Comstock Resources, Inc. (NYSE:CRK) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of Comstock Resources, Inc. (NYSE:CRK) have been assigned a consensus recommendation of “Reduce” from the nine brokerages that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $17.00.

Several research firms recently weighed in on CRK. Weiss Ratings reiterated a “hold (c)” rating on shares of Comstock Resources in a research note on Wednesday, May 20th. Wall Street Zen lowered shares of Comstock Resources from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 9th. Williams Trading set a $16.00 price objective on shares of Comstock Resources in a research note on Thursday, May 14th. Morgan Stanley dropped their price objective on shares of Comstock Resources from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Friday, May 22nd. Finally, UBS Group reiterated a “sell” rating and set a $13.00 price objective (down from $17.00) on shares of Comstock Resources in a research note on Monday, May 11th.

Institutional Investors Weigh In On Comstock Resources

Institutional investors and hedge funds have recently bought and sold shares of the business. Rothschild Investment LLC grew its position 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 worth $26,000 after purchasing an additional 1,007 shares during the last quarter. Advisory Services Network LLC bought a new position in Comstock Resources in the 3rd quarter worth about $27,000. Whittier Trust Co. of Nevada Inc. bought a new position in Comstock Resources in the 1st quarter worth about $29,000. Kemnay Advisory Services Inc. bought a new position in Comstock Resources in the 4th quarter worth about $29,000. Finally, Jones Financial Companies Lllp grew its position in Comstock Resources by 671.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,581 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 1,376 shares during the last quarter. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Stock Performance

Shares of Comstock Resources stock opened at $13.48 on Friday. The firm has a market cap of $3.96 billion, a PE ratio of 6.16 and a beta of 0.13. The firm’s 50-day simple moving average is $14.75 and its 200-day simple moving average is $19.12. 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 1 year low of $12.44 and a 1 year high of $29.69.

Comstock Resources (NYSE:CRK) last issued its 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). The company had revenue of $587.35 million during the quarter, compared to analyst estimates of $554.02 million. Comstock Resources had a net margin of 27.18% and a return on equity of 5.54%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 EPS. Equities analysts forecast that Comstock Resources will post 0.56 earnings per share for the current fiscal year.

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.