Comstock Resources (NYSE:CRK) Upgraded at Zacks Research

Zacks Research upgraded shares of Comstock Resources (NYSE:CRK) from a strong sell rating to a hold rating in a report published on Wednesday,Zacks.com reports.

Several other brokerages have also issued reports on CRK. UBS Group raised their target price on Comstock Resources from $14.00 to $16.00 and gave the company a “sell” rating in a research report on Thursday, November 6th. Weiss Ratings upgraded shares of Comstock Resources from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, November 7th. Roth Capital downgraded shares of Comstock Resources from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $18.00 to $12.00 in a report on Monday, August 18th. Mizuho set a $21.00 price objective on shares of Comstock Resources and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Finally, Morgan Stanley dropped their target price on shares of Comstock Resources from $21.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Monday, August 4th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $19.70.

Comstock Resources Price Performance

Comstock Resources stock opened at $25.28 on Wednesday. Comstock Resources has a 52 week low of $13.20 and a 52 week high of $31.17. The company’s 50 day moving average price is $19.31 and its two-hundred day moving average price is $20.82. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.24. The stock has a market cap of $7.41 billion, a P/E ratio of -105.31 and a beta of 0.24.

Comstock Resources (NYSE:CRK) last released its earnings results on Monday, November 3rd. The oil and gas producer reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.05. The company had revenue of $449.85 million during the quarter, compared to analyst estimates of $433.54 million. Comstock Resources had a positive return on equity of 3.65% and a negative net margin of 5.05%.Comstock Resources’s quarterly revenue was up 47.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.17) earnings per share. On average, equities analysts predict that Comstock Resources will post 0.54 earnings per share for the current year.

Hedge Funds Weigh In On Comstock Resources

Several large investors have recently modified their holdings of the business. Teacher Retirement System of Texas purchased a new stake in shares of Comstock Resources during the 1st quarter valued at approximately $261,000. Nisa Investment Advisors LLC raised its holdings in Comstock Resources by 129.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer’s stock valued at $42,000 after acquiring an additional 1,170 shares during the period. New York State Common Retirement Fund purchased a new stake in shares of Comstock Resources during the first quarter worth $1,815,000. Victory Capital Management Inc. boosted its holdings in shares of Comstock Resources by 645.5% in the first quarter. Victory Capital Management Inc. now owns 120,928 shares of the oil and gas producer’s stock worth $2,460,000 after acquiring an additional 104,706 shares during the period. Finally, Forum Financial Management LP boosted its holdings in shares of Comstock Resources by 25.1% in the first quarter. Forum Financial Management LP now owns 12,775 shares of the oil and gas producer’s stock worth $260,000 after acquiring an additional 2,561 shares during the period. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Comstock Resources Company Profile

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.