Zacks Investment Research Upgrades Montage Resources (NYSE:MR) to “Hold”

Zacks Investment Research upgraded shares of Montage Resources (NYSE:MR) from a strong sell rating to a hold rating in a research report sent to investors on Friday morning, Zacks.com reports.

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. “

A number of other brokerages have also commented on MR. Capital One Financial upgraded shares of Montage Resources from an equal weight rating to an overweight rating and set a $10.00 price target on the stock in a report on Friday, November 8th. Imperial Capital upgraded shares of Montage Resources from an in-line rating to an outperform rating and lifted their price target for the stock from $5.00 to $7.00 in a report on Monday, November 11th. ValuEngine lowered shares of Montage Resources from a hold rating to a sell rating in a report on Friday, November 1st. TheStreet upgraded shares of Montage Resources from a d+ rating to a c- rating in a report on Friday, November 8th. Finally, Royal Bank of Canada set a $17.00 price target on shares of Montage Resources and gave the stock a buy rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Montage Resources presently has an average rating of Hold and an average target price of $9.81.

Montage Resources stock traded up $0.27 during mid-day trading on Friday, reaching $5.93. The company had a trading volume of 532,900 shares, compared to its average volume of 755,226. Montage Resources has a fifty-two week low of $2.59 and a fifty-two week high of $19.80. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.67. The company has a market cap of $207.70 million, a P/E ratio of 6.45 and a beta of 1.87. The business has a fifty day simple moving average of $4.15 and a 200 day simple moving average of $4.97.

Large investors have recently modified their holdings of the company. HPS Investment Partners LLC acquired a new position in Montage Resources in the second quarter valued at $5,611,000. BlackRock Inc. lifted its holdings in Montage Resources by 142.4% in the second quarter. BlackRock Inc. now owns 1,294,257 shares of the medical instruments supplier’s stock valued at $7,894,000 after buying an additional 760,351 shares during the period. Raging Capital Management LLC lifted its holdings in Montage Resources by 56.4% in the second quarter. Raging Capital Management LLC now owns 1,506,259 shares of the medical instruments supplier’s stock valued at $9,188,000 after buying an additional 543,441 shares during the period. JPMorgan Chase & Co. lifted its holdings in Montage Resources by 36,247.0% in the second quarter. JPMorgan Chase & Co. now owns 520,125 shares of the medical instruments supplier’s stock valued at $3,131,000 after buying an additional 518,694 shares during the period. Finally, Marshall Wace LLP lifted its holdings in Montage Resources by 2,789.6% in the second quarter. Marshall Wace LLP now owns 339,992 shares of the medical instruments supplier’s stock valued at $2,074,000 after buying an additional 328,226 shares during the period. Institutional investors own 76.78% of the company’s stock.

Montage Resources Company Profile

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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