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

Shares of Comstock Resources, Inc. (NYSE:CRK) have earned a consensus recommendation of “Reduce” from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $20.8750.

A number of equities analysts have recently weighed in on CRK shares. Bank of America cut 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 report on Friday, January 16th. UBS Group set a $17.00 target price on shares of Comstock Resources in a research report on Friday, February 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comstock Resources in a research note on Monday, December 29th. Wall Street Zen cut shares of Comstock Resources from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Finally, Morgan Stanley set a $19.00 price target on shares of Comstock Resources in a research note on Friday, February 13th.

Insiders Place Their Bets

In related news, VP Patrick Mcgough sold 48,915 shares of Comstock Resources stock in a transaction that occurred on Thursday, March 5th. The shares were 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 owned 187,516 shares in the company, valued at approximately $3,975,339.20. This trade represents a 20.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. CreativeOne Wealth LLC boosted its position in shares of 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 buying an additional 500 shares during the period. Natixis Advisors LLC raised its holdings in shares of 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 buying an additional 572 shares during the period. Carrera Capital Advisors raised its holdings in shares of 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 buying an additional 606 shares during the period. Uhlmann Price Securities LLC lifted its stake in Comstock Resources by 2.4% during the 3rd quarter. Uhlmann Price Securities LLC now owns 27,653 shares of the oil and gas producer’s stock worth $548,000 after acquiring an additional 650 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Comstock Resources by 12.1% during the 4th quarter. GAMMA Investing LLC now owns 6,303 shares of the oil and gas producer’s stock worth $146,000 after acquiring an additional 679 shares in the last quarter. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Comstock Resources Trading Down 0.2%

Shares of Comstock Resources stock opened at $19.50 on Friday. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of 13.83 and a beta of 0.39. Comstock Resources has a fifty-two week low of $14.65 and a fifty-two week high of $31.17. 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 stock has a 50 day moving average of $20.76 and a 200 day moving average of $21.44.

Comstock Resources (NYSE:CRK) last posted 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. Comstock Resources had a return on equity of 6.30% and a net margin of 17.80%.The company had revenue of $787.32 million during the quarter, compared to analysts’ expectations of $504.66 million. During the same quarter last year, the firm earned $0.16 earnings per share. The firm’s quarterly revenue was up 115.5% compared to the same quarter last year. As a group, research analysts predict that Comstock Resources will post 0.54 earnings per share for the current year.

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.