In a report released today, Derrick Whitfield from Stifel Nicolaus maintained a Buy rating on Alta Mesa Resources Inc (NASDAQ: AMR), with a price target of $12. The company’s shares closed yesterday at $4.44, close to its 52-week low of $4.04.
According to TipRanks.com, Whitfield is a 1-star analyst with an average return of -0.6% and a 49.7% success rate. Whitfield covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, HighPoint Resources Corporation, and Sundance Energy Australia.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Alta Mesa Resources Inc with a $9.57 average price target, implying an 115.5% upside from current levels. In a report issued on August 14, Guggenheim also reiterated a Buy rating on the stock with a $8.70 price target.
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The company has a one-year high of $10.79 and a one-year low of $4.04. Currently, Alta Mesa Resources Inc has an average volume of 1.21M.
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Alta Mesa Resources, Inc. is an independent exploration and production company, which is focused on the development and acquisition of unconventional oil and natural gas reserves in the eastern portion of the Anadarko Basin referred to as the STACK. The company was founded in 2018 and is headquartered in Houston, TX.
