Comstock Resources (NYSE:CRK) Receives New Coverage from Analysts at Wolfe Research

Equities research analysts at Wolfe Research initiated coverage on shares of Comstock Resources (NYSE:CRK) in a report released on Thursday, Briefing.com reports. The brokerage set a “peer perform” rating on the oil and gas producer’s stock.

Several other research firms also recently commented on CRK. Mizuho raised their price objective on Comstock Resources from $10.00 to $11.00 and gave the stock an “underperform” rating in a research note on Monday, May 13th. KeyCorp assumed coverage on Comstock Resources in a research note on Thursday, June 27th. They issued a “sector weight” rating on the stock. The Goldman Sachs Group raised their price objective on Comstock Resources from $9.00 to $10.00 and gave the stock a “sell” rating in a research note on Tuesday, May 28th. StockNews.com upgraded Comstock Resources to a “sell” rating in a research report on Monday, April 29th. Finally, Stifel Nicolaus cut their target price on Comstock Resources from $14.00 to $13.50 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $10.25.

Comstock Resources Stock Down 3.3 %

CRK stock opened at $10.12 on Thursday. The business’s 50-day moving average is $10.95 and its two-hundred day moving average is $9.47. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.64 and a current ratio of 0.64. Comstock Resources has a fifty-two week low of $7.07 and a fifty-two week high of $13.39. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 46.00 and a beta of 0.51.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.05. Comstock Resources had a return on equity of 1.25% and a net margin of 4.27%. The firm had revenue of $335.77 million for the quarter, compared to the consensus estimate of $343.97 million. During the same quarter last year, the company earned $0.33 earnings per share. The business’s revenue for the quarter was down 31.4% compared to the same quarter last year. As a group, analysts forecast that Comstock Resources will post -0.11 earnings per share for the current year.

Institutional Trading of Comstock Resources

Several institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its holdings in Comstock Resources by 428.9% during the 1st quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer’s stock valued at $44,000 after buying an additional 3,869 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in Comstock Resources by 2,161.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 4,929 shares of the oil and gas producer’s stock valued at $46,000 after buying an additional 4,711 shares in the last quarter. Forum Financial Management LP purchased a new position in Comstock Resources during the 4th quarter valued at approximately $90,000. Headlands Technologies LLC purchased a new position in Comstock Resources during the 1st quarter valued at approximately $91,000. Finally, Stratos Wealth Partners LTD. purchased a new position in Comstock Resources during the 4th quarter valued at approximately $97,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

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.