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 research report sent to investors on Thursday morning,Zacks.com reports.

CRK has been the topic of several other research reports. Mizuho dropped their price objective on shares of Comstock Resources from $25.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. Citigroup reissued a “neutral” rating on shares of Comstock Resources in a research note on Wednesday, April 15th. UBS Group reaffirmed a “sell” rating and issued a $13.00 price target (down from $17.00) on shares of Comstock Resources in a research report on Monday, May 11th. Williams Trading set a $16.00 price target on shares of Comstock Resources in a research note on Thursday, May 14th. Finally, The Goldman Sachs Group cut their price objective on shares of Comstock Resources from $13.00 to $10.00 and set a “sell” rating on the stock in a research report on Tuesday, June 30th. Six equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Comstock Resources currently has an average rating of “Reduce” and a consensus target price of $16.11.

Comstock Resources Trading Up 1.9%

CRK opened at $13.35 on Thursday. The stock has a market cap of $3.92 billion, a PE ratio of 6.09 and a beta of 0.10. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.96. The business has a 50 day moving average of $13.77 and a 200-day moving average of $17.98. Comstock Resources has a 52 week low of $12.44 and a 52 week high of $28.10.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.08). The firm had revenue of $587.35 million during the quarter, compared to analysts’ expectations of $554.01 million. Comstock Resources had a return on equity of 5.54% and a net margin of 27.18%.Comstock Resources’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 earnings per share. Equities research analysts predict that Comstock Resources will post 0.49 earnings per share for the current fiscal year.

Institutional Trading of Comstock Resources

Several large investors have recently modified their holdings of the company. Rothschild Investment LLC raised its stake in Comstock Resources by 740.4% during the 4th quarter. Rothschild Investment LLC now owns 1,143 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 1,007 shares during the period. Kemnay Advisory Services Inc. purchased a new position in Comstock Resources during the fourth quarter valued at $29,000. Advisory Services Network LLC bought a new stake in shares of Comstock Resources in the third quarter worth about $27,000. Hantz Financial Services Inc. increased its holdings in shares of Comstock Resources by 877.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,437 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 1,290 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Comstock Resources during the 1st quarter worth approximately $29,000. Institutional investors 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.