Comstock Resources (NYSE:CRK) Receives Sell (D+) Rating from Weiss Ratings

Key Points

• Comstock Resources has received a "sell (D+)" rating from Weiss Ratings, reflecting analysts' concerns about its performance.
• The company's stock price has been downgraded by several firms, with target prices now ranging from $14.00 to $34.00, indicating varying sentiments among analysts.
• Despite a recent drop of 5.6% in stock value, Comstock reported a strong quarterly performance, exceeding earnings estimates and achieving a revenue increase of 90.5% year-over-year.

Comstock Resources (NYSE:CRK - Get Free Report)'s stock had its "sell (d+)" rating restated by stock analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

A number of other research analysts have also weighed in on the company. Morgan Stanley reduced their price objective on Comstock Resources from $21.00 to $19.00 and set an "equal weight" rating for the company in a research report on Monday, August 4th. UBS Group cut their target price on Comstock Resources from $18.00 to $14.00 and set a "sell" rating on the stock in a research note on Wednesday, August 20th. Wolfe Research upgraded Comstock Resources from a "peer perform" rating to an "outperform" rating and set a $34.00 target price on the stock in a research note on Tuesday, June 17th. Mizuho cut their target price on Comstock Resources from $27.00 to $22.00 and set a "neutral" rating on the stock in a research note on Monday, September 15th. Finally, Citigroup reiterated a "neutral" rating and set a $27.00 target price (up from $22.00) on shares of Comstock Resources in a research note on Friday, June 13th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $18.73.

Comstock Resources Stock Down 5.6%

Shares of NYSE:CRK traded down $1.23 during trading on Wednesday, hitting $20.58. The stock had a trading volume of 3,010,060 shares, compared to its average volume of 3,074,701. Comstock Resources has a 12 month low of $11.05 and a 12 month high of $31.17. The company has a market capitalization of $6.03 billion, a PE ratio of -85.75 and a beta of 0.19. The firm's fifty day moving average is $17.12 and its 200 day moving average is $20.65. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.24.

Comstock Resources (NYSE:CRK - Get Free Report) last announced its earnings results on Wednesday, July 30th. The oil and gas producer reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.04. Comstock Resources had a positive return on equity of 3.65% and a negative net margin of 5.05%.The firm had revenue of $470.26 million during the quarter, compared to analyst estimates 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. Analysts anticipate that Comstock Resources will post 0.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Comstock Resources

Large investors have recently made changes to their positions in the company. Fiduciary Alliance LLC boosted its position in shares of Comstock Resources by 96.7% during the third quarter. Fiduciary Alliance LLC now owns 36,622 shares of the oil and gas producer's stock valued at $726,000 after buying an additional 18,007 shares during the period. Moody National Bank Trust Division purchased a new stake in shares of Comstock Resources during the third quarter valued at $297,000. Osaic Holdings Inc. boosted its holdings in 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 purchasing an additional 7,185 shares during the last quarter. Orion Porfolio Solutions LLC purchased a new stake in Comstock Resources in the second quarter valued at $307,000. Finally, Castleark Management LLC purchased a new stake in shares of Comstock Resources during the 2nd quarter worth about $253,000. 36.13% of the stock is owned by institutional investors.

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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