Montage Resources (MR) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Montage Resources (NYSE:MR) from a hold rating to a buy rating in a report issued on Friday, Zacks.com reports. The firm currently has $12.00 target price 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. “

Several other analysts have also recently commented on the stock. ValuEngine cut shares of Montage Resources from a hold rating to a sell rating in a research note on Monday, April 1st. Capital One Financial upgraded shares of Montage Resources from an underweight rating to an equal weight rating in a research note on Wednesday, May 8th.

Shares of NYSE:MR opened at $10.18 on Friday. The firm has a market cap of $362.58 million, a P/E ratio of 11.32 and a beta of 1.88. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. Montage Resources has a 1-year low of $9.44 and a 1-year high of $29.40.

Montage Resources (NYSE:MR) last issued its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.91. The firm had revenue of $141.50 million during the quarter, compared to analysts’ expectations of $125.10 million. Montage Resources had a net margin of 1.35% and a return on equity of 8.73%. As a group, research analysts expect that Montage Resources will post 3.66 earnings per share for the current fiscal year.

In other news, COO Oleg E. Tolmachev bought 2,400 shares of Montage Resources stock in a transaction dated Wednesday, May 15th. The stock was bought at an average price of $10.45 per share, for a total transaction of $25,080.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.01% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in MR. Quantamental Technologies LLC acquired a new stake in shares of Montage Resources in the first quarter valued at about $27,000. Marshall Wace North America L.P. acquired a new stake in shares of Montage Resources in the first quarter valued at about $31,000. American International Group Inc. acquired a new stake in shares of Montage Resources in the first quarter valued at about $56,000. Signaturefd LLC acquired a new stake in shares of Montage Resources in the first quarter valued at about $100,000. Finally, California State Teachers Retirement System acquired a new stake in shares of Montage Resources in the first quarter valued at about $135,000.

About Montage Resources

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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