Comstock Resources, Inc. (NYSE:CRK) Given Consensus Rating of "Reduce" by Brokerages

Key Points

• Analysts have assigned Comstock Resources, Inc. a consensus rating of "Reduce", with four sell, five hold, and two buy recommendations.
• The average twelve-month target price for the stock is $18.08, reflecting recent downgrades from several brokerages.
• Comstock Resources reported a quarterly EPS of $0.13, exceeding expectations, with revenue up 90.5% year-over-year to $470.26 million.

Comstock Resources, Inc. (NYSE:CRK - Get Free Report) has received an average recommendation of "Reduce" from the eleven analysts that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $18.0833.

A number of equities research analysts have recently weighed in on CRK shares. Morgan Stanley reduced their price objective on shares of Comstock Resources from $21.00 to $19.00 and set an "equal weight" rating on the stock in a report on Monday, August 4th. Piper Sandler reduced their price objective on shares of Comstock Resources from $12.00 to $10.00 and set an "underweight" rating on the stock in a report on Monday, August 4th. Wolfe Research upgraded shares of Comstock Resources from a "peer perform" rating to an "outperform" rating and set a $34.00 price target on the stock in a research note on Tuesday, June 17th. Roth Capital lowered shares of Comstock Resources from a "neutral" rating to a "sell" rating and cut their price target for the stock from $18.00 to $12.00 in a research note on Monday, August 18th. Finally, Mizuho cut their price target on shares of Comstock Resources from $27.00 to $22.00 and set a "neutral" rating on the stock in a research note on Monday.

Comstock Resources Stock Performance

NYSE CRK opened at $17.10 on Wednesday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.24. The stock has a market cap of $5.01 billion, a PE ratio of -71.25 and a beta of 0.27. The stock has a fifty day simple moving average of $17.87 and a 200-day simple moving average of $20.56. Comstock Resources has a twelve month low of $9.84 and a twelve month high of $31.17.

Comstock Resources (NYSE:CRK - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The oil and gas producer reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.04. The firm had revenue of $470.26 million during the quarter, compared to analysts' expectations of $431.82 million. Comstock Resources had a negative net margin of 5.05% and a positive return on equity of 3.65%. The firm's quarterly revenue was up 90.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.20) EPS. Equities analysts anticipate that Comstock Resources will post 0.54 earnings per share for the current year.

Institutional Trading of Comstock Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. boosted its holdings in shares of Comstock Resources by 22.0% in the second quarter. Osaic Holdings Inc. now owns 39,822 shares of the oil and gas producer's stock valued at $1,102,000 after acquiring an additional 7,185 shares in the last quarter. Orion Porfolio Solutions LLC purchased a new stake in Comstock Resources during the second quarter worth about $307,000. Castleark Management LLC purchased a new stake in Comstock Resources during the second quarter worth about $253,000. Public Sector Pension Investment Board boosted its holdings in Comstock Resources by 7.8% during the second quarter. Public Sector Pension Investment Board now owns 309,605 shares of the oil and gas producer's stock worth $8,567,000 after buying an additional 22,307 shares in the last quarter. Finally, HRT Financial LP boosted its holdings in Comstock Resources by 1,506.1% during the second quarter. HRT Financial LP now owns 237,131 shares of the oil and gas producer's stock worth $6,561,000 after buying an additional 222,367 shares in the last quarter. 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.

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