We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Montage Resources Guides 2020 Production Volumes Higher
Read MoreHide Full Article
Montage Resources Corporation recently announced an increase in production guidance for 2020 and the June quarter.
Notably, the exploration and production company has returned substantially all its production to sales – as of Jun 1, 2020 – that had been previously curtailed. This development can be attributed to higher cash margins owing to improving oil and NGL prices. The commodity prices are rising since there has been a gradual reopening of economies that will boost fuel demand.
Thus, with the consistent improvement in operational activities along with faster-than-expected return of production to sales, the upstream energy firm has now raised its production guidance for 2020 to 565-585 million cubic feet equivalent per day (MMcfe/D) from the prior 555-575 MMcfe/D. For the June quarter, the company now expects production in the range of 535-555 MMcfe/D, up from the prior guidance of 480-500 MMcfe/D.
Montage Resources added that the latest development reflects its immediate response to the changing business environment amid coronavirus pandemic. Also, the company will continue to be highly responsive and will regulate its production volumes with changing commodity prices. The explorer believes that with the immediate return of the previously-curtailed condensate production to sales, the company will be able to safeguard its balance sheet and cashflow.
Based in Irving, TX, Montage Resources currently carries a Zacks Rank #3 (Hold). Meanwhile, a few better-ranked players in the energy sector are Murphy USA Inc (MUSA - Free Report) , Key Energy Services, Inc. (KEGX - Free Report) and CNX Resources Corporation (CNX - Free Report) . While Murphy and Key Energy sport a Zacks Rank #1 (Strong Buy), CNX Resources carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Murphy USA is likely to see earnings growth of 7% in the next five years.
Key Energy is expected to witness bottom-line growth of 97.2% in 2020.
CNX Resources has witnessed upward estimate revisions for 2020 bottom line in the past 60 days.
Zacks Top 10 Stocks for 2020
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Image: Bigstock
Montage Resources Guides 2020 Production Volumes Higher
Montage Resources Corporation recently announced an increase in production guidance for 2020 and the June quarter.
Notably, the exploration and production company has returned substantially all its production to sales – as of Jun 1, 2020 – that had been previously curtailed. This development can be attributed to higher cash margins owing to improving oil and NGL prices. The commodity prices are rising since there has been a gradual reopening of economies that will boost fuel demand.
Thus, with the consistent improvement in operational activities along with faster-than-expected return of production to sales, the upstream energy firm has now raised its production guidance for 2020 to 565-585 million cubic feet equivalent per day (MMcfe/D) from the prior 555-575 MMcfe/D. For the June quarter, the company now expects production in the range of 535-555 MMcfe/D, up from the prior guidance of 480-500 MMcfe/D.
Montage Resources added that the latest development reflects its immediate response to the changing business environment amid coronavirus pandemic. Also, the company will continue to be highly responsive and will regulate its production volumes with changing commodity prices. The explorer believes that with the immediate return of the previously-curtailed condensate production to sales, the company will be able to safeguard its balance sheet and cashflow.
Montage Resources Corporation Price
Montage Resources Corporation price | Montage Resources Corporation Quote
Based in Irving, TX, Montage Resources currently carries a Zacks Rank #3 (Hold). Meanwhile, a few better-ranked players in the energy sector are Murphy USA Inc (MUSA - Free Report) , Key Energy Services, Inc. (KEGX - Free Report) and CNX Resources Corporation (CNX - Free Report) . While Murphy and Key Energy sport a Zacks Rank #1 (Strong Buy), CNX Resources carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Murphy USA is likely to see earnings growth of 7% in the next five years.
Key Energy is expected to witness bottom-line growth of 97.2% in 2020.
CNX Resources has witnessed upward estimate revisions for 2020 bottom line in the past 60 days.
Zacks Top 10 Stocks for 2020
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2020 today >>