|Bid||0.00 x 1800|
|Ask||0.00 x 800|
|Day's Range||6.09 - 6.60|
|52 Week Range||4.01 - 13.23|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||2.32|
|Earnings Date||Nov 6, 2019|
|Forward Dividend & Yield||0.80 (14.21%)|
|1y Target Est||10.25|
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As the year winds down, it’s a good time to asses our portfolio for 2020. The US economy is still in a boom time, but there are some clouds on the international horizon. The Chinese and European economies are showing signs of slowing down, and there is some concern that a general global slowdown could metastasize to the US.Dividend stocks offer a sound income-based option for investors who don’t want to exit the market but also want a shield to protect their income stream. Using the TipRanks Stock Screener tool, we’ve looked for stocks showing a ‘Very High’ dividend yield status – specifically, over 5%, a high enough yield to attract the interest of income-minded investors. To refine our search of the database, we also filtered our search to show only Buy-rated stocks with upside potential of 10% or higher.From a database of more than 6,400 publicly traded stocks, the Screener found 185 that fit our search criteria – a much more manageable number, with plenty of interesting stocks to choose from. We’ve selected three, from a variety of business sectors, that offer solid combinations of high yield and room for growth. Let’s give them a closer look.Capital Product Partners (CPLP)Sometimes, the most genius ideas slip right by us, almost without notice. The guy who invented the now ubiquitous metal shipping container gave us one of those ideas. The container, with a few standardized sizes, makes loading and offloading easier and faster, and allows for larger cargo ships loaded to higher capacities. In short, the container revolutionized the shipping industry.Capital Product Partners is one of the companies that has benefitted from the shipping container. The company engages in the seaborne transport of cargo – both containerized goods and dry bulk cargos. These are carried in a fleet of eleven ships – ten container carriers, and one dry bulk carrier. Capital has operating agreements on a majority of these vessels until 2022 and 2023. The company streamlined operations earlier this year by divesting its tanker fleet in an agreement with DSS Holdings. CPLP retains part ownership of the tankers, but no longer bears the cost of their operation.In Q3, CPLP reported net income of $3.4 million. This translated to an EPS of 18 cents, a modest sum but a huge improvement from the year-ago number, which was a loss of $1.33 per share. Total revenue for the quarter came to $26.4, 17% down from Q3 2018. The company attributed the decline in revenue to the removal of two vessels from the carrier fleet.The drop in revenue did not scare off investors. CPLP has shown a small gain since the quarterly report, as investors are attracted by the company’s profitable assets and strong dividend. The only dark spot is the EPS, which is not high enough to sustain the 32-cent per quarter dividend payment long-term. The company has been maintaining that payment over the past year, however, showing a commitment to sharing income with investors. The annualized yield is impressive, at 10.7%.Liam Burke, writing on CPLP for B. Riley FBR, sees a clear path forward for the shipping company. He writes, of the industry’s future prospects, “The underlying environment for container and dry bulker vessels remains stable with the reduction in excess capacity in both fleets, which should also translate to healthy long-term charter rates. The underlying demand for commodities continues to grow steadily, while existing bulker capacity remains relatively tight.”In line with this, Burke puts a Buy rating on CPLP shares with a price target of $14, implying a robust 19% upside potential. (To watch Burke’s track record, click here.)CPLP shares have a Strong Buy from the analyst consensus, with 3 reviewers assigning Buy ratings in the last month. Shares are priced at a discount, trading for $11.71, and the $14.67 average price target suggests a clear upside of 25%. (See CPLP stock analysis on TipRanks) Amplify Energy (AMPY)Second up is an oil and natural gas drilling company. The energy sector in the US has been booming since 2008, when fracking methods began spreading through the industry, making accessible previously unrecoverable oil reserves. Amplify describes itself as an “upstream” company, meaning it deals mainly in directly acquiring properties and extracting the oil and gas resources from them. The company operates mainly in Texas and Louisiana, with additional operations in Wyoming and off the California coast.On its various properties, Amplify operates over 1,400 active wells, with another 1,000 wells in development or inactive status. The company has more than 900 Bcfe (billion cubic feet equivalent – an industry term equating energy resources to the standard measure for extractable natural gas) in proven reserves. In August of this year, Amplify’s shareholders approved a merger-of-equals agreement with Midstate Petroleum. The combined company uses the Amplify name, and is headquartered in Houston, Texas.Amplify started