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

Comstock Resources, Inc. (NYSE:CRK) has been assigned a consensus rating of “Reduce” from the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $20.8750.

A number of research firms recently weighed in on CRK. Bank of America lowered shares of Comstock Resources from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $27.00 to $24.00 in a research report on Friday, January 16th. Morgan Stanley set a $19.00 target price on shares of Comstock Resources in a research note on Friday, February 13th. UBS Group set a $17.00 target price on Comstock Resources in a report on Friday, February 13th. Citigroup upped their price target on Comstock Resources from $23.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, March 31st. Finally, Mizuho lifted their price objective on Comstock Resources from $21.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th.

Comstock Resources Stock Down 0.2%

NYSE CRK opened at $19.50 on Friday. The business has a fifty day moving average price of $20.76 and a 200 day moving average price of $21.44. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.49. The company has a market cap of $5.73 billion, a P/E ratio of 13.83 and a beta of 0.39. Comstock Resources has a one year low of $14.65 and a one year high of $31.17.

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, topping the consensus estimate of $0.11 by $0.05. The company had revenue of $787.32 million for the quarter, compared to analysts’ expectations of $504.66 million. Comstock Resources had a net margin of 17.80% and a return on equity of 6.30%. The firm’s quarterly revenue was up 115.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.16 EPS. Research analysts anticipate that Comstock Resources will post 0.54 EPS for the current fiscal year.

Insider Transactions at Comstock Resources

In other Comstock Resources news, VP Patrick Mcgough sold 48,915 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $21.20, for a total value of $1,036,998.00. Following the completion of the sale, the vice president directly owned 187,516 shares of the company’s stock, valued at $3,975,339.20. This trade represents a 20.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CRK. CreativeOne Wealth LLC increased its position in Comstock Resources by 3.7% during the third quarter. CreativeOne Wealth LLC now owns 13,931 shares of the oil and gas producer’s stock worth $276,000 after purchasing an additional 500 shares during the last quarter. Natixis Advisors LLC boosted its holdings in Comstock Resources by 2.0% in the 4th quarter. Natixis Advisors LLC now owns 29,703 shares of the oil and gas producer’s stock valued at $689,000 after purchasing an additional 572 shares during the last quarter. Carrera Capital Advisors boosted its holdings in Comstock Resources by 0.7% in the 4th quarter. Carrera Capital Advisors now owns 82,910 shares of the oil and gas producer’s stock valued at $1,922,000 after purchasing an additional 606 shares during the last quarter. Uhlmann Price Securities LLC boosted its holdings in Comstock Resources by 2.4% in the 3rd quarter. Uhlmann Price Securities LLC now owns 27,653 shares of the oil and gas producer’s stock valued at $548,000 after purchasing an additional 650 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Comstock Resources by 12.1% in the 4th quarter. GAMMA Investing LLC now owns 6,303 shares of the oil and gas producer’s stock valued at $146,000 after buying an additional 679 shares during the period. Institutional investors and hedge funds own 36.13% of the company’s stock.

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.