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

Comstock Resources, Inc. (NYSE:CRK) has been assigned an average rating of “Reduce” from the ten research firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $20.1111.

Several brokerages recently weighed in on CRK. Citigroup reaffirmed a “neutral” rating and issued a $25.00 target price (up previously from $24.00) on shares of Comstock Resources in a report on Wednesday, January 14th. Zacks Research raised Comstock Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Piper Sandler decreased their target price on Comstock Resources from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 18th. UBS Group set a $17.00 price target on Comstock Resources in a report on Friday, February 13th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Comstock Resources in a research report on Monday, December 29th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. State Street Corp boosted its stake in Comstock Resources by 3.7% during the fourth quarter. State Street Corp now owns 4,483,203 shares of the oil and gas producer’s stock valued at $103,921,000 after buying an additional 161,093 shares during the last quarter. Dragoneer Investment Group LLC bought a new position in shares of Comstock Resources during the 4th quarter valued at approximately $99,632,000. Bank of America Corp DE grew its holdings in shares of Comstock Resources by 5.1% in the third quarter. Bank of America Corp DE now owns 1,948,702 shares of the oil and gas producer’s stock valued at $38,643,000 after purchasing an additional 94,856 shares in the last quarter. Woodline Partners LP grew its holdings in shares of Comstock Resources by 50.5% in the third quarter. Woodline Partners LP now owns 1,231,916 shares of the oil and gas producer’s stock valued at $24,429,000 after purchasing an additional 413,611 shares in the last quarter. Finally, Aventail Capital Group LP increased its position in Comstock Resources by 149.9% in the third quarter. Aventail Capital Group LP now owns 1,143,721 shares of the oil and gas producer’s stock worth $22,680,000 after purchasing an additional 686,002 shares during the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Comstock Resources Stock Up 0.2%

CRK stock opened at $18.59 on Friday. The business’s 50-day moving average price is $22.03 and its 200-day moving average price is $20.41. The stock has a market cap of $5.45 billion, a P/E ratio of 13.18 and a beta of 0.39. The company has a quick ratio of 0.41, a current ratio of 0.49 and a debt-to-equity ratio of 0.95. Comstock Resources has a twelve month low of $14.65 and a twelve month high of $31.17.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Wednesday, February 11th. The oil and gas producer reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.05. The business had revenue of $789.81 million for the quarter, compared to the consensus estimate of $504.66 million. Comstock Resources had a net margin of 17.80% and a return on equity of 6.30%. The company’s revenue for the quarter was up 115.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.16 earnings per share. On average, equities research analysts forecast that Comstock Resources will post 0.54 EPS for the current year.

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.