Comstock Resources, Inc. (NYSE:CRK) Stock Rated “Reduce” by Sell-Side Analysts

Shares of Comstock Resources, Inc. (NYSE:CRK) have been assigned a consensus recommendation of “Reduce” from the fourteen research firms that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation and ten have issued a hold recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $15.75.

Several research analysts have issued reports on CRK shares. Citigroup lowered their price target on shares of Comstock Resources from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, July 20th. Jefferies Financial Group initiated coverage on Comstock Resources in a report on Friday, September 25th. They set a “hold” rating and a $14.00 price target on the stock. Truist Financial initiated coverage on Comstock Resources in a research report on Thursday, September 17th. They issued a “hold” rating and a $16.00 target price for the company. BMO Capital Markets reiterated a “market perform” rating and set a $17.00 price objective (up from $13.00) on shares of Comstock Resources in a research note on Wednesday, September 2nd. Finally, Zacks Research lowered Comstock Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, July 16th.

Institutional Trading of Comstock Resources

Several institutional investors and hedge funds have recently bought and sold shares of CRK. Rothschild Investment LLC increased its position in shares of 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 acquiring an additional 1,007 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in Comstock Resources by 3.2% in the first quarter. Bleakley Financial Group LLC now owns 36,792 shares of the oil and gas producer’s stock valued at $776,000 after purchasing an additional 1,131 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in 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 purchasing an additional 1,290 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in Comstock Resources during the 1st quarter valued at approximately $29,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Comstock Resources during the 4th quarter valued at approximately $36,000. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

Comstock Resources Stock Down 0.3%

Shares of CRK opened at $12.80 on Friday. The company has a market capitalization of $3.76 billion, a PE ratio of 7.19 and a beta of 0.52. Comstock Resources has a 12 month low of $12.12 and a 12 month high of $28.10. The stock’s 50-day moving average price is $13.80 and its two-hundred day moving average price is $15.06. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.98.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.03 earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm posted $0.13 earnings per share. The business’s quarterly revenue was down 24.9% on a year-over-year basis. On average, analysts anticipate that Comstock Resources will post 0.26 EPS for the current year.

About Comstock Resources

Comstock Resources, Inc is an independent energy company engaged in the acquisition, development, exploration and production of oil and natural gas properties. The company is primarily focused on natural gas and operates in the United States.

Comstock’s operations are concentrated in the Haynesville shale, a major natural gas-producing region in East Texas and northern Louisiana. Its activities include drilling and completing horizontal wells, developing natural gas acreage and producing natural gas and related hydrocarbon products for sale to energy markets.

Headquartered in Frisco, Texas, Comstock has developed its business through organic drilling and strategic acquisitions, including the 2018 acquisition of Covey Park Energy, which expanded its position in the Haynesville basin.