Comstock Resources (NYSE:CRK) Upgraded to Sell 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 research report released on Monday morning.

Other analysts have also issued research reports about the stock. Zacks Research lowered shares of Comstock Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, July 16th. Citigroup cut their price target on shares of Comstock Resources from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, July 20th. Mizuho set a $19.00 price target on shares of Comstock Resources in a research report on Monday, August 10th. Morgan Stanley set a $16.00 price target on shares of Comstock Resources and gave the company an “equal weight” rating in a research report on Monday, June 29th. Finally, UBS Group reaffirmed a “sell” rating and issued a $13.00 price target (down from $17.00) on shares of Comstock Resources in a report on Monday, May 11th. Six investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat, Comstock Resources presently has a consensus rating of “Reduce” and an average target price of $15.00.

Comstock Resources Stock Performance

Shares of CRK stock opened at $13.51 on Monday. 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 firm has a market cap of $3.97 billion, a price-to-earnings ratio of 7.59 and a beta of 0.13. Comstock Resources has a 52 week low of $12.12 and a 52 week high of $28.10. The firm’s 50-day simple moving average is $13.53 and its two-hundred day simple moving average is $16.57.

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

Institutional Investors Weigh In On Comstock Resources

Hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio bought a new position in shares of Comstock Resources in the 2nd quarter worth $26,000. Bank of America Corp DE purchased a new stake in shares of Comstock Resources during the 2nd quarter valued at $7,487,000. Freestone Grove Partners LP bought a new stake in shares of Comstock Resources during the 2nd quarter worth $322,000. Jupiter Topco LLC bought a new stake in shares of Comstock Resources during the 2nd quarter worth $549,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Comstock Resources by 35.8% during the 2nd quarter. Jones Financial Companies Lllp now owns 6,916 shares of the oil and gas producer’s stock worth $99,000 after acquiring an additional 1,824 shares during 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.