Comstock Resources, Inc. (NYSE:CRK) Receives Average Recommendation of “Reduce” from Brokerages

Comstock Resources, Inc. (NYSE:CRK) has been assigned a consensus rating of “Reduce” from the ten ratings firms that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $15.2222.

Several equities analysts recently weighed in on the company. Mizuho dropped their price objective on Comstock Resources from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, May 27th. Williams Trading set a $16.00 price target on Comstock Resources in a research report on Thursday, May 14th. Citigroup decreased their price objective on shares of Comstock Resources from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday. UBS Group reissued a “sell” rating and issued a $13.00 price objective (down from $17.00) on shares of Comstock Resources in a research note on Monday, May 11th. Finally, Roth Capital upgraded shares of Comstock Resources from a “sell” rating to a “neutral” rating and set a $13.00 target price for the company in a research report on Friday, July 10th.

Comstock Resources Stock Performance

NYSE CRK opened at $12.88 on Tuesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.41 and a quick ratio of 0.41. Comstock Resources has a 1 year low of $12.44 and a 1 year high of $28.10. The company has a market capitalization of $3.78 billion, a PE ratio of 5.88 and a beta of 0.10. The company has a fifty day moving average of $13.72 and a two-hundred day moving average of $17.86.

Comstock Resources (NYSE:CRK) last posted its earnings results on Tuesday, May 5th. The oil and gas producer reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). Comstock Resources had a return on equity of 5.54% and a net margin of 27.18%.The firm had revenue of $587.35 million for the quarter, compared to analyst estimates of $554.01 million. During the same quarter last year, the firm posted $0.18 EPS. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, analysts expect that Comstock Resources will post 0.49 earnings per share for the current year.

Institutional Investors Weigh In On Comstock Resources

Large investors have recently made changes to their positions in the business. CreativeOne Wealth LLC lifted its stake in Comstock Resources by 3.7% in the third quarter. CreativeOne Wealth LLC now owns 13,931 shares of the oil and gas producer’s stock valued at $276,000 after buying an additional 500 shares during the last quarter. Natixis Advisors LLC lifted its position in Comstock Resources by 2.0% in the 4th quarter. Natixis Advisors LLC now owns 29,703 shares of the oil and gas producer’s stock valued at $689,000 after purchasing an additional 572 shares during the last quarter. Carrera Capital Advisors boosted its stake in Comstock Resources by 0.7% during the 4th quarter. Carrera Capital Advisors now owns 82,910 shares of the oil and gas producer’s stock valued at $1,922,000 after purchasing an additional 606 shares during the period. GAMMA Investing LLC grew its position in Comstock Resources by 12.1% in the 4th quarter. GAMMA Investing LLC now owns 6,303 shares of the oil and gas producer’s stock worth $146,000 after purchasing an additional 679 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of Comstock Resources by 14.2% in the fourth quarter. Farther Finance Advisors LLC now owns 6,435 shares of the oil and gas producer’s stock valued at $149,000 after purchasing an additional 802 shares during the period. Institutional investors and hedge funds own 36.13% of the company’s stock.

About Comstock Resources

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.