AMPY - Amplify Energy

[wisowis]

Yah this worked really well.   Haven't sold any.   And it re-priced with Oil being flat...

Good job -- I nearly bottom ticked it, but sold out at ~$6.50 + $0.20 dividend. I could have used a bit more patience, but can't complain about the result...

[wisowis]

Might re-open a position in this. Shares are down ~25% from the highs of the past month. And now trading below their average repurchase price (see below).

They reported Q3 last week and the numbers basically matched their guidance: http://investor.amplifyenergy.com/news-releases/news-release-details/amplify-energy-announces-third-quarter-2019-results-fourth

On repurchases:

• "Since the inception of the open market share repurchase program, the Company has repurchased approximately 2.4 million shares of common stock at an average price of $6.06 for a total cost of approximately $14.5 million (inclusive of fees).  As a result, Amplify has $10.5 million of repurchase capacity under the program."

Additionally:

• Guided to $16-21 million FCF in Q4
• Added to their hedge positions

[given2invest]

Yes, I haven't sold any.  There is no real reason for the pullback.  The story is intact though we won't see it move higher till they do another deal and raise the dividend and/or oil goes higher.