Comstock Resources (NYSE:CRK) Reaches New 1-Year Low – Should You Sell?

Comstock Resources, Inc. (NYSE:CRK)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $12.79 and last traded at $12.8160, with a volume of 697933 shares traded. The stock had previously closed at $13.00.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wall Street Zen cut shares of Comstock Resources from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Comstock Resources in a report on Wednesday, May 20th. Mizuho lowered their price objective on Comstock Resources from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, May 27th. UBS Group reaffirmed a “sell” rating and set a $13.00 target price (down from $17.00) on shares of Comstock Resources in a research report on Monday, May 11th. Finally, Citigroup reiterated a “neutral” rating on shares of Comstock Resources in a research note on Wednesday, April 15th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $18.89.

Comstock Resources Stock Up 6.9%

The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 6.15 and a beta of 0.13. The business’s 50-day moving average is $15.98 and its 200-day moving average is $19.98.

Comstock Resources (NYSE:CRK) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). The company had revenue of $587.35 million for the quarter, compared to analysts’ expectations of $554.02 million. Comstock Resources had a net margin of 27.18% and a return on equity of 5.54%. The business’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.18 EPS. As a group, equities analysts predict that Comstock Resources, Inc. will post 0.56 earnings per share for the current year.

Institutional Trading of Comstock Resources

A number of hedge funds have recently added to or reduced their stakes in CRK. Great Hill Capital LLC acquired a new stake in shares of Comstock Resources during the 3rd quarter valued at about $4,075,000. LSP Investment Advisors LLC raised its holdings in Comstock Resources by 33.9% in the 3rd quarter. LSP Investment Advisors LLC now owns 378,900 shares of the oil and gas producer’s stock worth $7,514,000 after purchasing an additional 95,900 shares during the period. GSA Capital Partners LLP purchased a new position in Comstock Resources during the third quarter worth approximately $2,395,000. Aventail Capital Group LP grew its holdings 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 valued at $22,680,000 after purchasing an additional 686,002 shares during the period. Finally, BW Gestao de Investimentos Ltda. acquired a new stake in Comstock Resources in the third quarter valued at approximately $1,144,000. 36.13% of the stock is owned by hedge funds and other institutional investors.

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.