Montage Resources (NYSE:MR) Stock Price Down 11.8%

Shares of Montage Resources Corp (NYSE:MR) fell 11.8% during mid-day trading on Monday . The stock traded as low as $5.15 and last traded at $5.23, 1,107,600 shares changed hands during mid-day trading. An increase of 189% from the average session volume of 383,421 shares. The stock had previously closed at $5.93.

Several research firms have recently issued reports on MR. Imperial Capital raised Montage Resources from an “in-line” rating to an “outperform” rating and upped their target price for the company from $5.00 to $7.00 in a report on Monday, November 11th. Zacks Investment Research raised Montage Resources from a “strong sell” rating to a “hold” rating in a report on Friday. Royal Bank of Canada set a $17.00 target price on Montage Resources and gave the company a “buy” rating in a report on Friday, August 9th. TheStreet raised Montage Resources from a “d+” rating to a “c-” rating in a report on Friday, November 8th. Finally, ValuEngine lowered Montage Resources from a “hold” rating to a “sell” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $9.81.

The firm has a fifty day simple moving average of $4.27 and a two-hundred day simple moving average of $4.90. The firm has a market capitalization of $201.97 million, a P/E ratio of 6.29 and a beta of 1.87. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.49 and a quick ratio of 0.49.

A number of hedge funds and other institutional investors have recently made changes to their positions in MR. HPS Investment Partners LLC bought a new position in shares of Montage Resources in the second quarter worth $5,611,000. BlackRock Inc. boosted its holdings in shares of Montage Resources by 142.4% in the second quarter. BlackRock Inc. now owns 1,294,257 shares of the medical instruments supplier’s stock worth $7,894,000 after acquiring an additional 760,351 shares during the period. Raging Capital Management LLC boosted its holdings in shares of 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 worth $9,188,000 after acquiring an additional 543,441 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of 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 worth $3,131,000 after acquiring an additional 518,694 shares during the period. Finally, Marshall Wace LLP boosted its holdings in shares of 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 worth $2,074,000 after acquiring an additional 328,226 shares during the period. 77.66% of the stock is owned by institutional investors and hedge funds.

About Montage Resources (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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