Montage Resources (NYSE:MR) Price Target Lowered to $6.00 at Imperial Capital

Montage Resources (NYSE:MR) had its price target cut by Imperial Capital from $9.00 to $6.00 in a research note released on Wednesday morning, Briefing.com Automated Import reports. They currently have an inline rating on the medical instruments supplier’s stock. Imperial Capital also issued estimates for Montage Resources’ Q1 2020 earnings at $0.91 EPS, Q2 2020 earnings at $0.55 EPS, Q3 2020 earnings at $0.54 EPS and Q4 2020 earnings at $0.92 EPS.

A number of other equities research analysts have also recently weighed in on MR. ValuEngine cut shares of Ultrapar Participacoes from a sell rating to a strong sell rating in a research note on Thursday, April 25th. Zacks Investment Research cut shares of GENEL ENERGY PL/ADR from a hold rating to a sell rating in a research note on Thursday, July 4th. Finally, Capital One Financial upgraded shares of Realty Income from an underweight rating to an equal weight rating in a research note on Wednesday, May 8th.

Shares of MR traded down $0.34 during midday trading on Wednesday, hitting $5.09. 347,600 shares of the stock traded hands, compared to its average volume of 218,626. Montage Resources has a 1-year low of $5.01 and a 1-year high of $27.15. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The company’s 50 day simple moving average is $6.75.

Montage Resources (NYSE:MR) last announced its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.91. Montage Resources had a net margin of 1.35% and a return on equity of 8.73%. The company had revenue of $141.50 million during the quarter, compared to the consensus estimate of $125.10 million. Analysts predict that Montage Resources will post 0.89 EPS for the current year.

In related news, COO Oleg E. Tolmachev acquired 2,400 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were acquired at an average cost of $10.45 per share, for a total transaction of $25,080.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John K. Reinhart acquired 5,050 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were bought at an average price of $9.90 per share, for a total transaction of $49,995.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 8,450 shares of company stock worth $85,035. Company insiders own 1.01% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Quantamental Technologies LLC bought a new stake in Montage Resources in the first quarter worth about $27,000. Marshall Wace North America L.P. bought a new stake in Montage Resources in the first quarter worth about $31,000. Signaturefd LLC bought a new stake in Montage Resources in the first quarter worth about $100,000. Prime Capital Investment Advisors LLC bought a new stake in Montage Resources in the first quarter worth about $160,000. Finally, Marshall Wace LLP bought a new stake in Montage Resources in the first quarter worth about $177,000. Hedge funds and other institutional investors own 75.09% of the company’s stock.

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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