Sanders Morris Harris LLC cut its stake in shares of Montage Resources Co. (NYSE:MR) by 4.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 49,498 shares of the medical instruments supplier’s stock after selling 2,064 shares during the quarter. Sanders Morris Harris LLC’s holdings in Montage Resources were worth $218,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Jane Street Group LLC acquired a new position in shares of Montage Resources during the 1st quarter worth $26,000. Marshall Wace North America L.P. acquired a new stake in shares of Montage Resources during the 1st quarter valued at about $31,000. Bank of America Corp DE lifted its holdings in shares of Montage Resources by 49.0% during the 2nd quarter. Bank of America Corp DE now owns 10,202 shares of the medical instruments supplier’s stock valued at $40,000 after buying an additional 3,355 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in shares of Montage Resources during the 2nd quarter valued at about $60,000. Finally, Strs Ohio acquired a new stake in shares of Montage Resources during the 2nd quarter valued at about $85,000. 71.04% of the stock is currently owned by institutional investors and hedge funds.
NYSE MR traded down $0.07 during trading on Friday, hitting $5.17. The company’s stock had a trading volume of 307,208 shares, compared to its average volume of 682,363. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.71. The firm has a 50 day moving average price of $4.79 and a 200 day moving average price of $4.82. The firm has a market cap of $186.23 million, a P/E ratio of -3.89 and a beta of 3.87. Montage Resources Co. has a 52 week low of $1.99 and a 52 week high of $8.30.
Montage Resources (NYSE:MR) last issued its quarterly earnings results on Thursday, August 6th. The medical instruments supplier reported ($0.57) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.24). The business had revenue of $90.68 million during the quarter, compared to the consensus estimate of $102.12 million. Montage Resources had a positive return on equity of 2.74% and a negative net margin of 8.49%. On average, equities analysts expect that Montage Resources Co. will post -1.23 earnings per share for the current year.
Several equities research analysts have recently issued reports on the company. Capital One Financial lowered Montage Resources from an “overweight” rating to an “equal weight” rating in a report on Wednesday, August 26th. Wells Fargo & Company began coverage on Montage Resources in a report on Thursday, June 25th. They issued an “equal weight” rating and a $10.00 target price for the company. Johnson Rice lowered Montage Resources from a “buy” rating to a “hold” rating and set a $7.46 target price for the company. in a report on Tuesday, August 18th. Zacks Investment Research upgraded Montage Resources from a “sell” rating to a “hold” rating in a report on Friday, October 9th. Finally, Royal Bank of Canada lowered Montage Resources from an “outperform” rating to a “sector perform” rating and set a $7.00 target price for the company. in a report on Monday, August 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $6.77.
About Montage Resources
Montage Resources Corporation operates as an oil and natural gas exploration and production company in the United States. As of December 31, 2019, it had an acreage position comprising approximately 233,800 net acres in Ohio and Pennsylvania; and had estimated proved reserves of 2,729.8 billion cubic feet of natural gas equivalent.
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