Comstock Resources (NYSE:CRK) Stock Rating Upgraded by Wall Street Zen

Comstock Resources (NYSE:CRK) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report released on Monday.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Comstock Resources in a report on Wednesday, May 20th. 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. Roth Capital reiterated a “neutral” rating on shares of Comstock Resources in a research report on Thursday, July 30th. UBS Group reiterated a “sell” rating and set a $13.00 price objective (down from $17.00) on shares of Comstock Resources in a research note on Monday, May 11th. Finally, Morgan Stanley set a $16.00 price objective on Comstock Resources and gave the stock an “equal weight” rating in a report on Monday, June 29th. Six investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Comstock Resources has an average rating of “Reduce” and a consensus target price of $15.00.

Comstock Resources Price Performance

NYSE CRK opened at $13.68 on Monday. The company has a market cap of $4.02 billion, a PE ratio of 7.68 and a beta of 0.13. Comstock Resources has a 52 week low of $12.12 and a 52 week high of $28.10. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.98. The firm’s 50-day simple moving average is $13.55 and its two-hundred day simple moving average is $16.50.

Comstock Resources (NYSE:CRK) last issued its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.03 earnings per share for the quarter, topping 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 firm had revenue of $353.28 million during the quarter, compared to analyst estimates of $419.22 million. During the same quarter last year, the business earned $0.13 earnings per share. The company’s quarterly revenue was down 24.9% on a year-over-year basis. Research analysts predict that Comstock Resources will post 0.48 earnings per share for the current year.

Institutional Trading of Comstock Resources

Institutional investors have recently added to or reduced their stakes in the business. Beacon Pointe Advisors LLC purchased a new position in shares of Comstock Resources in the second quarter worth about $243,000. Empowered Funds LLC purchased a new stake in Comstock Resources during the 2nd quarter valued at about $1,833,000. Public Employees Retirement System of Ohio purchased a new stake in Comstock Resources during the 2nd quarter valued at about $26,000. Bank of America Corp DE bought a new position in Comstock Resources during the 2nd quarter worth approximately $7,487,000. Finally, Freestone Grove Partners LP bought a new position in Comstock Resources during the 2nd quarter worth approximately $322,000. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

About Comstock Resources

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.