Russell Investments Group Ltd. Acquires 6,690 Shares of Montage Resources Corp (NYSE:MR)

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Russell Investments Group Ltd. increased its position in shares of Montage Resources Corp (NYSE:MR) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 267,290 shares of the medical instruments supplier’s stock after acquiring an additional 6,690 shares during the period. Russell Investments Group Ltd. owned approximately 0.75% of Montage Resources worth $1,630,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MR. Axar Capital Management L.P. purchased a new stake in Montage Resources during the 1st quarter valued at $18,755,000. JPMorgan Chase & Co. increased its stake in shares of Montage Resources by 36,247.0% in the 2nd 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 last quarter. Mak Capital One LLC acquired a new stake in shares of Montage Resources during the 1st quarter worth about $6,312,000. Wells Fargo & Company MN increased its position in shares of Montage Resources by 34.9% during the 2nd quarter. Wells Fargo & Company MN now owns 296,354 shares of the medical instruments supplier’s stock worth $1,808,000 after purchasing an additional 76,622 shares during the last quarter. Finally, Barings LLC acquired a new stake in shares of Montage Resources during the 1st quarter worth about $1,337,000. 76.59% of the stock is currently owned by institutional investors and hedge funds.

Shares of Montage Resources stock traded up $0.09 on Friday, reaching $4.19. 128,934 shares of the company were exchanged, compared to its average volume of 701,618. 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 company’s 50-day moving average is $3.33 and its two-hundred day moving average is $8.37. The firm has a market cap of $160.67 million, a price-to-earnings ratio of 5.00 and a beta of 1.75. Montage Resources Corp has a 1-year low of $2.59 and a 1-year high of $21.75.

Montage Resources (NYSE:MR) last posted its earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.41 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.44. Montage Resources had a return on equity of 9.50% and a net margin of 9.01%. The firm had revenue of $155.54 million for the quarter, compared to analysts’ expectations of $145.23 million. As a group, sell-side analysts forecast that Montage Resources Corp will post 1.65 earnings per share for the current year.

MR has been the subject of several recent research reports. Royal Bank of Canada set a $17.00 price objective on Montage Resources and gave the company a “buy” rating in a research note on Friday, August 9th. Imperial Capital cut their price target on Montage Resources from $9.00 to $6.00 and set an “inline” rating on the stock in a research report on Wednesday, July 10th. Finally, Zacks Investment Research raised Montage Resources from a “hold” rating to a “strong-buy” rating and set a $5.25 target price on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $9.42.

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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Institutional Ownership by Quarter for Montage Resources (NYSE:MR)

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