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

Shares of Comstock Resources, Inc. (NYSE:CRK) have received an average recommendation of “Reduce” from the twelve ratings firms that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $15.32.

A number of equities research analysts recently commented on CRK shares. UBS Group began coverage on shares of Comstock Resources in a report on Tuesday, April 22nd. They set a “neutral” rating and a $19.00 price objective on the stock. Morgan Stanley reiterated a “cautious” rating and set a $22.00 target price (up previously from $21.00) on shares of Comstock Resources in a report on Wednesday, March 26th. Mizuho boosted their price target on Comstock Resources from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. Piper Sandler reaffirmed an “underweight” rating and set a $12.00 price objective (up from $6.00) on shares of Comstock Resources in a research report on Tuesday, May 13th. Finally, StockNews.com raised Comstock Resources to a “sell” rating in a research report on Thursday, May 8th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in shares of Comstock Resources by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 13,297,863 shares of the oil and gas producer’s stock worth $242,301,000 after purchasing an additional 227,638 shares in the last quarter. Vanguard Group Inc. raised its position in Comstock Resources by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 9,222,982 shares of the oil and gas producer’s stock worth $168,043,000 after acquiring an additional 126,380 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Comstock Resources by 6.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,505,808 shares of the oil and gas producer’s stock worth $27,436,000 after acquiring an additional 91,988 shares in the last quarter. Invesco Ltd. raised its position in Comstock Resources by 79.9% during the first quarter. Invesco Ltd. now owns 1,155,680 shares of the oil and gas producer’s stock worth $23,507,000 after acquiring an additional 513,190 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Comstock Resources by 67.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,086,868 shares of the oil and gas producer’s stock valued at $22,107,000 after acquiring an additional 437,476 shares during the last quarter. 36.13% of the stock is currently owned by institutional investors.

Comstock Resources Stock Down 2.3%

NYSE:CRK opened at $23.69 on Thursday. Comstock Resources has a 1 year low of $7.74 and a 1 year high of $24.48. The stock has a 50-day moving average price of $20.02 and a two-hundred day moving average price of $18.25. The stock has a market cap of $6.94 billion, a price-to-earnings ratio of -31.17, a PEG ratio of 1.65 and a beta of 0.14. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The business had revenue of $512.85 million during the quarter, compared to analyst estimates of $408.99 million. During the same period in the previous year, the firm earned ($0.03) EPS. Comstock Resources’s quarterly revenue was up 52.7% compared to the same quarter last year. As a group, equities analysts expect that Comstock Resources will post 0.54 earnings per share for the current year.

About Comstock Resources

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. Its assets are located in the Haynesville and Bossier shales located in North Louisiana and East Texas. The company was incorporated in 1919 and is headquartered in Frisco, Texas.