Zacks Investment Research upgraded shares of Montage Resources (NYSE:MR) from a hold rating to a strong-buy rating in a report issued on Wednesday morning, Zacks.com reports. They currently have $5.25 price target on the medical instruments supplier’s stock.

According to Zacks, “Montage Resources Corporation is an exploration and production company. It is principally focused on the Utica and Marcellus Shales of southeast Ohio, West Virginia and North Central Pennsylvania. Montage Resources Corporation, formerly known as Eclipse Resources Corp, is based in IRVING, Texas. “

MR has been the topic of a number of other reports. Imperial Capital cut their price objective on Montage Resources from $9.00 to $6.00 and set an inline rating on the stock in a research note on Wednesday, July 10th. Royal Bank of Canada set a $17.00 price objective on Montage Resources and gave the stock a buy rating in a research note on Friday, August 9th. 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 assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $9.42.

NYSE:MR opened at $4.06 on Wednesday. The stock has a market cap of $144.98 million, a P/E ratio of 4.78 and a beta of 1.75. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.66. The stock’s 50-day moving average is $3.34 and its 200-day moving average is $8.31. Montage Resources has a 1-year low of $2.59 and a 1-year high of $21.75.

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

Institutional investors have recently bought and sold shares of the stock. Marshall Wace North America L.P. acquired a new position in Montage Resources in the first quarter valued at approximately $31,000. Point72 Hong Kong Ltd lifted its stake in Montage Resources by 322.9% in the second quarter. Point72 Hong Kong Ltd now owns 5,003 shares of the medical instruments supplier’s stock valued at $31,000 after buying an additional 3,820 shares during the period. Tower Research Capital LLC TRC acquired a new position in Montage Resources in the second quarter valued at approximately $26,000. Aperio Group LLC acquired a new position in Montage Resources in the second quarter valued at approximately $31,000. Finally, Signaturefd LLC acquired a new position in Montage Resources in the first quarter valued at approximately $100,000. 76.59% of the stock is currently owned by 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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