paying out a quarterly dividend in Q3 of this year. The amount is modest, at 20 cents, but it is a good start. The company’s share price is low enough that this initial dividend payment gives a yield of 14.2%. Compare this to the S&P average yield of just 2%, and the attraction is obvious.Two Wall Street analysts have been impressed enough with Amplify to initiate coverage of AMPY with Buy ratings. Jeff Grampp, of Northland Securities, wrote, “We think AMPY is a differentiated E&P as it is currently generating significant FCF, which funds a meaningful quarterly dividend of $0.20/ Share. Its diversified, low-decline asset base is supportive of this business model and we believe the company can find accretive acquisitions, as it demonstrated by merging with peer, Midstates Petroleum in August 2019.” Grampp’s $10 price target implies an eye-opening 70% upside to AMPY shares. (To watch Grampp’s track record, click here)Also bullish is Roth Capital analyst John White. White also sees AMPY’s free cash flow, based on quality properties, as the main driver for investor interest: “AMPY, in our opinion, presents a compelling investment case due to several major factors, among which are: 1) a unique financial strategy in the U.S. E&P sector devoted to a strong return of capital program involving dividends and stock buybacks, and 2) a set of oil and gas properties that are well suited to support this program.” White backs up his Buy rating with a $10.50 price target, indicating his confidence in an 86% upside. (To watch White’s track record, click here)AMPY stock started garnering analyst interest after the Midland acquisition and initiation of the dividend – two moves that showed the company is following a solid plan. Both reviews, cited above, agree that AMPY is a buying proposition. The stock’s average price target, $10.25, suggests a powerful upside potential of 82%. (See Amplify Energy stock-price forecast on TipRanks)Broadmark Realty Capital (BRMK)Dividend investors will always be drawn to real estate investment trusts (REITs), as these companies are structured by law to return capital to shareholders. It is not uncommon to find REITs with dividend payout ratios (the comparison of the dividend to the EPS) approaching 85% or even higher. This would be unsustainable in most companies, but the tax code requires it in this segment, and the nature of REITs implies a steady cash flow to support the dividend.REITs buy up and manage properties for commercial and residential purposes. Broadmark, a typical company in the mortgage sector of the business, specializes in the renovation of and subsequent development of acquired properties, and holds a diversified portfolio based on secured loans for real estate investors and developers. The company was formed in November as a result of the merger between Trinity Merger Corporation and Broadmark real estate lending. The new company started trading publicly on November 15.As mentioned above, the tax code requires REITs to pay back a large proportion of income to investors as dividends. In compliance with this, Broadmark last week declared its first dividend, which will pay out on January 15, 2020 to all shareholders of record as of December 31, 2019. The dividend, at 12 cents per share, will be the company’s first under the BRMK ticker.Initiating coverage of BRMK shares in November, when the stock began trading, B. Riley analyst Timothy Hayes took a bullish position. He reiterated his Buy rating last week, in his second note of the stock, writing, “[W]e believe the dividend is currently set at a level that does not reflect the true earnings power of the platform pro forma for deployment of capital acquired through the Trinity merger and for private AUM growth. As such, we expect the dividend should steadily increase over the course of FY20 as earnings power increases, resulting in a much more attractive dividend yield than the current annualized dividend implies.”Backing up his Buy rating, Hayes gives BRMK a $13 price target, implying room for 9.5% share appreciation in the next 12 months. (To watch Hayes’s track record, click here)Being a new ticker in the stock market, BRMK has not had time to attract a lot of Wall Street love – but in its first four weeks of trading it has received two Buy ratings. At $12.50, the average price target indicates an upside potential of 5.3% from the $11.87 current trading price. (See Broadmark stock analysis on TipRanks)
(Bloomberg) -- Banks have begun trimming back the credit lines of America’s shale producers, further undercutting a beleaguered industry that’s been struggling to rebuild investor confidence.Laredo Petroleum Inc. and Oasis Petroleum Inc. are among at least six producers whose ability to secure short-term loans against their oil and natural gas reserves have dropped by 10% or more, according to data in earnings statements and filings. The declines offer the first hint of results from a semi-annual bank review of the industry’s borrowing capacity that generally runs through December.For the first time since 2016, an industry survey done prior to the review found most respondents expected to see declines. The noose is tightening at a time when producers have seen their market values plunge 21% this