Comstock Resources (NYSE:CRK) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen downgraded shares of Comstock Resources (NYSE:CRK) from a sell rating to a strong sell rating in a research note published on Saturday.

A number of other research analysts have also weighed in on the company. Williams Trading set a $16.00 price objective on Comstock Resources in a report on Thursday, May 14th. UBS Group reissued a “sell” rating and issued a $13.00 target price (down from $17.00) on shares of Comstock Resources in a report on Monday, May 11th. The Goldman Sachs Group decreased their target price on shares of Comstock Resources from $13.00 to $10.00 and set a “sell” rating on the stock in a research report on Tuesday, June 30th. Mizuho set a $19.00 price target on shares of Comstock Resources in a research note on Monday, August 10th. Finally, Roth Capital reiterated a “neutral” rating on shares of Comstock Resources in a report on Thursday, July 30th. Six research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Comstock Resources has a consensus rating of “Reduce” and an average price target of $14.89.

Comstock Resources Price Performance

Shares of CRK opened at $14.27 on Friday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.98. The stock’s 50 day moving average is $13.70 and its two-hundred day moving average is $16.09. Comstock Resources has a twelve month low of $12.12 and a twelve month high of $28.10. The firm has a market capitalization of $4.19 billion, a PE ratio of 8.02 and a beta of 0.13.

Comstock Resources (NYSE:CRK) last issued its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $353.28 million during the quarter, compared to the consensus estimate of $419.22 million. Comstock Resources had a return on equity of 4.12% and a net margin of 23.31%.The company’s revenue for the quarter was down 24.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 EPS. Research analysts anticipate that Comstock Resources will post 0.4 earnings per share for the current year.

Hedge Funds Weigh In On Comstock Resources

Several hedge funds have recently bought and sold shares of CRK. 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 worth $26,000 after purchasing an additional 1,007 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Comstock Resources in the 2nd quarter worth about $26,000. Advisory Services Network LLC purchased a new stake in shares of Comstock Resources in the 3rd quarter worth about $27,000. Whittier Trust Co. of Nevada Inc. purchased a new position in Comstock Resources during the 1st quarter valued at about $29,000. Finally, Kemnay Advisory Services Inc. acquired a new position in Comstock Resources during the fourth quarter worth about $29,000. 36.13% of the stock is owned by hedge funds and other institutional investors.

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.