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

Comstock Resources, Inc. (NYSE:CRK) has been given a consensus recommendation of “Reduce” by the ten analysts that are covering the company, Marketbeat reports. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $20.1111.

A number of brokerages have recently weighed in on CRK. Piper Sandler dropped 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. Bank of America cut shares of Comstock Resources from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $27.00 to $24.00 in a research note on Friday, January 16th. Zacks Research raised shares of Comstock Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comstock Resources in a report on Monday, December 29th. Finally, Mizuho lifted their price objective on shares of Comstock Resources from $21.00 to $29.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th.

Institutional Trading of Comstock Resources

Several large investors have recently added to or reduced their stakes in CRK. AQR Capital Management LLC acquired a new position in shares of Comstock Resources in the first quarter valued at about $627,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Comstock Resources by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,236 shares of the oil and gas producer’s stock valued at $1,124,000 after buying an additional 2,697 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in 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 buying an additional 437,476 shares during the period. Intech Investment Management LLC increased its holdings in 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 buying an additional 13,485 shares during the period. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in Comstock Resources during the 2nd quarter worth approximately $232,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Comstock Resources Stock Performance

Shares of CRK opened at $19.04 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 0.95. The firm has a market cap of $5.58 billion, a PE ratio of 13.51 and a beta of 0.39. Comstock Resources has a 12 month low of $14.65 and a 12 month high of $31.17. The stock has a fifty day moving average price of $22.35 and a 200-day moving average price of $20.40.

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 return on equity of 6.30% and a net margin of 17.80%.The company had revenue of $789.81 million for the quarter, compared to analyst estimates of $504.66 million. During the same period in the prior year, the company posted $0.16 EPS. The firm’s quarterly revenue was up 115.5% compared to the same quarter last year. Equities research analysts predict that Comstock Resources will post 0.54 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.