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

Shares of Comstock Resources, Inc. (NYSE:CRK) have been given a consensus recommendation of “Reduce” by the thirteen ratings firms that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $14.23.

Several equities analysts recently issued reports on CRK shares. Williams Trading set a $13.00 price objective on Comstock Resources in a research report on Wednesday, March 5th. Piper Sandler boosted their price objective on shares of Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Wednesday, January 29th. Morgan Stanley reissued a “cautious” rating and issued a $22.00 price target (up previously from $21.00) on shares of Comstock Resources in a research note on Wednesday, March 26th. Truist Financial increased their price objective on Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Finally, StockNews.com raised shares of Comstock Resources to a “sell” rating in a research note on Saturday, April 19th.

Institutional Trading of Comstock Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. VSM Wealth Advisory LLC bought a new stake in shares of Comstock Resources in the 4th quarter valued at about $27,000. Sterling Capital Management LLC lifted its position in shares of Comstock Resources by 804.6% in the fourth quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer’s stock valued at $54,000 after buying an additional 2,631 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Comstock Resources by 225.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock worth $64,000 after acquiring an additional 2,326 shares during the period. Quarry LP acquired a new position in shares of Comstock Resources during the 4th quarter worth approximately $70,000. Finally, KBC Group NV lifted its holdings in Comstock Resources by 46.8% during the 4th quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer’s stock valued at $118,000 after purchasing an additional 2,066 shares during the last quarter. 36.13% of the stock is owned by institutional investors.

Comstock Resources Trading Up 0.1 %

CRK opened at $18.38 on Friday. Comstock Resources has a twelve month low of $7.74 and a twelve month high of $22.06. The firm has a market cap of $5.38 billion, a PE ratio of -24.18, a price-to-earnings-growth ratio of 1.65 and a beta of 0.42. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.60 and a current ratio of 0.46. The firm’s fifty day moving average is $18.99 and its two-hundred day moving average is $17.09.

Comstock Resources (NYSE:CRK) last posted its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.14. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The firm had revenue of $366.51 million for the quarter, compared to analyst estimates of $370.62 million. Equities research analysts anticipate that Comstock Resources will post 0.54 EPS for the current year.

About Comstock Resources

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. Its assets are located in the Haynesville and Bossier shales located in North Louisiana and East Texas. The company was incorporated in 1919 and is headquartered in Frisco, Texas.