% valued currently at $0.78 million.
    Bullish
  • G
    Gorgeous George
    According to Fox News:

    California oil spill in Pacific extends for miles, expected to hit beaches -
    About 3,000 barrels of crude oil spilled from Platform Elly, off the California coast

    The offshore rig is operated by Beta Offshore, a Long Beach, California-based unit of Houston-based Amplify Energy Corp.
  • P
    Patrick
    I am keeping my shares of Amplify after today's 30% drop to $2.93.
    1. Management is looking for opportunities to consolidate small oil and gas companies to reduce overhead per barrel. With the line of credit available Amplify could acquire ( a stock acquisition would be better) or be acquired at 50% of book value which would double today's share price.
    2. Management is reducing capital spending to $40 to $52 million in 2020. I see so many EV's replacing ICE vehicles that oil usage for gasoline has peaked. All oil companies should be curtailing capital spending. Amplify's capital spending will be offset by depreciation.
    3. The $.10 dividend while halved is now paying out 14%. The dividend uses $17M of cash per year. This leaves little room for a stock buyback. If there is excess cash reduce the debt which is already reduced from $294M at 12/31/19 to $274K at 2/28/20.
    Neutral
  • E
    ExtremeJim
    The AP is reporting that Coast Guard divers have found the Amplify pipeline "has been split open and dragged across the ocean floor." That would be consistent with the anchor damage theory.

    https://apnews.com/article/oil-spills-business-us-coast-guard-california-environment-and-nature-689c95910d1035e1c658664521ae4dfa
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