HPS Investment Partners LLC Takes $5.61 Million Position in Montage Resources Corp (NYSE:MR)

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HPS Investment Partners LLC purchased a new stake in shares of Montage Resources Corp (NYSE:MR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 919,864 shares of the medical instruments supplier’s stock, valued at approximately $5,611,000. Montage Resources makes up about 9.1% of HPS Investment Partners LLC’s portfolio, making the stock its 4th largest position. HPS Investment Partners LLC owned about 2.58% of Montage Resources at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MR. Marshall Wace North America L.P. purchased a new stake in Montage Resources in the first quarter valued at approximately $31,000. Tower Research Capital LLC TRC bought a new stake in Montage Resources in the second quarter worth about $26,000. Aperio Group LLC bought a new stake in Montage Resources in the second quarter worth about $31,000. Signaturefd LLC bought a new stake in Montage Resources in the first quarter worth about $100,000. Finally, Virginia Retirement Systems ET AL bought a new stake in Montage Resources in the second quarter worth about $71,000. 76.59% of the stock is owned by hedge funds and other institutional investors.

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

MR opened at $4.10 on Friday. Montage Resources Corp has a twelve month low of $2.59 and a twelve month high of $21.75. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average price of $3.33 and a 200 day moving average price of $8.37. The company has a market cap of $160.67 million, a PE ratio of 5.00 and a beta of 1.75.

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 consensus estimate of ($0.03) by $0.44. Montage Resources had a net margin of 9.01% and a return on equity of 9.50%. The firm had revenue of $155.54 million during the quarter, compared to the consensus estimate of $145.23 million. As a group, sell-side analysts expect that Montage Resources Corp will post 1.65 earnings per share for the current year.

Montage Resources 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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