Comstock Resources, Inc. (NYSE:CRK) Stock Now Rated "Reduce" by Wall Street Analysts

Key Points

• Wall Street has a bearish-to-neutral view: Fourteen analysts rate Comstock Resources “Reduce” overall, including four sell ratings and ten holds. The average 12-month price target is $15.75, above the stock’s reported $13.13 opening price.
• Recent operating results were mixed: Quarterly EPS of $0.03 exceeded the $0.02 consensus estimate, but revenue of $353.28 million fell short of estimates and declined 24.9% year over year.
• Institutional investors and hedge funds own 36.13% of Comstock’s shares, while the stock remains well below its 52-week high of $28.10 and trades near its $12.12 low.

Shares of Comstock Resources, Inc. (NYSE:CRK - Get Free Report) have been assigned an average recommendation of "Reduce" from the fourteen research firms that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell recommendation and ten have issued a hold recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $15.75.

Several research firms have recently weighed in on CRK. Mizuho upped their target price on shares of Comstock Resources from $19.00 to $20.00 and gave the stock a "neutral" rating in a report on Tuesday, September 1st. The Goldman Sachs Group lifted their price target on shares of Comstock Resources from $9.00 to $15.00 and gave the company a "sell" rating in a report on Wednesday, September 2nd. Zacks Research lowered shares of Comstock Resources from a "hold" rating to a "strong sell" rating in a research report on Thursday, July 16th. Truist Financial began coverage on shares of Comstock Resources in a research note on Thursday, September 17th. They set a "hold" rating and a $16.00 price objective on the stock. Finally, Cantor Fitzgerald reissued a "neutral" rating on shares of Comstock Resources in a report on Wednesday, September 2nd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rothschild Investment LLC raised its stake in shares of Comstock Resources by 740.4% in 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 during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Comstock Resources during the second quarter worth approximately $26,000. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Comstock Resources during the first quarter valued at approximately $29,000. Hantz Financial Services Inc. grew 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 valued at $33,000 after purchasing an additional 1,290 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Comstock Resources during the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 36.13% of the company's stock.

Comstock Resources Price Performance

Shares of CRK stock opened at $13.13 on Friday. The stock's fifty day simple moving average is $13.89 and its 200 day simple moving average is $15.33. Comstock Resources has a one year low of $12.12 and a one year high of $28.10. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of 7.38 and a beta of 0.14. 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 released its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. The firm had revenue of $353.28 million during the quarter, compared to analyst estimates of $419.22 million. Comstock Resources had a return on equity of 4.12% and a net margin of 23.31%.The business's revenue for the quarter was down 24.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 earnings per share. On average, analysts expect that Comstock Resources will post 0.27 earnings per share for the current fiscal year.

Comstock Resources Company Profile

Comstock Resources, Inc is an independent exploration and production company focused on finding, developing, acquiring and producing oil and natural gas in the United States. Its operations are primarily centered on natural gas and natural gas liquids, with production sold to commercial customers, utilities, marketers and other participants in energy markets.

The company's principal assets are located in the Haynesville and Bossier shale plays in North Louisiana and East Texas, one of the largest natural gas-producing regions in the United States.

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