The Goldman Sachs Group Lowers Comstock Resources (NYSE:CRK) Price Target to $10.00

Comstock Resources (NYSE:CRK) had its price target dropped by equities research analysts at The Goldman Sachs Group from $13.00 to $10.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “sell” rating on the oil and gas producer’s stock. The Goldman Sachs Group’s price target would suggest a potential downside of 29.65% from the stock’s current price.

Several other equities research analysts also recently issued reports on CRK. Williams Trading set a $16.00 price objective on shares of Comstock Resources in a research report on Thursday, May 14th. Morgan Stanley set a $16.00 price objective on shares of Comstock Resources and gave the company an “equal weight” rating in a research report on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Comstock Resources in a research note on Wednesday, May 20th. UBS Group reaffirmed a “sell” rating and issued a $13.00 target price (down from $17.00) on shares of Comstock Resources in a research note on Monday, May 11th. Finally, Wall Street Zen cut Comstock Resources from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. Six research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Comstock Resources currently has a consensus rating of “Reduce” and an average target price of $16.00.

Comstock Resources Trading Down 0.6%

NYSE:CRK opened at $14.21 on Tuesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.41 and a quick ratio of 0.41. The business’s 50-day simple moving average is $14.53 and its 200-day simple moving average is $18.78. Comstock Resources has a fifty-two week low of $12.44 and a fifty-two week high of $28.40. The stock has a market capitalization of $4.17 billion, a PE ratio of 6.49 and a beta of 0.13.

Comstock Resources (NYSE:CRK) last posted its earnings results 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). The business had revenue of $587.35 million for the quarter, compared to the consensus estimate of $554.01 million. Comstock Resources had a return on equity of 5.54% and a net margin of 27.18%.Comstock Resources’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 earnings per share. Sell-side analysts expect that Comstock Resources will post 0.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Comstock Resources

Institutional investors have recently bought and sold shares of the business. CreativeOne Wealth LLC increased its position in Comstock Resources by 3.7% during 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 in the last quarter. Natixis Advisors LLC lifted its holdings in shares of Comstock Resources by 2.0% during the fourth quarter. Natixis Advisors LLC now owns 29,703 shares of the oil and gas producer’s stock worth $689,000 after purchasing an additional 572 shares during the period. Carrera Capital Advisors grew its stake in shares of Comstock Resources by 0.7% in the fourth quarter. Carrera Capital Advisors now owns 82,910 shares of the oil and gas producer’s stock worth $1,922,000 after purchasing an additional 606 shares during the last quarter. GAMMA Investing LLC increased its holdings in Comstock Resources by 12.1% in the fourth quarter. GAMMA Investing LLC now owns 6,303 shares of the oil and gas producer’s stock valued at $146,000 after purchasing an additional 679 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in Comstock Resources by 14.2% in the fourth quarter. Farther Finance Advisors LLC now owns 6,435 shares of the oil and gas producer’s stock valued at $149,000 after purchasing an additional 802 shares during the period. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Company Profile

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.