Alta Mesa Resources (NASDAQ:AMR) Shares Gap Down to $0.13

Alta Mesa Resources Inc (NASDAQ:AMR)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $0.13, but opened at $0.13. Alta Mesa Resources shares last traded at $0.12, with a volume of 2,127,232 shares trading hands.

AMR has been the subject of several recent research reports. 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 raised shares of Alta Mesa Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $6.19.

The company’s 50 day simple moving average is $0.15 and its 200-day simple moving average is $0.30.

Institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in shares of Alta Mesa Resources by 50.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,441,186 shares of the company’s stock worth $1,441,000 after acquiring an additional 484,530 shares during the last quarter. Two Sigma Advisers LP boosted its position in shares of Alta Mesa Resources by 984.3% in the fourth quarter. Two Sigma Advisers LP now owns 117,100 shares of the company’s stock worth $117,000 after acquiring an additional 106,300 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Alta Mesa Resources in the fourth quarter worth approximately $59,000. Deutsche Bank AG boosted its position in shares of Alta Mesa Resources by 656.5% in the fourth quarter. Deutsche Bank AG now owns 1,658,320 shares of the company’s stock worth $1,657,000 after acquiring an additional 1,439,097 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new stake in shares of Alta Mesa Resources in the fourth quarter worth approximately $60,000. 48.91% of the stock is currently owned by institutional investors.

Alta Mesa Resources Company Profile (NASDAQ:AMR)

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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