Montage Resources (NYSE:MR) was upgraded by Capital One Financial from an “equal weight” rating to an “overweight” rating in a report issued on Friday, MarketBeat reports. The firm currently has a $10.00 price objective on the medical instruments supplier’s stock. Capital One Financial‘s target price would suggest a potential upside of 73.31% from the company’s current price.
Several other equities research analysts also recently commented on the stock. Royal Bank of Canada set a $17.00 target price on shares of Montage Resources and gave the company a “buy” rating in a research note on Friday, August 9th. ValuEngine downgraded shares of Montage Resources from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Finally, Zacks Investment Research downgraded shares of Montage Resources from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $9.56.
Shares of NYSE:MR traded up $0.95 on Friday, hitting $5.77. The stock had a trading volume of 2,035,600 shares, compared to its average volume of 366,910. Montage Resources has a twelve month low of $2.59 and a twelve month high of $20.55. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.49 and a current ratio of 0.49. The firm’s 50 day moving average price is $3.93 and its 200-day moving average price is $5.10. The company has a market capitalization of $171.74 million, a price-to-earnings ratio of 5.35 and a beta of 1.87.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Paloma Partners Management Co acquired a new position in Montage Resources during the 2nd quarter worth about $352,000. UBS Asset Management Americas Inc. acquired a new position in Montage Resources during the 2nd quarter worth about $61,000. JPMorgan Chase & Co. lifted its position in Montage Resources by 36,247.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 520,125 shares of the medical instruments supplier’s stock valued at $3,131,000 after purchasing an additional 518,694 shares during the period. Alambic Investment Management L.P. acquired a new position in Montage Resources during the 2nd quarter valued at about $1,268,000. Finally, Aperio Group LLC acquired a new position in Montage Resources during the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 76.68% 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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