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

Shares of Comstock Resources, Inc. (NYSE:CRK) have earned a consensus rating of “Reduce” from the ten research firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $20.1111.

CRK has been the topic of several analyst reports. Bank of America lowered Comstock Resources from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $27.00 to $24.00 in a report on Friday, January 16th. Piper Sandler lowered their price objective on Comstock Resources from $9.00 to $8.00 and set an “underweight” rating on the stock in a research report on Tuesday, November 18th. UBS Group set a $17.00 target price on shares of Comstock Resources in a report on Friday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Comstock Resources in a research note on Monday, December 29th. Finally, Citigroup reissued a “neutral” rating and set a $25.00 price target (up from $24.00) on shares of Comstock Resources in a report on Wednesday, January 14th.

Comstock Resources Trading Down 0.7%

Shares of Comstock Resources stock opened at $19.04 on Friday. The stock has a market cap of $5.58 billion, a PE ratio of 13.51 and a beta of 0.39. The firm has a fifty day moving average price of $22.35 and a 200 day moving average price of $20.40. Comstock Resources has a 1 year low of $14.65 and a 1 year high of $31.17. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.49 and a quick ratio of 0.41.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings results on Wednesday, February 11th. The oil and gas producer reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.05. The company had revenue of $789.81 million for the quarter, compared to the consensus estimate of $504.66 million. Comstock Resources had a return on equity of 6.30% and a net margin of 17.80%.The firm’s revenue for the quarter was up 115.5% compared to the same quarter last year. During the same period last year, the firm earned $0.16 EPS. Equities research analysts predict that Comstock Resources will post 0.54 earnings per share for the current year.

Institutional Investors Weigh In On Comstock Resources

Institutional investors have recently modified their holdings of the business. CreativeOne Wealth LLC raised its holdings in Comstock Resources by 3.7% in the 3rd 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 period. Natixis Advisors LLC increased its position in shares of Comstock Resources by 2.0% in the fourth 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 in the last quarter. Carrera Capital Advisors raised its stake in shares of Comstock Resources by 0.7% during the 4th quarter. Carrera Capital Advisors now owns 82,910 shares of the oil and gas producer’s stock worth $1,922,000 after buying an additional 606 shares during the period. Uhlmann Price Securities LLC lifted its position in shares of 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 valued at $548,000 after buying an additional 650 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in 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 acquiring an additional 679 shares during the period. 36.13% of the stock is currently owned by institutional investors and hedge funds.

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.