Montage Resources (MR) Announces Quarterly Earnings Results

Montage Resources (NYSE:MR) announced its earnings results on Tuesday, May 7th. The medical instruments supplier reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.91, Fidelity Earnings reports. Montage Resources had a net margin of 1.35% and a return on equity of 8.73%. The business had revenue of $141.50 million for the quarter, compared to analyst estimates of $125.10 million.

Shares of MR stock opened at $8.06 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $307.38 million, a P/E ratio of 9.59 and a beta of 1.88. Montage Resources has a fifty-two week low of $7.99 and a fifty-two week high of $29.40.

Several research firms have recently weighed in on MR. Zacks Investment Research raised shares of Montage Resources from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Friday, May 17th. ValuEngine downgraded shares of Montage Resources from a “hold” rating to a “sell” rating in a research note on Monday, April 1st. Finally, Capital One Financial raised shares of Montage Resources from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, May 8th.

In other news, COO Oleg E. Tolmachev purchased 2,400 shares of the stock in a transaction on Wednesday, May 15th. The stock was bought at an average price of $10.45 per share, for a total transaction of $25,080.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John K. Reinhart acquired 5,050 shares of Montage Resources stock in a transaction dated Friday, May 17th. The shares were bought at an average price of $9.90 per share, with a total value of $49,995.00. The disclosure for this purchase can be found here. Insiders purchased 8,450 shares of company stock valued at $85,035 in the last 90 days. Company insiders own 1.01% of the company’s stock.

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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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Earnings History for Montage Resources (NYSE:MR)

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