year. Meanwhile, at least 15 producers have already filed for bankruptcy during the year.A substantive decline in borrowing base “can be a good precursor to potential bankruptcy because as capital markets stay closed off for these companies, the borrowing base serves as the only source of liquidity,” Billy Bailey, Saltstone Capital Management LLC portfolio manager, said by telephone.Representatives for Laredo and Oasis did not immediately return phone and email messages seeking comment.Bondholders and other lenders are increasingly wary of what’s unfolding in shale. Chesapeake Energy Corp., once the nation’s largest gas supplier, warned earlier this month it may struggle to avoid bankruptcy. While fracking has turbocharged U.S. oil and gas output in recent years, that success has helped drive down oil prices to almost half what they were five years ago.In some cases, producers are struggling under debt loads accumulated in earlier, more heady times. But other issues are at play as well: Some have drilled their best locations and are now turning to lower-quality sites. And some have been drilling wells too close together, resulting in a loss of overall performance.At the same time, energy is the only sector yielding negative returns in the high-yield debt market, falling over 2% compared to a nearly 12% gain for its index.In some cases, a borrowing-base cut can send a company spinning into bankruptcy. If a driller has already borrowed heavily on its credit line, and the new limit is lower than the outstanding balance, the company is overdrawn and has to repay the excess to the lender.That’s difficult if the company is short on cash and doesn’t have other places to get it quickly. Such cuts helped drive Vanguard Natural Resources Inc. into bankruptcy twice, once in 2017 and again on March 31. In September, Alta Mesa Resources Inc. filed for bankruptcy after the Houston-based explorer’s borrowing base was cut 46% to $200 million.“In 2019, we’ve seen another $15 billion going to bankruptcy debt at risk. I think those numbers will increase through the end of the year,” said Charles Beckham, a partner at Haynes & Boone LL, a law firm that undertakes an annual industry survey prior to the bank redeterminations. “We know that there are a handful of large companies that are on the edge.”Decreased Borrowing Bases:Lower crude prices are naturally expected to hurt the industry’s ability to borrow, with respondents from an October survey from Dallas-based Haynes & Boone estimating a 10% to 20% decrease on borrowing bases this season. Still, the hit may not end up being as bad as expected once the final reviews are completed.“Based on the tough parameters the banks were putting in place, we thought the borrowing base redeterminations could actually have been worse than what actually transpired,” Bailey said. “It is noticeable, though, that this redetermination season was an initial warning shot to all companies.”No changes at all in a company’s borrowing based can also signal a level of concern, according to Kraig Grahmann, a Haynes & Boone partner.“There have been a lot of borrowing base reaffirmations where in the past, those borrowing bases have increased,” Grahmann said. “The banks have been sending a message to the borrowers that they are tightening up their credit extensions.”Reaffirmed Borrowing Bases:Still, the fall review season is ongoing, and companies that are more overleveraged usually will take longer to reveal how their capacity might have changed.“Fall borrowing base determination season really stretches from September to December in any given year,” Grahmann said. “Banks typically drag their feet on the more distressed companies. The tougher ones are the ones that get handled later during each season.”To contact the reporter on this story: Kriti Gupta in New York at email@example.comTo contact the editors responsible for this story: Simon Casey at firstname.lastname@example.org, Reg GaleFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
HOUSTON, Nov. 06, 2019 -- Amplify Energy Corp. (NYSE: AMPY) (“Amplify” or the “Company”) announced today its pro forma(1) and reportable(2) operating and financial results for.
HOUSTON, Oct. 23, 2019 -- Amplify Energy Corp. (“Amplify” or the “Company”) (NYSE: AMPY) announced today that it will report third quarter 2019 financial and operating results.
Most major cap-weighted indexes are rebalanced quarterly, semi-annually, or annually. This rebalancing consists of adding and removing securities based on market cap fluctuations throughout the quarter. ...
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...
HOUSTON, Sept. 11, 2019 -- Amplify Energy Corp. (“Amplify” or the “Company”) (NYSE: AMPY) announced today that the Company will be attending the 2019 Johnson Rice Energy.
Today we are going to look at Amplify Energy Corp. (NYSE:AMPY) to see whether it might be an attractive investment...
HOUSTON, Aug. 06, 2019 -- Amplify Energy Corp. (“Amplify”) and Midstates Petroleum Company, Inc. (NYSE: MPO) (“Midstates”) announced today that the previously announced.
HOUSTON, Aug. 05, 2019 -- Amplify Energy Corp. (OTCQX: AMPY) (“Amplify” or the “Company”) announced today its operating and financial results for the second quarter 2019..
