Montage Resources (NYSE:MR) Raised to “Strong-Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Montage Resources (NYSE:MR) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday morning, Zacks.com reports. They currently have $5.25 price target on the medical instruments supplier’s stock.

According to Zacks, “Montage Resources Corporation is an exploration and production company. It is principally focused on the Utica and Marcellus Shales of southeast Ohio, West Virginia and North Central Pennsylvania. Montage Resources Corporation, formerly known as Eclipse Resources Corp, is based in IRVING, Texas. “

MR has been the subject of several other reports. Imperial Capital decreased their price objective on shares of Montage Resources from $9.00 to $6.00 and set an inline rating for the company in a report on Wednesday, July 10th. Royal Bank of Canada set a $17.00 price objective on shares of Montage Resources and gave the stock a buy rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $9.42.

MR stock opened at $4.06 on Wednesday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $160.67 million, a price-to-earnings ratio of 5.00 and a beta of 1.75. Montage Resources has a 12 month low of $2.59 and a 12 month high of $21.75. The firm has a 50 day moving average of $3.34 and a two-hundred day moving average of $8.31.

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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace North America L.P. bought a new stake in shares of Montage Resources during the 1st quarter worth $31,000. Tower Research Capital LLC TRC bought a new stake in shares of Montage Resources during the 2nd quarter worth $26,000. Point72 Hong Kong Ltd boosted its holdings in shares of Montage Resources by 322.9% during the 2nd quarter. Point72 Hong Kong Ltd now owns 5,003 shares of the medical instruments supplier’s stock worth $31,000 after buying an additional 3,820 shares during the period. Aperio Group LLC bought a new stake in shares of Montage Resources during the 2nd quarter worth $31,000. Finally, Signaturefd LLC bought a new stake in shares of Montage Resources during the 1st quarter worth $100,000. 76.59% of the stock is owned by institutional investors and hedge funds.

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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