California Public Employees Retirement System Acquires 3,016 Shares of Montage Resources Corp (NYSE:MR)

California Public Employees Retirement System grew its holdings in Montage Resources Corp (NYSE:MR) by 20.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,982 shares of the medical instruments supplier’s stock after purchasing an additional 3,016 shares during the period. California Public Employees Retirement System’s holdings in Montage Resources were worth $68,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Marshall Wace North America L.P. bought a new stake in Montage Resources during the first quarter worth about $31,000. Tower Research Capital LLC TRC acquired a new position in Montage Resources during the second quarter valued at approximately $26,000. Point72 Hong Kong Ltd grew its stake in Montage Resources by 322.9% in the second quarter. Point72 Hong Kong Ltd now owns 5,003 shares of the medical instruments supplier’s stock valued at $31,000 after purchasing an additional 3,820 shares in the last quarter. Aperio Group LLC bought a new position in Montage Resources in the second quarter valued at approximately $31,000. Finally, UBS Asset Management Americas Inc. acquired a new position in shares of Montage Resources during the 2nd quarter worth approximately $61,000. Institutional investors own 78.34% of the company’s stock.

A number of brokerages have recently issued reports on MR. Imperial Capital upgraded Montage Resources from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $5.00 to $7.00 in a research note on Monday, November 11th. Zacks Investment Research raised shares of Montage Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, November 15th. TheStreet raised shares of Montage Resources from a “d+” rating to a “c-” rating in a research note on Friday, November 8th. Scotiabank upgraded shares of Montage Resources from a “sector perform” rating to an “outperform” rating and set a $8.00 target price on the stock in a report on Friday. Finally, ValuEngine lowered shares of Montage Resources from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $9.45.

Shares of MR stock opened at $6.21 on Friday. Montage Resources Corp has a 52-week low of $2.59 and a 52-week high of $18.60. The firm’s 50-day moving average is $4.89 and its 200-day moving average is $4.57. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.67.

Montage Resources (NYSE:MR) last posted its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.35. The business had revenue of $163.30 million during the quarter, compared to analysts’ expectations of $159.90 million. Montage Resources had a return on equity of 9.65% and a net margin of 8.58%. Sell-side analysts forecast that Montage Resources Corp will post 1.79 earnings per share for the current fiscal year.

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.

Further Reading: S&P/ASX 200 Index

Want to see what other hedge funds are holding MR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Montage Resources Corp (NYSE:MR).

Institutional Ownership by Quarter for Montage Resources (NYSE:MR)

Receive News & Ratings for Montage Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Montage Resources and related companies with MarketBeat.com's FREE daily email newsletter.