Montage Resources (NYSE:MR) Trading 1.9% Higher

Montage Resources Corp (NYSE:MR)’s stock price was up 1.9% during trading on Wednesday . The company traded as high as $4.40 and last traded at $4.31, 42,479 shares traded hands during trading. A decline of 93% from the average daily volume of 614,165 shares. The stock had previously closed at $4.23.

Several analysts have weighed in on MR shares. Zacks Investment Research upgraded shares of Montage Resources from a “hold” rating to a “buy” rating and set a $3.25 price objective for the company in a research note on Wednesday, August 28th. Imperial Capital decreased their target price on shares of Montage Resources from $9.00 to $6.00 and set an “inline” rating on the stock in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada set a $17.00 target price on shares of Montage Resources and gave the stock a “buy” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $8.75.

The stock has a 50-day moving average of $3.20 and a 200-day moving average of $8.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a market cap of $138.89 million, a price-to-earnings ratio of 4.32 and a beta of 1.75.

Montage Resources (NYSE:MR) last announced its quarterly earnings data on Tuesday, August 6th. The medical instruments supplier reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.44. The firm had revenue of $155.54 million during the quarter, compared to analysts’ expectations of $145.23 million. Montage Resources had a return on equity of 9.50% and a net margin of 9.01%. On average, equities analysts expect that Montage Resources Corp will post 1.65 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raging Capital Management LLC boosted its position in shares of Montage Resources by 56.4% during the 2nd quarter. Raging Capital Management LLC now owns 1,506,259 shares of the medical instruments supplier’s stock worth $9,188,000 after acquiring an additional 543,441 shares in the last quarter. BlackRock Inc. raised its position in Montage Resources by 142.4% during the second quarter. BlackRock Inc. now owns 1,294,257 shares of the medical instruments supplier’s stock valued at $7,894,000 after purchasing an additional 760,351 shares in the last quarter. Axar Capital Management L.P. acquired a new position in Montage Resources during the first quarter valued at approximately $18,755,000. HPS Investment Partners LLC acquired a new position in Montage Resources during the second quarter valued at approximately $5,611,000. Finally, Vanguard Group Inc. lifted its stake in Montage Resources by 38.3% during the second quarter. Vanguard Group Inc. now owns 593,426 shares of the medical instruments supplier’s stock worth $3,620,000 after purchasing an additional 164,379 shares during the last quarter. 76.59% of the stock is currently owned by institutional investors.

Montage Resources Company Profile (NYSE:MR)

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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