Brokerages Set $26.17 Price Target for Montage Resources Corp (MR)

Montage Resources Corp (NYSE:MR) has been assigned a consensus broker rating score of 2.50 (Hold) from the four analysts that cover the stock, Zacks Investment Research reports. Three analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. Montage Resources’ rating score has improved by 16.7% in the last 90 days as a result of a number of analysts’ upgrades and downgrades.

Brokers have set a 1 year consensus target price of $26.17 for the company and are predicting that the company will post $0.93 EPS for the current quarter, according to Zacks. Zacks has also given Montage Resources an industry rank of 40 out of 256 based on the ratings given to related companies.

Several research firms have weighed in on MR. Zacks Investment Research raised shares of Montage Resources from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Friday. ValuEngine downgraded shares of Montage Resources from a “hold” rating to a “sell” rating in a research note on Monday, April 1st. Finally, Capital One Financial raised shares of Montage Resources from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, May 8th.



Shares of NYSE:MR traded up $0.14 during mid-day trading on Thursday, reaching $10.39. 200,305 shares of the company’s stock were exchanged, compared to its average volume of 155,237. The firm has a market cap of $362.58 million, a PE ratio of 11.32 and a beta of 1.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. Montage Resources has a twelve month low of $9.44 and a twelve month high of $29.40.

Montage Resources (NYSE:MR) last issued its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.91. The company had revenue of $141.50 million for the quarter, compared to analyst estimates of $125.10 million. Montage Resources had a net margin of 1.35% and a return on equity of 8.73%. Sell-side analysts forecast that Montage Resources will post 3.66 EPS for the current year.

In other Montage Resources news, COO Oleg E. Tolmachev bought 2,400 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was bought at an average cost of $10.45 per share, with a total value of $25,080.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John K. Reinhart bought 5,050 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were acquired at an average cost of $9.90 per share, with a total value of $49,995.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 8,450 shares of company stock valued at $85,035. Insiders own 1.01% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. purchased a new position in Montage Resources in the first quarter valued at about $51,184,000. Axar Capital Management L.P. purchased a new position in Montage Resources in the first quarter valued at about $18,755,000. BlackRock Inc. purchased a new position in Montage Resources in the first quarter valued at about $8,030,000. Man Group plc purchased a new position in Montage Resources in the first quarter valued at about $7,994,000. Finally, Kayne Anderson Capital Advisors LP purchased a new position in Montage Resources in the first quarter valued at about $6,670,000.

Montage Resources Company Profile

Montage Resources Corporation operates as an oil and natural gas exploration and production company. As of December 31, 2018, it had an acreage position comprising approximately 241,000 net acres in Ohio and Pennsylvania; and had estimated proved reserves of 1,864.7 billion cubic feet of natural gas equivalent.

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