Analysts Set Comstock Resources, Inc. (NYSE:CRK) PT at $15.22

Shares of Comstock Resources, Inc. (NYSE:CRK) have been assigned an average rating of “Reduce” from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $15.00.

A number of analysts recently commented on CRK shares. UBS Group restated a “sell” rating and set a $13.00 price target (down from $17.00) on shares of Comstock Resources in a research note on Monday, May 11th. Wall Street Zen lowered Comstock Resources from a “sell” rating to a “strong sell” rating in a report on Sunday. Williams Trading set a $16.00 price target on Comstock Resources in a research report on Thursday, May 14th. Citigroup decreased their price objective on Comstock Resources from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, July 20th. Finally, Zacks Research cut Comstock Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, July 16th.

Institutional Investors Weigh In On Comstock Resources

A number of institutional investors and hedge funds have recently modified their holdings of the company. Rothschild Investment LLC boosted its holdings in Comstock Resources by 740.4% in the 4th 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 during the period. Advisory Services Network LLC bought a new position in shares of Comstock Resources in the third quarter worth $27,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Comstock Resources in the first quarter worth $29,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Comstock Resources in the fourth quarter worth $29,000. Finally, Hantz Financial Services Inc. boosted its stake in Comstock Resources by 877.6% during the fourth 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. 36.13% of the stock is owned by hedge funds and other institutional investors.

Comstock Resources Stock Up 7.3%

CRK stock opened at $14.39 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.48 and a current ratio of 0.48. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 8.08 and a beta of 0.13. Comstock Resources has a fifty-two week low of $12.12 and a fifty-two week high of $28.10. The stock has a fifty day moving average of $13.47 and a 200-day moving average of $16.92.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $353.28 million for the quarter, compared to analysts’ expectations of $419.22 million. Comstock Resources had a return on equity of 4.12% and a net margin of 23.31%.The firm’s quarterly revenue was down 24.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.13 EPS. As a group, equities research analysts predict that Comstock Resources will post 0.48 earnings per share 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.