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

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Montage Resources (NYSE:MR) had its price objective cut by Imperial Capital from $9.00 to $6.00 in a research report sent to investors 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’ Q2 2019 earnings at ($0.11) EPS, Q3 2019 earnings at ($0.10) EPS, Q4 2019 earnings at $0.77 EPS, FY2019 earnings at $0.98 EPS, Q1 2020 earnings at $0.91 EPS, Q2 2020 earnings at $0.55 EPS, Q3 2020 earnings at $0.54 EPS, Q4 2020 earnings at $0.92 EPS and FY2020 earnings at $2.92 EPS.

MR has been the subject of several other reports. Capital One Financial raised Realty Income from an underweight rating to an equal weight rating in a report on Wednesday, May 8th. Zacks Investment Research downgraded GENEL ENERGY PL/ADR from a hold rating to a sell rating in a report on Thursday, July 4th. Finally, ValuEngine downgraded Ultrapar Participacoes from a sell rating to a strong sell rating in a research note on Thursday, April 25th.

Montage Resources stock opened at $5.09 on Wednesday. Montage Resources has a fifty-two week low of $5.01 and a fifty-two week high of $27.15. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The stock has a market cap of $181.29 million, a P/E ratio of 5.66 and a beta of 1.75. The firm has a 50-day moving average price of $6.67.

Montage Resources (NYSE:MR) last posted its earnings results on Tuesday, May 7th. The medical instruments supplier reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.91. Montage Resources had a return on equity of 8.73% and a net margin of 1.35%. The business had revenue of $141.50 million during the quarter, compared to the consensus estimate of $125.10 million. Sell-side analysts forecast that Montage Resources will post 0.98 earnings per share for the current year.

In related news, COO Oleg E. Tolmachev acquired 2,400 shares of Montage Resources stock in a transaction on Wednesday, May 15th. The stock was purchased at an average cost of $10.45 per share, with a total value of $25,080.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO John K. Reinhart acquired 5,050 shares of Montage Resources stock in a transaction on Friday, May 17th. The shares were bought at an average cost of $9.90 per share, with a total value of $49,995.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 8,450 shares of company stock valued at $85,035. 1.01% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of MR. Prime Capital Investment Advisors LLC purchased a new stake in shares of Montage Resources during the 1st quarter worth approximately $160,000. Sanders Morris Harris LLC purchased a new stake in shares of Montage Resources during the 1st quarter worth approximately $5,641,000. Quantamental Technologies LLC purchased a new stake in Montage Resources during the 1st quarter valued at $27,000. Kayne Anderson Capital Advisors LP purchased a new stake in Montage Resources during the 1st quarter valued at $6,670,000. Finally, Boston Partners purchased a new stake in Montage Resources during the 1st quarter valued at $1,679,000. 75.09% of the stock is owned by hedge funds and other institutional investors.

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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