Comstock Resources (NYSE:CRK) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Comstock Resources (NYSE:CRK) from a hold rating to a strong sell rating in a report released on Tuesday morning,Zacks.com reports.

CRK has been the subject of a number of other research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Comstock Resources in a research report on Wednesday, October 8th. Morgan Stanley cut their target price on shares of Comstock Resources from $21.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, August 4th. UBS Group cut their price objective on shares of Comstock Resources from $18.00 to $14.00 and set a “sell” rating for the company in a research report on Wednesday, August 20th. Roth Capital lowered shares of Comstock Resources from a “neutral” rating to a “sell” rating and cut their price objective for the company from $18.00 to $12.00 in a research report on Monday, August 18th. Finally, Mizuho cut their price objective on shares of Comstock Resources from $27.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, September 15th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $19.60.

Comstock Resources Stock Performance

Shares of CRK opened at $17.67 on Tuesday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.24. The stock has a market cap of $5.18 billion, a P/E ratio of -73.62 and a beta of 0.19. The company has a 50-day moving average of $17.41 and a two-hundred day moving average of $20.61. Comstock Resources has a 12-month low of $11.05 and a 12-month high of $31.17.

Comstock Resources (NYSE:CRK) last announced its earnings results on Wednesday, July 30th. The oil and gas producer reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. The company had revenue of $470.26 million during the quarter, compared to analysts’ expectations of $431.82 million. Comstock Resources had a negative net margin of 5.05% and a positive return on equity of 3.65%. The firm’s quarterly revenue was up 90.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.20) earnings per share. As a group, research analysts predict that Comstock Resources will post 0.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Comstock Resources

Institutional investors have recently bought and sold shares of the stock. Legacy Investment Solutions LLC purchased a new stake in Comstock Resources in the second quarter valued at approximately $29,000. Atlantic Union Bankshares Corp purchased a new stake in Comstock Resources in the second quarter valued at approximately $34,000. Nisa Investment Advisors LLC grew its holdings in Comstock Resources by 129.3% in the first quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer’s stock valued at $42,000 after purchasing an additional 1,170 shares during the period. Emerald Mutual Fund Advisers Trust purchased a new stake in Comstock Resources in the first quarter valued at approximately $52,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Comstock Resources in the second quarter valued at approximately $69,000. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

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.