Shares of Montage Resources Corp (NYSE:MR) were up 7.9% during trading on Monday . The company traded as high as $3.50 and last traded at $3.43, approximately 428,319 shares changed hands during trading. An increase of 53% from the average daily volume of 279,074 shares. The stock had previously closed at $3.18.
A number of analysts have commented on MR shares. Zacks Investment Research downgraded shares of Montage Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Royal Bank of Canada set a $17.00 price target on shares of Montage Resources and gave the stock a “buy” rating in a research report on Friday, August 9th. Imperial Capital dropped their price target 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. ValuEngine downgraded shares of Montage Resources from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 25th. Finally, Capital One Financial upgraded shares of Montage Resources from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Montage Resources presently has an average rating of “Hold” and an average price target of $8.83.
The company has a debt-to-equity ratio of 0.66, a current ratio of 0.49 and a quick ratio of 0.51. The company has a 50-day moving average price of $4.02. The company has a market cap of $112.83 million, a P/E ratio of 3.51 and a beta of 1.69.
Montage Resources (NYSE:MR) last released its earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.44. Montage Resources had a net margin of 9.01% and a return on equity of 9.50%. The business had revenue of $155.54 million for the quarter, compared to the consensus estimate of $145.23 million. Equities research analysts expect that Montage Resources Corp will post 1.65 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantamental Technologies LLC bought a new stake in shares of Montage Resources in the 1st quarter worth approximately $27,000. Marshall Wace North America L.P. bought a new stake in shares of Montage Resources in the 1st quarter worth approximately $31,000. Tower Research Capital LLC TRC bought a new stake in shares of Montage Resources in the 2nd quarter worth approximately $26,000. Point72 Hong Kong Ltd raised its holdings in shares of Montage Resources by 322.9% in the 2nd quarter. Point72 Hong Kong Ltd now owns 5,003 shares of the medical instruments supplier’s stock worth $31,000 after purchasing an additional 3,820 shares in the last quarter. Finally, Aperio Group LLC bought a new stake in shares of Montage Resources in the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 75.46% of the company’s stock.
About Montage Resources (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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