Comstock Resources (NYSE:CRK) Stock Price Down 4.2% – Should You Sell?

Shares of Comstock Resources, Inc. (NYSE:CRK) were down 4.2% on Wednesday . The company traded as low as $13.59 and last traded at $13.7050. Approximately 249,936 shares changed hands during trading, a decline of 90% from the average daily volume of 2,513,051 shares. The stock had previously closed at $14.31.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CRK shares. Citigroup cut their price target on Comstock Resources from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, July 20th. UBS Group set a $14.00 price objective on Comstock Resources and gave the stock a “sell” rating in a report on Wednesday, September 9th. Roth Capital restated a “neutral” rating and set a $14.00 price objective on shares of Comstock Resources in a research report on Tuesday, September 1st. Cantor Fitzgerald restated a “neutral” rating on shares of Comstock Resources in a research note on Wednesday, September 2nd. Finally, Mizuho raised their target price on Comstock Resources from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 1st. Eight equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $15.90.

Comstock Resources Stock Down 6.4%

The business has a 50-day simple moving average of $13.90 and a two-hundred day simple moving average of $15.70. The stock has a market capitalization of $3.93 billion, a P/E ratio of 7.50 and a beta of 0.14. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.98.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Comstock Resources had a return on equity of 4.12% and a net margin of 23.31%.The company had revenue of $353.28 million during the quarter, compared to analysts’ expectations of $419.22 million. During the same period last year, the business earned $0.13 earnings per share. The business’s revenue was down 24.9% on a year-over-year basis. Equities research analysts forecast that Comstock Resources, Inc. will post 0.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Comstock Resources

Several institutional investors have recently added to or reduced their stakes in the company. Rothschild Investment LLC grew its stake 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 buying an additional 1,007 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of Comstock Resources by 877.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,437 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 1,290 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Comstock Resources in the 1st quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Comstock Resources in the 4th quarter worth approximately $36,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Comstock Resources during the 2nd quarter worth approximately $26,000. 36.13% of the stock is owned by institutional investors.

About Comstock Resources

Comstock Resources, Inc is an independent exploration and production company focused on finding, developing, acquiring and producing oil and natural gas in the United States. Its operations are primarily centered on natural gas and natural gas liquids, with production sold to commercial customers, utilities, marketers and other participants in energy markets.

The company’s principal assets are located in the Haynesville and Bossier shale plays in North Louisiana and East Texas, one of the largest natural gas-producing regions in the United States.