Comstock Resources, Inc. (NYSE:CRK) Receives Average Recommendation of "Reduce" from Analysts

Key Points

• Analysts are cautious on Comstock Resources: The stock has a consensus rating of "Reduce" from 10 covering analysts, with three sell ratings and seven hold ratings. The average 12-month price target is about $16.11.
• Recent earnings missed expectations: Comstock reported $0.15 EPS for the quarter, below the $0.23 estimate, though revenue of $587.35 million topped forecasts and rose 14.5% year over year.
• The stock is trading near the lower end of its range: Shares opened at $13.27, near their 52-week low of $12.44 and well below the 52-week high of $28.10. The company also has a market cap of about $3.90 billion.

Shares of Comstock Resources, Inc. (NYSE:CRK - Get Free Report) have earned a consensus recommendation of "Reduce" from the ten analysts that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $16.1111.

Several equities analysts have issued reports on CRK shares. Weiss Ratings reissued a "hold (c)" rating on shares of Comstock Resources in a research note on Wednesday, May 20th. Roth Capital raised shares of Comstock Resources from a "sell" rating to a "neutral" rating and set a $13.00 price objective for the company in a research report on Friday. UBS Group reiterated a "sell" rating and issued a $13.00 price objective (down from $17.00) on shares of Comstock Resources in a research note on Monday, May 11th. Citigroup reiterated a "neutral" rating on shares of Comstock Resources in a research report on Wednesday, April 15th. Finally, Morgan Stanley set a $16.00 target price on shares of Comstock Resources and gave the stock an "equal weight" rating in a research note on Monday, June 29th.

Hedge Funds Weigh In On Comstock Resources

Several institutional investors have recently made changes to their positions in CRK. Rothschild Investment LLC boosted its holdings 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 acquiring 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. purchased a new stake in shares of Comstock Resources in the fourth quarter valued at about $29,000. Finally, Hantz Financial Services Inc. lifted its position 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 valued at $33,000 after purchasing an additional 1,290 shares in the last quarter. Institutional investors and hedge funds own 36.13% of the company's stock.

Comstock Resources Price Performance

Comstock Resources stock opened at $13.27 on Tuesday. The stock's 50 day moving average is $13.94 and its 200 day moving average is $18.23. Comstock Resources has a one year low of $12.44 and a one year high of $28.10. The firm has a market cap of $3.90 billion, a P/E ratio of 6.06 and a beta of 0.10. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.41 and a quick ratio of 0.41.

Comstock Resources (NYSE:CRK - Get Free Report) last released its earnings results on Tuesday, May 5th. The oil and gas producer reported $0.15 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.08). Comstock Resources had a net margin of 27.18% and a return on equity of 5.54%. The firm had revenue of $587.35 million for the quarter, compared to analyst estimates of $554.01 million. During the same period in the prior year, the company posted $0.18 EPS. The business's revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, research analysts expect that Comstock Resources will post 0.51 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.