Comstock Resources, Inc. (NYSE:CRK) Given Average Rating of “Reduce” by Analysts

Shares of Comstock Resources, Inc. (NYSE:CRK) have been given an average recommendation of “Reduce” by the twelve research firms that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation and eight have assigned a hold recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $15.80.

A number of brokerages have recently issued reports on CRK. Zacks Research lowered shares of Comstock Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 16th. UBS Group reiterated a “sell” rating on shares of Comstock Resources in a research note on Wednesday. Wall Street Zen downgraded Comstock Resources from a “sell” rating to a “strong sell” rating in a report on Saturday, August 29th. Roth Capital reissued a “neutral” rating and issued a $14.00 price target on shares of Comstock Resources in a research report on Tuesday, September 1st. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Comstock Resources in a research note on Wednesday.

Institutional Trading of Comstock Resources

Several hedge funds have recently modified their holdings of the company. Rothschild Investment LLC grew its position in shares of 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 worth $26,000 after buying an additional 1,007 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in Comstock Resources during the fourth quarter valued at approximately $29,000. Advisory Services Network LLC purchased a new stake in Comstock Resources during the third quarter valued at approximately $27,000. Hantz Financial Services Inc. boosted its stake in Comstock Resources by 877.6% in 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 acquiring an additional 1,290 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in Comstock Resources in the first quarter valued at approximately $29,000. 36.13% of the stock is owned by hedge funds and other institutional investors.

Comstock Resources Stock Down 0.1%

Shares of NYSE:CRK opened at $15.25 on Wednesday. Comstock Resources has a 1 year low of $12.12 and a 1 year high of $28.10. The business has a 50 day simple moving average of $13.86 and a two-hundred day simple moving average of $15.90. The firm has a market capitalization of $4.48 billion, a PE ratio of 8.57 and a beta of 0.14. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.48 and a quick ratio of 0.48.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. Comstock Resources had a return on equity of 4.12% and a net margin of 23.31%.The company had revenue of $353.28 million for the quarter, compared to the consensus estimate of $419.22 million. During the same quarter in the prior year, the company posted $0.13 EPS. Comstock Resources’s quarterly revenue was down 24.9% on a year-over-year basis. On average, equities analysts predict that Comstock Resources will post 0.4 EPS 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.