Comstock Resources (NYSE:CRK) Cut to Strong Sell at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen downgraded shares of Comstock Resources (NYSE:CRK – Free Report) from a sell rating to a strong sell rating in a report published on Sunday.

A number of other brokerages have also commented on CRK. UBS Group reiterated a “sell” rating and set a $13.00 price target (down from $17.00) on shares of Comstock Resources in a report on Monday, May 11th. Zacks Research lowered shares of Comstock Resources from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 16th. Morgan Stanley set a $16.00 target price on shares of Comstock Resources and gave the company an “equal weight” rating in a research note on Monday, June 29th. Mizuho reduced their price target on shares of Comstock Resources from $25.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. Finally, Roth Capital reissued a “neutral” rating on shares of Comstock Resources in a report on Thursday, July 30th. Six investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $15.00.

Check Out Our Latest Report on Comstock Resources

Comstock Resources Price Performance

NYSE CRK opened at $14.35 on Friday. Comstock Resources has a twelve month low of $12.12 and a twelve month high of $28.10. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.48 and a current ratio of 0.48. The stock has a market capitalization of $4.21 billion, a PE ratio of 8.06 and a beta of 0.13. The stock has a 50-day simple moving average of $13.49 and a 200 day simple moving average of $16.85.

Comstock Resources (NYSE:CRK – Get Free Report) last announced its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. The firm had revenue of $353.28 million during the quarter, compared to the consensus estimate of $419.22 million. Comstock Resources had a return on equity of 4.12% and a net margin of 23.31%.The firm’s revenue for the quarter was down 24.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.13 EPS. Research analysts anticipate that Comstock Resources will post 0.48 EPS for the current year.

Institutional Trading of Comstock Resources

A number of hedge funds have recently modified their holdings of the company. Rothschild Investment LLC increased its position in shares of Comstock Resources by 740.4% during the fourth quarter. Rothschild Investment LLC now owns 1,143 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 1,007 shares during the period. Kemnay Advisory Services Inc. bought a new position in Comstock Resources in the fourth quarter worth $29,000. Advisory Services Network LLC bought a new position in Comstock Resources in the third quarter worth $27,000. Hantz Financial Services Inc. lifted its position in 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 period. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in Comstock Resources during the first quarter worth $29,000. Institutional investors own 36.13% of the company’s stock.

About Comstock Resources

(Get Free Report)

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.

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