Comstock Resources, Inc. (NYSE:CRK) Given Consensus Rating of “Reduce” by Analysts

Shares of Comstock Resources, Inc. (NYSE:CRK) have been given an average recommendation of “Reduce” by the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $18.8889.

Several brokerages recently issued reports on CRK. Wall Street Zen downgraded Comstock Resources from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 9th. UBS Group reaffirmed a “sell” rating and set a $13.00 target price (down from $17.00) on shares of Comstock Resources in a research note on Monday, May 11th. Mizuho dropped their target price on Comstock Resources from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, May 27th. Morgan Stanley reduced their price target on shares of Comstock Resources from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Friday, May 22nd. Finally, Citigroup restated a “neutral” rating on shares of Comstock Resources in a report on Wednesday, April 15th.

Comstock Resources Price Performance

Shares of NYSE:CRK opened at $13.34 on Monday. The company’s fifty day moving average is $17.20 and its two-hundred day moving average is $20.56. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.96. Comstock Resources has a 12-month low of $12.84 and a 12-month high of $31.17. The company has a market cap of $3.92 billion, a P/E ratio of 6.09 and a beta of 0.13.

Comstock Resources (NYSE:CRK) last issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $0.15 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.08). Comstock Resources had a return on equity of 5.54% and a net margin of 27.18%.The business had revenue of $587.35 million during the quarter, compared to analyst estimates of $554.02 million. During the same period last year, the business earned $0.18 EPS. The business’s quarterly revenue was up 14.5% on a year-over-year basis. Equities analysts expect that Comstock Resources will post 0.64 earnings per share for the current fiscal year.

Insider Transactions at Comstock Resources

In other Comstock Resources news, VP Patrick Mcgough sold 48,915 shares of Comstock Resources stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $21.20, for a total transaction of $1,036,998.00. Following the completion of the sale, the vice president owned 187,516 shares of the company’s stock, valued at $3,975,339.20. This trade represents a 20.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Comstock Resources

Hedge funds have recently modified their holdings of the stock. Rothschild Investment LLC boosted its position in Comstock Resources by 740.4% during the fourth quarter. Rothschild Investment LLC now owns 1,143 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 1,007 shares during the last quarter. Advisory Services Network LLC acquired a new position in Comstock Resources in the 3rd quarter worth about $27,000. Whittier Trust Co. of Nevada Inc. acquired a new position in Comstock Resources in the 1st quarter worth about $29,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Comstock Resources during the 4th quarter worth about $29,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Comstock Resources by 671.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,581 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 1,376 shares in the last quarter. 36.13% of the stock is owned by institutional investors and hedge funds.

Comstock Resources Company Profile

Comstock Resources, Inc is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties in the United States. The company focuses on generating long-term value through the efficient development of unconventional resource plays and conventional prospects. Its activities encompass drilling, completion and production operations, as well as the marketing of natural gas, natural gas liquids and crude oil.

Comstock holds a core position in the Haynesville Shale of Northwest Louisiana, one of the most active natural gas plays in North America, and has built a complementary portfolio in the Delaware Basin of West Texas.