Montage Resources Corp (NYSE:MR) Receives $10.50 Consensus Target Price from Brokerages

Shares of Montage Resources Corp (NYSE:MR) have earned an average recommendation of “Buy” from the seven analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $10.50.

Several research firms recently weighed in on MR. ValuEngine lowered shares of Montage Resources from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Capital One Financial upgraded shares of Montage Resources from an “equal weight” rating to an “overweight” rating and set a $10.00 price objective on the stock in a research note on Friday, November 8th. Scotiabank upgraded shares of Montage Resources from a “sector perform” rating to an “outperform” rating and set a $8.00 price target on the stock in a research note on Friday, December 6th. TheStreet upgraded shares of Montage Resources from a “d+” rating to a “c-” rating in a research note on Friday, November 8th. Finally, Zacks Investment Research upgraded shares of Montage Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, November 15th.

Several large investors have recently made changes to their positions in the business. Raging Capital Management LLC increased its stake in shares of Montage Resources by 5.4% in the third quarter. Raging Capital Management LLC now owns 1,587,603 shares of the medical instruments supplier’s stock valued at $6,001,000 after purchasing an additional 81,344 shares during the period. BlackRock Inc. increased its stake in shares of Montage Resources by 142.4% during the second quarter. BlackRock Inc. now owns 1,294,257 shares of the medical instruments supplier’s stock valued at $7,894,000 after acquiring an additional 760,351 shares during the period. HPS Investment Partners LLC acquired a new position in shares of Montage Resources during the second quarter valued at approximately $5,611,000. Vanguard Group Inc. increased its stake in shares of Montage Resources by 38.3% during the second quarter. Vanguard Group Inc. now owns 593,426 shares of the medical instruments supplier’s stock valued at $3,620,000 after acquiring an additional 164,379 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Montage Resources by 36,247.0% during the second quarter. JPMorgan Chase & Co. now owns 520,125 shares of the medical instruments supplier’s stock valued at $3,131,000 after acquiring an additional 518,694 shares during the period. Institutional investors own 78.27% of the company’s stock.

MR traded up $0.25 on Friday, hitting $6.74. 433,234 shares of the company’s stock were exchanged, compared to its average volume of 390,624. The firm has a market cap of $227.04 million, a PE ratio of 7.05 and a beta of 1.94. Montage Resources has a twelve month low of $2.59 and a twelve month high of $18.00. The stock has a fifty day moving average of $5.23 and a two-hundred day moving average of $4.54. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.67.

Montage Resources (NYSE:MR) last released its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.35. The firm had revenue of $163.30 million for the quarter, compared to analyst estimates of $159.90 million. Montage Resources had a net margin of 8.58% and a return on equity of 9.65%. On average, analysts predict that Montage Resources will post 1.79 EPS for the current year.

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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