Comstock Resources (NYSE:CRK) Stock Price Down 4.2% - Should You Sell?

Key Points

• Comstock Resources shares fell 4.2% to $13.7050, with trading volume about 90% below its average. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is cautious: eight analysts rate CRK a Hold and four rate it a Sell, resulting in an average “Reduce” rating and a $15.90 price target.
• The latest quarter showed mixed results: earnings of $0.03 per share exceeded estimates, but revenue of $353.28 million missed expectations and declined 24.9% year over year.

Shares of Comstock Resources, Inc. (NYSE:CRK - Get Free Report) dropped 4.2% on Wednesday . The stock traded as low as $13.59 and last traded at $13.7050. Approximately 249,936 shares changed hands during trading, a decline of 90% from the average daily volume of 2,513,051 shares. The stock had previously closed at $14.31.

Wall Street Analyst Weigh In

CRK has been the topic of a number of recent analyst reports. Mizuho upped their target price on shares of Comstock Resources from $19.00 to $20.00 and gave the company a "neutral" rating in a research note on Tuesday, September 1st. UBS Group set a $14.00 price target on Comstock Resources and gave the stock a "sell" rating in a research note on Wednesday, September 9th. Roth Capital reissued a "neutral" rating and issued a $14.00 price objective on shares of Comstock Resources in a report on Tuesday, September 1st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Comstock Resources in a report on Monday, August 17th. Finally, Citigroup cut their target price on Comstock Resources from $19.00 to $16.00 and set a "neutral" rating for the company in a research report on Monday, July 20th. Eight analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $15.90.

Comstock Resources Trading Down 6.4%

The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 7.50 and a beta of 0.14. The company has a fifty day moving average price of $13.90 and a 200-day moving average price of $15.70. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.98.

Comstock Resources (NYSE:CRK - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. The firm had revenue of $353.28 million for the quarter, compared to analyst estimates of $419.22 million. Comstock Resources had a net margin of 23.31% and a return on equity of 4.12%. The company's revenue for the quarter was down 24.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.13 earnings per share. On average, equities research analysts predict that Comstock Resources, Inc. will post 0.35 EPS for the current year.

Institutional Investors Weigh In On Comstock Resources

Large investors have recently bought and sold shares of the business. Old West Investment Management LLC bought a new position in Comstock Resources in the 2nd quarter worth approximately $4,104,000. BlackRock Inc. bought a new stake in shares of Comstock Resources in the second quarter valued at approximately $176,583,000. GSA Capital Partners LLP acquired a new stake in shares of Comstock Resources in the second quarter worth $2,028,000. Liontrust Investment Partners LLP grew its stake in shares of Comstock Resources by 877.8% in the first quarter. Liontrust Investment Partners LLP now owns 128,938 shares of the oil and gas producer's stock worth $2,718,000 after acquiring an additional 115,752 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Comstock Resources during the first quarter worth $2,780,000. 36.13% of the stock is currently owned by institutional investors.

About Comstock Resources

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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