Alta Mesa Resources (NASDAQ:AMR) Upgraded to “Sell” at ValuEngine

Alta Mesa Resources (NASDAQ:AMR) was upgraded by investment analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued to investors on Thursday, ValuEngine reports.

Separately, Zacks Investment Research raised Alta Mesa Resources from a “sell” rating to a “hold” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Alta Mesa Resources has a consensus rating of “Hold” and a consensus target price of $6.69.

Alta Mesa Resources stock traded down $0.01 during mid-day trading on Thursday, hitting $0.14. The company had a trading volume of 1,450,900 shares, compared to its average volume of 3,430,835. The business has a 50 day simple moving average of $0.16. Alta Mesa Resources has a 12 month low of $0.11 and a 12 month high of $6.46.

Several hedge funds have recently bought and sold shares of AMR. Citigroup Inc. raised its stake in shares of Alta Mesa Resources by 1,359.7% in the fourth quarter. Citigroup Inc. now owns 27,501 shares of the company’s stock worth $27,000 after purchasing an additional 25,617 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Alta Mesa Resources in the fourth quarter worth $38,000. HRT Financial LLC purchased a new position in shares of Alta Mesa Resources in the fourth quarter worth $45,000. Jane Street Group LLC purchased a new position in shares of Alta Mesa Resources in the fourth quarter worth $59,000. Finally, D. E. Shaw & Co. Inc. purchased a new position in shares of Alta Mesa Resources in the fourth quarter worth $60,000. Hedge funds and other institutional investors own 49.07% 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.

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