Comstock Resources, Inc. (NYSE:CRK) Receives $20.88 Consensus PT from Brokerages

Shares of Comstock Resources, Inc. (NYSE:CRK) have been given a consensus recommendation of “Reduce” by the ten research firms that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $20.8750.

Several equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Comstock Resources in a research report on Monday, December 29th. Citigroup lifted their target price on shares of Comstock Resources from $23.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, March 31st. Wall Street Zen lowered shares of Comstock Resources from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Morgan Stanley set a $19.00 target price on shares of Comstock Resources in a research report on Friday, February 13th. Finally, UBS Group set a $17.00 target price on shares of Comstock Resources in a research report on Friday, February 13th.

Comstock Resources Trading Down 0.4%

Shares of Comstock Resources stock opened at $19.27 on Friday. Comstock Resources has a 1 year low of $14.65 and a 1 year high of $31.17. The firm has a market cap of $5.66 billion, a PE ratio of 13.66 and a beta of 0.39. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.49 and a quick ratio of 0.49. The company has a 50 day simple moving average of $20.59 and a two-hundred day simple moving average of $21.51.

Comstock Resources (NYSE:CRK) last announced its earnings results on Wednesday, February 11th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.05. Comstock Resources had a net margin of 17.80% and a return on equity of 6.30%. The business had revenue of $787.32 million during the quarter, compared to analyst estimates of $504.66 million. During the same period in the previous year, the business posted $0.16 earnings per share. Comstock Resources’s revenue for the quarter was up 115.5% on a year-over-year basis. Analysts expect that Comstock Resources will post 0.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Comstock Resources

In other news, VP Patrick Mcgough sold 48,915 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $21.20, for a total value of $1,036,998.00. Following the completion of the sale, the vice president directly owned 187,516 shares in the company, valued at approximately $3,975,339.20. The trade was a 20.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Comstock Resources

A number of hedge funds have recently made changes to their positions in CRK. AQR Capital Management LLC bought a new stake in shares of Comstock Resources in the 1st quarter worth approximately $627,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Comstock Resources by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,236 shares of the oil and gas producer’s stock worth $1,124,000 after acquiring an additional 2,697 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Comstock Resources by 67.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,086,868 shares of the oil and gas producer’s stock worth $22,107,000 after acquiring an additional 437,476 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of Comstock Resources by 26.0% in the 1st quarter. Intech Investment Management LLC now owns 65,289 shares of the oil and gas producer’s stock worth $1,328,000 after acquiring an additional 13,485 shares during the last quarter. Finally, Creative Planning lifted its holdings in shares of Comstock Resources by 24.2% in the 2nd quarter. Creative Planning now owns 18,083 shares of the oil and gas producer’s stock worth $500,000 after acquiring an additional 3,519 shares during the last quarter. 36.13% of the stock is currently owned by 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.