Wall Street Zen Upgrades Comstock Resources (NYSE:CRK) to “Sell”

Comstock Resources (NYSE:CRK) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a note issued to investors on Saturday.

Several other equities analysts have also recently weighed in on CRK. Morgan Stanley set a $16.00 price target on Comstock Resources and gave the company an “equal weight” rating in a research report on Monday, June 29th. Williams Trading set a $16.00 price objective on Comstock Resources in a report on Thursday, May 14th. UBS Group restated a “sell” rating and issued a $13.00 target price (down from $17.00) on shares of Comstock Resources in a research note on Monday, May 11th. Zacks Research lowered Comstock Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, July 16th. Finally, Citigroup decreased their price target on Comstock Resources from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, July 20th. Six equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, Comstock Resources currently has a consensus rating of “Reduce” and an average price target of $15.22.

Comstock Resources Stock Down 0.3%

CRK opened at $13.22 on Friday. The company has a 50 day moving average of $13.47 and a 200 day moving average of $17.27. The company has a market cap of $3.88 billion, a PE ratio of 7.43 and a beta of 0.13. Comstock Resources has a 12 month low of $12.12 and a 12 month high of $28.10. 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 released its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Comstock Resources had a net margin of 23.31% and a return on equity of 4.12%. The business had revenue of $353.28 million during the quarter, compared to analyst estimates of $419.22 million. During the same period in the previous year, the business earned $0.13 EPS. Comstock Resources’s revenue was down 24.9% compared to the same quarter last year. On average, sell-side analysts expect that Comstock Resources will post 0.5 EPS for the current year.

Institutional Investors Weigh In On Comstock Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the business. CreativeOne Wealth LLC grew its position in Comstock Resources by 3.7% during the third quarter. CreativeOne Wealth LLC now owns 13,931 shares of the oil and gas producer’s stock worth $276,000 after buying an additional 500 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of 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 acquiring an additional 572 shares in the last quarter. Carrera Capital Advisors boosted its position in shares of 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 acquiring an additional 606 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Comstock Resources by 14.2% during the 4th quarter. Farther Finance Advisors LLC now owns 6,435 shares of the oil and gas producer’s stock valued at $149,000 after acquiring an additional 802 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Comstock Resources by 27.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,942 shares of the oil and gas producer’s stock worth $94,000 after purchasing an additional 857 shares in the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.

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.