Amplify Energy Corp. (AMPY) (“Amplify” or the “Company”) and Midstates Petroleum Company, Inc. (MPO) (“Midstates”) announced that the proposals necessary for the companies’ previously announced all-stock, merger-of equals transaction were approved today by Amplify’s stockholders at the Amplify special meeting and by Midstates’ stockholders at the Midstates annual meeting. Amplify stockholders will receive 0.933 shares of Midstates common stock for each share of Amplify common stock.
HOUSTON, July 29, 2019 -- Amplify Energy Corp. (“Amplify” or the “Company”) (OTCQX: AMPY) announced today that it will report second quarter 2019 financial and operating.
NEW YORK , June 27, 2019 /PRNewswire/ -- Amplify Energy Corporation (AMPY) Lifshitz & Miller announces investigation into possible breach of fiduciary duties in connection with the proposed sale of Amplify ...
Amplify’s net debt position as of March 31, 2019 was $239 million, pro forma for the release of the Beta trust cash, net debt would be reduced to $149 million, resulting in pro-forma Net Debt / LTM Adjusted EBITDA of 1.1x. Including the impact of the pending merger with Midstates, the pro-forma Net Debt for the consolidated company would be $207 million as of March 31, 2019 with Net Debt / LTM Adjusted EBITDA of 0.9x. The Company’s operations are focused in the Rockies, offshore California, East Texas / North Louisiana and South Texas. For more information, visit www.amplifyenergy.com. This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Amplify expects, believes or anticipates will or may occur in the future are forward-looking statements. Terminology such as “will,” “would,” “should,” “could,” “expect,” “anticipate,” “plan,” “project,” “intend,” “estimate,” “believe,” “target,” “continue,” “potential,” the negative of such terms or other comparable terminology are intended to identify forward-looking statements.
Liberty Expedia Holdings, Inc. (LEXEA) ("Liberty") regarding its acquisition by Expedia Group, Inc. ("Expedia"). Under the terms of the proposed transaction, Liberty shareholders will receive shares of Expedia common stock per share of Liberty common stock they own. Click here for more information: https://www.monteverdelaw.com/case/liberty-expedia-holdings-inc. It is free and there is no cost or obligation to you. DNB Financial Corporation (DNBF) ("DNB or "Company") related to the sale of the Company to S&T Bancorp, Inc. ("S&T Bancorp"). Under the terms of the agreement, DNB shareholders will have the right to receive 1.22 shares of S&T Bancorp common stock for each share of DNB they own.
HOUSTON, May 22, 2019 -- Amplify Energy Corp. (“Amplify” or the “Company”) (OTCQX: AMPY) announced today that the Company will be participating in the 2019 Louisiana Energy.
NEW YORK, NY / ACCESSWIRE / May 9, 2019 / Amplify Energy Corp. (OTCQX: AMPY ) will be discussing their earnings results in their 2019 First Quarter Earnings to be held on May 9, 2019 at 11:00 AM Eastern ...
MILWAUKEE , May 6, 2019 /PRNewswire/ -- Ademi & O'Reilly, LLP is investigating the Board of Amplify Energy Corp. (OTCQX: AMPY) for possible breaches of fiduciary duty and other violations of the law in ...
Amplify Energy Corp. (AMPY) (“Amplify”) and Midstates Petroleum Company, Inc. (MPO) (“Midstates”) announced today that they have entered into a definitive merger agreement pursuant to which Amplify will merge with a subsidiary of Midstates in an all-stock merger-of-equals. Under the terms of the merger agreement, Amplify stockholders will receive 0.933 shares of newly issued Midstates common stock for each Amplify share of common stock. The merger is expected to close in the third quarter of 2019, at which time Amplify and Midstates stockholders will each own 50% of the outstanding shares of the combined company. The combined company will be headquartered in Houston and trade on the NYSE under the ticker AMPY.
HOUSTON, May 02, 2019 -- Amplify Energy Corp. (“Amplify” or the “Company”) (OTCQX: AMPY) announced today that it will report first quarter 2019 financial and operating results.
HOUSTON, March 06, 2019 -- Amplify Energy Corp. (OTCQX: AMPY) (“Amplify” or the “Company”) announced today its operating and financial results for the fourth quarter and full.
HOUSTON, Feb. 20, 2019 -- Amplify Energy Corp. (“Amplify” or the “Company”) (OTCQX: AMPY) announced today that it will report fourth quarter and full year 2018 financial and.