The Goldman Sachs Group Lowers Comstock Resources (NYSE:CRK) Price Target to $10.00

Comstock Resources (NYSE:CRK) had its price objective reduced by investment analysts at The Goldman Sachs Group from $13.00 to $10.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “sell” rating on the oil and gas producer’s stock. The Goldman Sachs Group’s price target suggests a potential downside of 29.65% from the stock’s current price.

A number of other equities analysts also recently weighed in on CRK. Citigroup reissued a “neutral” rating on shares of Comstock Resources in a research note on Wednesday, April 15th. Williams Trading set a $16.00 price target on shares of Comstock Resources in a research report on Thursday, May 14th. UBS Group reiterated a “sell” rating and set a $13.00 price target (down from $17.00) on shares of Comstock Resources in a report on Monday, May 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Comstock Resources in a research report on Wednesday, May 20th. Finally, Mizuho dropped their price objective on Comstock Resources from $25.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. Six analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Comstock Resources presently has an average rating of “Reduce” and an average target price of $16.00.

Comstock Resources Stock Down 0.6%

Comstock Resources stock opened at $14.21 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.41 and a current ratio of 0.41. Comstock Resources has a 52-week low of $12.44 and a 52-week high of $28.40. The firm has a 50 day moving average price of $14.53 and a two-hundred day moving average price of $18.78. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of 6.49 and a beta of 0.13.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). Comstock Resources had a return on equity of 5.54% and a net margin of 27.18%.The firm had revenue of $587.35 million during the quarter, compared to analyst estimates of $554.01 million. During the same quarter last year, the firm posted $0.18 EPS. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. Equities analysts predict that Comstock Resources will post 0.56 EPS for the current year.

Institutional Trading of Comstock Resources

Several hedge funds have recently modified their holdings of CRK. Rothschild Investment LLC increased its stake in Comstock Resources by 740.4% in the fourth quarter. Rothschild Investment LLC now owns 1,143 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 1,007 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Comstock Resources during the 3rd quarter worth about $27,000. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Comstock Resources during the 1st quarter worth about $29,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Comstock Resources in the 4th quarter valued at about $29,000. Finally, Hantz Financial Services Inc. grew its stake in shares of Comstock Resources by 877.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,437 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 1,290 shares during the period. Institutional investors own 36.13% of the company’s stock.

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.