Comstock Resources (NYSE:CRK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Comstock Resources (NYSE:CRK) from a strong sell rating to a sell rating in a report issued on Saturday morning.

Other equities analysts also recently issued research reports about the stock. Mizuho decreased their price objective 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. Morgan Stanley set a $16.00 target price on shares of Comstock Resources and gave the stock an “equal weight” rating in a report on Monday, June 29th. Citigroup reduced their price target on shares of Comstock Resources from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, July 20th. The Goldman Sachs Group decreased their price target on shares of Comstock Resources from $13.00 to $10.00 and set a “sell” rating for the company in a report on Tuesday, June 30th. Finally, Williams Trading set a $16.00 price objective on shares of Comstock Resources in a research report on Thursday, May 14th. Six analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Comstock Resources has a consensus rating of “Reduce” and a consensus target price of $15.22.

Comstock Resources Stock Up 1.0%

Shares of Comstock Resources stock opened at $13.39 on Friday. The business has a 50-day moving average price of $13.46 and a 200 day moving average price of $17.20. Comstock Resources has a fifty-two week low of $12.12 and a fifty-two week high of $28.10. The firm has a market cap of $3.93 billion, a P/E ratio of 7.52 and a beta of 0.10. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.98.

Comstock Resources (NYSE:CRK) last released its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $353.28 million for 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%.Comstock Resources’s quarterly revenue was down 24.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 EPS. On average, sell-side analysts forecast that Comstock Resources will post 0.5 earnings per share for the current fiscal year.

Institutional Trading of Comstock Resources

Several hedge funds have recently bought and sold shares of CRK. Dragoneer Investment Group LLC acquired a new position in Comstock Resources during the 4th quarter worth $99,632,000. Bank of America Corp DE grew its stake in shares of Comstock Resources by 344.5% in the second quarter. Bank of America Corp DE now owns 1,853,846 shares of the oil and gas producer’s stock worth $51,296,000 after purchasing an additional 1,436,746 shares in the last quarter. Gemsstock Ltd. acquired a new position in shares of Comstock Resources during the fourth quarter valued at $19,186,000. First Trust Advisors LP increased its holdings in shares of Comstock Resources by 143.2% during the first quarter. First Trust Advisors LP now owns 1,079,633 shares of the oil and gas producer’s stock valued at $22,759,000 after purchasing an additional 635,781 shares during the period. Finally, Man Group plc raised its stake in shares of Comstock Resources by 1,752.8% during the third quarter. Man Group plc now owns 600,205 shares of the oil and gas producer’s stock valued at $11,902,000 after purchasing an additional 567,810 shares in the last quarter. 36.13% of the stock is currently owned by institutional investors.

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.