5 Best Stocks to Buy Now According to Billionaire Marc Lasry’s Avenue Capital

3. Amplify Energy Corp. (NYSE:AMPY)

Avenue Capital’s Stake Value: $14,088,000

Percentage of Avenue Capital’s 13F Portfolio: 7%

Number of Hedge Fund Holders: 14

Amplify Energy Corp. (NYSE:AMPY) is an energy company among the top three holdings in Avenue Capital’s portfolio. It engages in the acquisition, development, exploitation, and production of oil and natural gas properties in the US.

This June, Amplify Energy Corp. (NYSE:AMPY) announced that it had completed its semi-annual borrowing base redetermination, which affirmed the company’s borrowing base at $225 million. The company’s CEO, Martyn Willsher, commented in light of this announcement that Amplify Energy Corp. (NYSE:AMPY) is now well-positioned to improve its liquidity position and leverage profile.

Out of 912 hedge funds, 14 hedge funds were long Amplify Energy Corp. (NYSE:AMPY) in the first quarter of 2022. Their total stake value was about $30.3 million.