Shares of Montage Resources Corp (NYSE:MR) traded down 8.4% on Thursday . The stock traded as low as $8.37 and last traded at $8.93. 536,673 shares changed hands during trading, an increase of 42% from the average session volume of 377,195 shares. The stock had previously closed at $9.75.

Several analysts have weighed in on the company. Zacks Investment Research upgraded 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. Capital One Financial upgraded Montage Resources from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, May 8th. Finally, ValuEngine downgraded Montage Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 25th.

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 company has a market cap of $309.87 million, a price-to-earnings ratio of 11.55 and a beta of 1.88.

Montage Resources (NYSE:MR) last posted its quarterly 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. The business had revenue of $141.50 million for the quarter, compared to the consensus estimate of $125.10 million. Montage Resources had a return on equity of 8.73% and a net margin of 1.35%. Analysts expect that Montage Resources Corp will post 3.66 earnings per share for the current year.

In related news, COO Oleg E. Tolmachev bought 2,400 shares of the stock in a transaction dated Wednesday, May 15th. The shares were purchased at an average price of $10.45 per share, for a total transaction of $25,080.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John K. Reinhart bought 5,050 shares of the stock in a transaction dated Friday, May 17th. The stock was bought at an average price of $9.90 per share, for a total transaction of $49,995.00. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 8,450 shares of company stock worth $85,035. Company insiders own 1.01% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Quantamental Technologies LLC purchased a new stake in shares of Montage Resources in the first quarter worth about $27,000. Marshall Wace North America L.P. acquired a new position in Montage Resources in the 1st quarter worth about $31,000. American International Group Inc. acquired a new position in Montage Resources in the 1st quarter worth about $56,000. Signaturefd LLC acquired a new position in Montage Resources in the 1st quarter worth about $100,000. Finally, California State Teachers Retirement System acquired a new position in Montage Resources in the 1st quarter worth about $135,000.

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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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