Zacks Investment Research Downgrades Alta Mesa Resources (AMR) to Sell

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

Other research analysts have also issued research reports about the company. ValuEngine raised shares of Alta Mesa Resources from a “strong sell” rating to a “sell” rating in a report on Friday, January 25th. Guggenheim cut shares of Alta Mesa Resources from a “buy” rating to a “sell” rating in a report on Tuesday, February 26th. Finally, Imperial Capital set a $6.00 target price on shares of Alta Mesa Resources and gave the company a “hold” rating in a report on Wednesday, January 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $8.14.

AMR traded down $0.02 on Monday, hitting $0.26. 14,263 shares of the company traded hands, compared to its average volume of 1,717,588. Alta Mesa Resources has a 12-month low of $0.20 and a 12-month high of $7.92. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.20.

Institutional investors have recently added to or reduced their stakes in the business. Deutsche Bank AG lifted its stake in Alta Mesa Resources by 656.5% in the 4th quarter. Deutsche Bank AG now owns 1,658,320 shares of the company’s stock valued at $1,657,000 after acquiring an additional 1,439,097 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Alta Mesa Resources by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 1,239,611 shares of the company’s stock worth $1,239,000 after buying an additional 33,442 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Alta Mesa Resources by 50.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,441,186 shares of the company’s stock worth $1,441,000 after buying an additional 484,530 shares in the last quarter. HRT Financial LLC acquired a new position in Alta Mesa Resources during the fourth quarter worth about $45,000. Finally, Jane Street Group LLC bought a new position in shares of Alta Mesa Resources in the fourth quarter worth about $59,000. 76.76% of the stock is currently owned by institutional investors.

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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