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

Shares of Comstock Resources, Inc. (NYSE:CRK - Get Free Report) have been assigned a consensus recommendation of "Reduce" from the ten ratings firms that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $19.73.

A number of equities analysts have issued reports on the company. Wolfe Research raised Comstock Resources from a "peer perform" rating to an "outperform" rating and set a $34.00 target price for the company in a report on Tuesday, June 17th. Wall Street Zen raised Comstock Resources to a "sell" rating in a research note on Thursday, May 8th. Morgan Stanley reiterated a "cautious" rating and set a $22.00 target price (up from $21.00) on shares of Comstock Resources in a research report on Wednesday, March 26th. Bank of America boosted their target price on shares of Comstock Resources from $25.00 to $27.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Finally, Mizuho raised their price target on shares of Comstock Resources from $22.00 to $24.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th.

Comstock Resources Stock Down 3.4%

Shares of NYSE CRK opened at $24.01 on Friday. The company has a market cap of $7.03 billion, a price-to-earnings ratio of -21.63 and a beta of 0.37. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.34. Comstock Resources has a 12 month low of $7.74 and a 12 month high of $31.17. The stock has a 50-day moving average price of $24.33 and a two-hundred day moving average price of $20.73.

Comstock Resources (NYSE:CRK - Get Free Report) last issued its earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. The firm had revenue of $512.85 million for the quarter, compared to analyst estimates of $408.99 million. Comstock Resources had a negative net margin of 23.39% and a negative return on equity of 0.67%. The company's quarterly revenue was up 52.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.03) earnings per share. As a group, analysts forecast that Comstock Resources will post 0.54 earnings per share for the current fiscal year.

Institutional Trading of Comstock Resources

Several large investors have recently modified their holdings of the stock. Intech Investment Management LLC grew its stake in shares of Comstock Resources by 26.0% in the 1st quarter. Intech Investment Management LLC now owns 65,289 shares of the oil and gas producer's stock valued at $1,328,000 after buying an additional 13,485 shares during the period. Bayforest Capital Ltd bought a new position in Comstock Resources in the first quarter worth approximately $271,000. Woodline Partners LP bought a new position in Comstock Resources in the first quarter worth approximately $8,719,000. Goldman Sachs Group Inc. grew its stake in Comstock Resources by 67.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,086,868 shares of the oil and gas producer's stock valued at $22,107,000 after acquiring an additional 437,476 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Comstock Resources by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,236 shares of the oil and gas producer's stock valued at $1,124,000 after acquiring an additional 2,697 shares during the period. Institutional investors and hedge funds own 36.13% of the company's stock.

Comstock Resources Company Profile

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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