Montage Resources (NYSE:MR) Trading Down 6.8%

Montage Resources Corp (NYSE:MR)’s stock price was down 6.8% during trading on Wednesday . The stock traded as low as $3.06 and last traded at $3.23, approximately 431,037 shares were traded during mid-day trading. An increase of 56% from the average daily volume of 275,996 shares. The stock had previously closed at $3.46.

Several equities research analysts have recently commented on MR shares. Royal Bank of Canada set a $17.00 price objective on Montage Resources and gave the stock a “buy” rating in a research note on Friday, August 9th. Capital One Financial upgraded Montage Resources from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, May 8th. ValuEngine lowered Montage Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 25th. Zacks Investment Research lowered Montage Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Finally, Imperial Capital cut their price target on Montage Resources from $9.00 to $6.00 and set an “inline” rating for the company in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. Montage Resources has a consensus rating of “Hold” and a consensus target price of $8.83.

The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The stock has a 50 day simple moving average of $4.32.

Montage Resources (NYSE:MR) last issued its quarterly earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.44. Montage Resources had a return on equity of 10.17% and a net margin of 9.01%. The business had revenue of $155.54 million during the quarter, compared to analyst estimates of $145.23 million. Analysts expect that Montage Resources Corp will post 0.81 earnings per share for the current year.

In other Montage Resources news, CEO John K. Reinhart purchased 5,050 shares of the business’s stock in a transaction on Friday, May 17th. The stock was acquired at an average price of $9.90 per share, for a total transaction of $49,995.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.01% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Quantamental Technologies LLC purchased a new position in shares of Montage Resources during the first quarter valued at about $27,000. Marshall Wace North America L.P. purchased a new position in shares of Montage Resources during the first quarter valued at about $31,000. Point72 Hong Kong Ltd grew its position in shares of Montage Resources by 322.9% during 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. Tower Research Capital LLC TRC purchased a new position in shares of Montage Resources during the second quarter valued at about $26,000. Finally, Aperio Group LLC purchased a new position in shares of Montage Resources during the second quarter valued at about $31,000. Hedge funds and other institutional investors own 71.03% 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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