Comstock Resources (NYSE:CRK) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Comstock Resources from “strong sell” to “sell,” but the stock retains a consensus “Reduce” rating with an average analyst price target of $15.00.
• Comstock reported quarterly EPS of $0.03, beating estimates by $0.01, while revenue of $353.28 million fell short of expectations and declined 24.9% year over year.
• CRK opened at $14.05 and remains well below its 52-week high of $28.10; the company has a $4.13 billion market capitalization, and institutional investors own 36.13% of its shares.

Comstock Resources (NYSE:CRK - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued to clients and investors on Monday.

CRK has been the topic of several other research reports. The Goldman Sachs Group dropped their price objective on shares of Comstock Resources from $13.00 to $10.00 and set a "sell" rating on the stock in a research note on Tuesday, June 30th. Morgan Stanley set a $16.00 price target on shares of Comstock Resources and gave the company an "equal weight" rating in a report on Monday, June 29th. UBS Group reissued a "sell" rating and set a $13.00 price objective (down from $17.00) on shares of Comstock Resources in a report on Monday, May 11th. Zacks Research lowered shares of Comstock Resources from a "hold" rating to a "strong sell" rating in a research report on Thursday, July 16th. Finally, Williams Trading set a $16.00 target price on shares of Comstock Resources in a report on Thursday, May 14th. Six analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $15.00.

Comstock Resources Stock Performance

CRK opened at $14.05 on Monday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.98. The firm has a market cap of $4.13 billion, a PE ratio of 7.90 and a beta of 0.13. The business has a fifty day simple moving average of $13.52 and a 200-day simple moving average of $16.63. Comstock Resources has a fifty-two week low of $12.12 and a fifty-two week high of $28.10.

Comstock Resources (NYSE:CRK - Get Free Report) last announced its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. Comstock Resources had a return on equity of 4.12% and a net margin of 23.31%.The business had revenue of $353.28 million during the quarter, compared to the consensus estimate of $419.22 million. During the same period in the prior year, the business posted $0.13 earnings per share. Comstock Resources's revenue was down 24.9% compared to the same quarter last year. As a group, equities analysts predict that Comstock Resources will post 0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Comstock Resources

Several large investors have recently made changes to their positions in CRK. Rothschild Investment LLC raised its holdings in Comstock Resources by 740.4% during the fourth 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 in the last quarter. Kemnay Advisory Services Inc. bought a new position in Comstock Resources during the fourth quarter worth about $29,000. Advisory Services Network LLC acquired a new position in shares of Comstock Resources during the 3rd quarter worth approximately $27,000. Hantz Financial Services Inc. increased its holdings in shares of Comstock Resources by 877.6% in 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 during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in Comstock Resources in the 1st quarter valued at about $29,000. Institutional investors own 36.13% of the company's stock.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source