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

Key Points

• Analyst consensus is “Reduce”: Four of ten brokerages rate Comstock Resources a sell and six recommend holding the stock. The average 12-month price target is $15.22, with recent target cuts from Citigroup and UBS.
• Shares opened at $13.45, below the 200-day moving average of $17.01, and have traded between $12.12 and $28.10 over the past year. The company has a $3.95 billion market capitalization and a debt-to-equity ratio of 0.98.
• Comstock slightly beat quarterly EPS expectations at $0.03 versus $0.02, but revenue of $353.28 million fell short of estimates and declined 24.9% year over year. Analysts expect full-year EPS of approximately $0.48.

Comstock Resources, Inc. (NYSE:CRK - Get Free Report) has received a consensus rating of "Reduce" from the ten research firms that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $15.2222.

A number of equities research analysts have recently commented on the stock. Wall Street Zen raised shares of Comstock Resources from a "strong sell" rating to a "sell" rating in a report on Saturday, August 1st. Citigroup dropped their price target on Comstock Resources from $19.00 to $16.00 and set a "neutral" rating on the stock in a research report on Monday, July 20th. Roth Capital reaffirmed a "neutral" rating on shares of Comstock Resources in a research note on Thursday, July 30th. UBS Group reaffirmed a "sell" rating and set a $13.00 price objective (down from $17.00) on shares of Comstock Resources in a research report on Monday, May 11th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Comstock Resources in a research note on Wednesday, May 20th.

Comstock Resources Stock Performance

Shares of Comstock Resources stock opened at $13.45 on Friday. The firm's fifty day simple moving average is $13.45 and its 200-day simple moving average is $17.01. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 7.55 and a beta of 0.13. Comstock Resources has a 12 month low of $12.12 and a 12 month high of $28.10. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.48 and a quick ratio of 0.48.

Comstock Resources (NYSE:CRK - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.01. Comstock Resources had a net margin of 23.31% and a return on equity of 4.12%. The firm had revenue of $353.28 million during the quarter, compared to analysts' expectations of $419.22 million. During the same quarter in the prior year, the business earned $0.13 EPS. Comstock Resources'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

Several hedge funds have recently modified their holdings of the stock. Rothschild Investment LLC raised its position in Comstock Resources by 740.4% during the 4th quarter. Rothschild Investment LLC now owns 1,143 shares of the oil and gas producer's stock worth $26,000 after buying an additional 1,007 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Comstock Resources in the third quarter valued at about $27,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Comstock Resources in the first quarter valued at about $29,000. Kemnay Advisory Services Inc. acquired a new position in shares of Comstock Resources during the fourth quarter worth about $29,000. Finally, Hantz Financial Services Inc. increased its stake in shares of Comstock Resources by 877.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,437 shares of the oil and gas producer's stock worth $33,000 after acquiring an additional 1,290 shares during the period. 36.13% of the stock is owned by institutional investors and hedge funds.

Comstock Resources Company Profile

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.

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