Alta Mesa Resources (AMR) Stock Rating Lowered by Zacks Investment Research

Alta Mesa Resources (NASDAQ:AMR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday, Zacks.com reports.

According to Zacks, “Alta Mesa Resources, Inc. is an exploration and production company which focused on the development and acquisition of unconventional oil and natural gas reserves primarily in the eastern portion of the Anadarko Basin. Alta Mesa Resources Inc., formerly known as SILVER RUN ACQ, is based in TX, United States. “

AMR has been the topic of a number of other reports. ValuEngine cut shares of Alta Mesa Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Guggenheim cut shares of Alta Mesa Resources from a “buy” rating to a “sell” rating in a research report on Tuesday, February 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $6.69.

Shares of NASDAQ AMR traded up $0.01 during midday trading on Friday, reaching $0.14. 2,900,042 shares of the stock were exchanged, compared to its average volume of 2,684,732. Alta Mesa Resources has a 12 month low of $0.11 and a 12 month high of $7.48. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.59 and a quick ratio of 0.59.

Large investors have recently modified their holdings of the stock. Citigroup Inc. increased its stake in Alta Mesa Resources by 1,359.7% in the 4th quarter. Citigroup Inc. now owns 27,501 shares of the company’s stock valued at $27,000 after buying an additional 25,617 shares during the last quarter. Virtu Financial LLC acquired a new stake in Alta Mesa Resources in the 4th quarter valued at $32,000. Jane Street Group LLC increased its stake in Alta Mesa Resources by 134.4% in the 1st quarter. Jane Street Group LLC now owns 138,563 shares of the company’s stock valued at $37,000 after buying an additional 79,446 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in Alta Mesa Resources in the 4th quarter valued at $38,000. Finally, RBF Capital LLC acquired a new stake in Alta Mesa Resources in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 71.56% of the company’s stock.

About Alta Mesa Resources

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.

Read More: What is a Lock-Up Period?

Get a free copy of the Zacks research report on Alta Mesa Resources (AMR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Alta Mesa Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alta Mesa Resources and related companies with MarketBeat.com's FREE daily email newsletter.