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

Comstock Resources, Inc. (NYSE:CRK) has earned a consensus rating of “Reduce” from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $17.00.

CRK has been the subject of a number of recent analyst reports. Morgan Stanley reduced their target price on Comstock Resources from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday, May 22nd. Mizuho reduced their target price on Comstock Resources from $25.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. Williams Trading set a $16.00 target price on Comstock Resources in a report on Thursday, May 14th. UBS Group reaffirmed a “sell” rating and set a $13.00 target price (down from $17.00) on shares of Comstock Resources in a report on Monday, May 11th. Finally, Wall Street Zen lowered Comstock Resources from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CRK. AQR Capital Management LLC purchased a new position in Comstock Resources during the 1st quarter valued at about $627,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Comstock Resources by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,236 shares of the oil and gas producer’s stock valued at $1,124,000 after buying an additional 2,697 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Comstock Resources by 67.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,086,868 shares of the oil and gas producer’s stock valued at $22,107,000 after buying an additional 437,476 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of Comstock Resources by 26.0% during the first quarter. Intech Investment Management LLC now owns 65,289 shares of the oil and gas producer’s stock worth $1,328,000 after purchasing an additional 13,485 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in shares of Comstock Resources during the second quarter worth about $93,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Comstock Resources Trading Down 0.2%

Shares of Comstock Resources stock opened at $13.10 on Friday. Comstock Resources has a 52-week low of $12.44 and a 52-week high of $31.17. The stock’s 50-day simple moving average is $15.03 and its 200 day simple moving average is $19.39. The stock has a market capitalization of $3.85 billion, a P/E ratio of 5.98 and a beta of 0.13. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.41 and a current ratio of 0.41.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). Comstock Resources had a net margin of 27.18% and a return on equity of 5.54%. The firm had revenue of $587.35 million during the quarter, compared to the consensus estimate of $554.02 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The company’s revenue was up 14.5% on a year-over-year basis. As a group, research analysts anticipate that Comstock Resources will post 0.56 EPS for the current 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.