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

Comstock Resources, Inc. (NYSE:CRK) has received an average recommendation of “Reduce” from the ten research firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $19.7778.

A number of analysts recently commented on the company. Citigroup reaffirmed a “neutral” rating on shares of Comstock Resources in a research note on Wednesday, April 15th. Williams Trading set a $16.00 price target on Comstock Resources in a research note on Thursday, May 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Comstock Resources in a research note on Wednesday. UBS Group reissued a “sell” rating and issued a $13.00 price target (down from $17.00) on shares of Comstock Resources in a research note on Monday, May 11th. Finally, Wall Street Zen lowered Comstock Resources from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 9th.

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 dated 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 sale, the vice president directly owned 187,516 shares of the company’s stock, valued at approximately $3,975,339.20. This trade represents a 20.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.20% of the company’s stock.

Institutional Trading of Comstock Resources

A number of hedge funds have recently added to or reduced their stakes in CRK. Rothschild Investment LLC boosted its stake in Comstock Resources by 740.4% in the 4th quarter. Rothschild Investment LLC now owns 1,143 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 1,007 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Comstock Resources in the 3rd quarter worth about $27,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in Comstock Resources in the 1st quarter worth about $29,000. Kemnay Advisory Services Inc. acquired a new stake in Comstock Resources in the 4th quarter worth about $29,000. Finally, Jones Financial Companies Lllp boosted its stake in Comstock Resources by 671.2% in the 3rd 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 during the last quarter. 36.13% of the stock is owned by institutional investors and hedge funds.

Comstock Resources Stock Up 0.0%

CRK opened at $13.95 on Monday. 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 firm has a market cap of $4.10 billion, a P/E ratio of 6.37 and a beta of 0.22. Comstock Resources has a 52 week low of $13.59 and a 52 week high of $31.17. The business’s fifty day simple moving average is $17.93 and its 200 day simple moving average is $20.85.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). The company had revenue of $587.35 million for the quarter, compared to analyst estimates of $554.02 million. Comstock Resources had a net margin of 27.18% and a return on equity of 5.54%. The firm’s revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 EPS. As a group, equities research analysts anticipate that Comstock Resources will post 0.64 EPS 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.