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

Key Points

• Comstock Resources, Inc. has a consensus recommendation of "Reduce", with four analysts rating it sell, four as hold, and two as buy.
• The average 12-month price target for Comstock Resources is $19.82, reflecting analysts' varying outlooks on the stock's performance.
• Comstock recently reported a 52.7% increase in revenue year-over-year, earning $0.18 EPS, which exceeded expectations of $0.16.

Shares of Comstock Resources, Inc. (NYSE:CRK - Get Free Report) have been given a consensus rating of "Reduce" by the ten analysts that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $19.64.

A number of equities analysts have recently issued reports on CRK shares. Wolfe Research raised Comstock Resources from a "peer perform" rating to an "outperform" rating and set a $34.00 price target on the stock in a research report on Tuesday, June 17th. Bank of America increased their price target on Comstock Resources from $25.00 to $27.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Wall Street Zen raised Comstock Resources to a "sell" rating in a research report on Thursday, May 8th. UBS Group decreased their price objective on Comstock Resources from $20.00 to $18.00 and set a "sell" rating for the company in a research note on Thursday. Finally, Mizuho upped their price objective on Comstock Resources from $22.00 to $24.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th.

Institutional Investors Weigh In On Comstock Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Illinois Municipal Retirement Fund raised its stake in Comstock Resources by 1.2% in the first quarter. Illinois Municipal Retirement Fund now owns 45,075 shares of the oil and gas producer's stock valued at $917,000 after buying an additional 550 shares during the last quarter. Bank of Montreal Can raised its stake in Comstock Resources by 1.9% in the fourth quarter. Bank of Montreal Can now owns 40,983 shares of the oil and gas producer's stock valued at $747,000 after buying an additional 772 shares during the last quarter. GAMMA Investing LLC raised its stake in Comstock Resources by 17.6% in the first quarter. GAMMA Investing LLC now owns 6,803 shares of the oil and gas producer's stock valued at $138,000 after buying an additional 1,017 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Comstock Resources by 11.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,599 shares of the oil and gas producer's stock valued at $236,000 after buying an additional 1,145 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Comstock Resources by 129.3% in the first quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer's stock valued at $42,000 after buying an additional 1,170 shares during the last quarter. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

Comstock Resources Stock Down 6.1%

Shares of CRK traded down $1.10 during midday trading on Tuesday, reaching $16.78. 1,458,763 shares of the stock were exchanged, compared to its average volume of 2,425,645. Comstock Resources has a 52 week low of $7.74 and a 52 week high of $31.17. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.34. The company's 50 day moving average is $24.39 and its two-hundred day moving average is $21.32. The company has a market capitalization of $4.91 billion, a P/E ratio of -70.02 and a beta of 0.37.

Comstock Resources (NYSE:CRK - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The oil and gas producer reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.04. Comstock Resources had a positive return on equity of 3.69% and a negative net margin of 5.05%. The business had revenue of $470.26 million for the quarter, compared to the consensus estimate of $431.82 million. During the same quarter in the prior year, the company earned ($0.20) EPS. The business's revenue was up 90.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Comstock Resources will post 0.54 earnings per share for the current year.

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.