Q2 2018 Earnings Forecast for Alta Mesa Resources Issued By Imperial Capital (AMR)
Alta Mesa Resources (NASDAQ:AMR) – Investment analysts at Imperial Capital cut their Q2 2018 earnings per share (EPS) estimates for shares of Alta Mesa Resources in a research note issued on Wednesday, May 23rd. Imperial Capital analyst I. Haas now forecasts that the company will post earnings per share of $0.10 for the quarter, down from their previous forecast of $0.11. Imperial Capital has a “Outperform” rating and a $10.00 price objective on the stock. Imperial Capital also issued estimates for Alta Mesa Resources’ Q3 2018 earnings at $0.14 EPS and Q4 2018 earnings at $0.22 EPS.
Several other research analysts have also weighed in on AMR. Stifel Nicolaus began coverage on Alta Mesa Resources in a research report on Thursday, April 5th. They issued a “buy” rating and a $13.00 price objective for the company. Zacks Investment Research lowered Alta Mesa Resources from a “hold” rating to a “sell” rating in a research report on Monday, May 7th.
A number of institutional investors have recently modified their holdings of the stock. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in Alta Mesa Resources in the first quarter worth approximately $12,042,000. Pacific Grove Capital LP purchased a new position in Alta Mesa Resources in the first quarter worth approximately $1,512,000. Cowen Inc. purchased a new position in Alta Mesa Resources in the first quarter worth approximately $1,658,000. Verition Fund Management LLC purchased a new position in Alta Mesa Resources in the first quarter worth approximately $186,000. Finally, Anson Funds Management LP purchased a new position in Alta Mesa Resources in the first quarter worth approximately $3,301,000. Institutional investors own 49.96% 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. The company 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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