Analysts Set Alta Mesa Resources Inc (NASDAQ:AMR) PT at $8.17

Shares of Alta Mesa Resources Inc (NASDAQ:AMR) have earned a consensus rating of “Hold” from the six brokerages that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $8.17.

Several equities analysts have recently issued reports on the stock. ValuEngine upgraded shares of Alta Mesa Resources from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Zacks Investment Research upgraded shares of Alta Mesa Resources from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th.

AMR traded down $0.01 on Friday, hitting $0.12. The company had a trading volume of 2,127,232 shares, compared to its average volume of 3,327,723. Alta Mesa Resources has a 52-week low of $0.10 and a 52-week high of $4.97. The stock has a fifty day simple moving average of $0.15 and a 200-day simple moving average of $0.30.

Several hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. increased its position in shares of Alta Mesa Resources by 1,359.7% during the fourth quarter. Citigroup Inc. now owns 27,501 shares of the company’s stock valued at $27,000 after acquiring an additional 25,617 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Alta Mesa Resources by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 1,239,611 shares of the company’s stock valued at $1,239,000 after acquiring an additional 33,442 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Alta Mesa Resources during the fourth quarter valued at approximately $59,000. D. E. Shaw & Co. Inc. bought a new stake in shares of Alta Mesa Resources during the fourth quarter valued at approximately $60,000. Finally, Two Sigma Advisers LP increased its position in shares of Alta Mesa Resources by 984.3% during the fourth quarter. Two Sigma Advisers LP now owns 117,100 shares of the company’s stock valued at $117,000 after acquiring an additional 106,300 shares in the last quarter. Hedge funds and other institutional investors own 48.91% 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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