Montage Resources (NYSE:MR) Stock Price Passes Above 200-Day Moving Average of $4.66

Shares of Montage Resources Corp (NYSE:MR) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.66 and traded as high as $5.20. Montage Resources shares last traded at $4.83, with a volume of 24,277 shares changing hands.

A number of research firms recently weighed in on MR. ValuEngine raised shares of Montage Resources from a “sell” rating to a “hold” rating in a research note on Friday, December 27th. Imperial Capital upgraded Montage Resources from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $5.00 to $7.00 in a research note on Monday, November 11th. TheStreet raised Montage Resources from a “d+” rating to a “c-” rating in a report on Friday, November 8th. Zacks Investment Research downgraded Montage Resources from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. Finally, Scotiabank raised 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $9.45.

The company has a debt-to-equity ratio of 0.67, a current ratio of 0.49 and a quick ratio of 0.49. The stock’s 50-day simple moving average is $6.68 and its 200 day simple moving average is $4.66.

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

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Montage Resources by 142.4% in the 2nd 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 last quarter. Marshall Wace LLP raised its stake in Montage Resources by 2,789.6% during the 2nd quarter. Marshall Wace LLP now owns 339,992 shares of the medical instruments supplier’s stock worth $2,074,000 after buying an additional 328,226 shares during the period. Sanders Morris Harris LLC raised its stake in Montage Resources by 478.9% during the 4th quarter. Sanders Morris Harris LLC now owns 375,668 shares of the medical instruments supplier’s stock worth $5,650,000 after buying an additional 310,773 shares during the period. D. E. Shaw & Co. Inc. raised its stake in Montage Resources by 171.6% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 275,148 shares of the medical instruments supplier’s stock worth $1,678,000 after buying an additional 173,857 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Montage Resources by 38.3% during the second quarter. Vanguard Group Inc. now owns 593,426 shares of the medical instruments supplier’s stock worth $3,620,000 after acquiring an additional 164,379 shares in the last quarter. Institutional investors own 79.14% of the company’s stock.

Montage Resources Company Profile (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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