|Bid||0.0000 x 1000|
|Ask||0.0000 x 900|
|Day's Range||0.0770 - 0.0888|
|52 Week Range||0.0260 - 3.5950|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Shares Alta Mesa Resources Inc. slid 14% to match its record closing price Thursday, after the Houston-based oil and gas development company said it filed for bankruptcy. The company said that despite progress in cutting costs and improving well results, it continued to operate against "a historically challenging commodity price environment" and a capital markets environment that is "highly constrained for energy companies." Separately, the company said it promoted Mark Castiglione to chief executive, replacing interim-CEO Jim Hackett, who resumed his role as executive chairman. Castiglione was previously interim executive vice president of strategy and corporate development. Alta Mesa's stock has lost 93% of its value this year, while the SPDR Energy Select Sector ETF has gained 5.9% and the S&P 500 has advanced 20%.
"Since 2006, value stocks (IVE vs IVW) have underperformed 11 of the 13 calendar years and when they beat growth, it wasn't by much. Cumulatively, through this week, it has been a 122% differential (up 52% for value vs up 174% for growth). This appears to be the longest and most severe drought for value […]
Independent energy company Alta Mesa Resources, Inc. has cut more staff at its Houston facility, just one week after receiving a delisting warning from NASDAQ.