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

Comstock Resources, Inc. (NYSE:CRK) has been given a consensus recommendation of “Reduce” by the eleven analysts that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $20.60.

CRK has been the topic of a number of recent analyst reports. Piper Sandler reduced their price target on Comstock Resources from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 18th. Mizuho raised their price target on Comstock Resources from $21.00 to $29.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. UBS Group reaffirmed a “sell” rating and set a $18.00 price objective (up previously from $16.00) on shares of Comstock Resources in a research note on Friday, December 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Comstock Resources in a research report on Monday. Finally, Zacks Research upgraded shares of Comstock Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th.

Comstock Resources Stock Up 1.3%

Shares of NYSE:CRK opened at $23.37 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $6.85 billion, a P/E ratio of 93.46 and a beta of 0.33. Comstock Resources has a 52-week low of $14.65 and a 52-week high of $31.17. The stock’s fifty day simple moving average is $22.47 and its 200-day simple moving average is $21.06.

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 analysts’ consensus estimates of $0.04 by $0.05. The company had revenue of $449.85 million for the quarter, compared to analyst estimates of $433.54 million. Comstock Resources had a net margin of 3.14% and a return on equity of 6.71%. The firm’s quarterly revenue was up 47.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.17) EPS. As a group, equities research analysts forecast that Comstock Resources will post 0.54 earnings per share for the current fiscal year.

Institutional Trading of Comstock Resources

A number of institutional investors and hedge funds have recently made changes to their positions in CRK. Advisory Services Network LLC acquired a new stake in Comstock Resources during the 3rd quarter valued at $27,000. Legacy Investment Solutions LLC purchased a new position in shares of Comstock Resources during the 2nd quarter valued at approximately $29,000. Jones Financial Companies Lllp grew its position in shares of Comstock Resources by 671.2% during the third quarter. Jones Financial Companies Lllp now owns 1,581 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 1,376 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Comstock Resources in the second quarter worth $34,000. Finally, iSAM Funds UK Ltd acquired a new stake in Comstock Resources in the third quarter valued at $38,000. 36.13% of the stock is currently owned by institutional investors and hedge funds.

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.