Comstock Resources (NYSE:CRK) Upgraded to Sell by ValuEngine

ValuEngine upgraded shares of Comstock Resources (NYSE:CRK) from a strong sell rating to a sell rating in a research report released on Wednesday, ValuEngine reports.

A number of other brokerages have also weighed in on CRK. SunTrust Banks began coverage on shares of Comstock Resources in a research note on Wednesday, December 18th. They set a buy rating and a $9.00 target price on the stock. Seaport Global Securities cut shares of Comstock Resources from a buy rating to a neutral rating in a report on Thursday, October 10th. Finally, MKM Partners started coverage on shares of Comstock Resources in a report on Wednesday, December 18th. They issued a hold rating and a $8.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Comstock Resources currently has a consensus rating of Hold and an average target price of $8.40.

Shares of CRK traded up $0.32 during trading hours on Wednesday, reaching $7.49. 121,618 shares of the company traded hands, compared to its average volume of 476,346. The company’s fifty day moving average price is $7.19 and its two-hundred day moving average price is $6.84. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 8.73 and a beta of 1.43. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 2.35. Comstock Resources has a 12 month low of $4.17 and a 12 month high of $10.70.

Comstock Resources (NYSE:CRK) last announced its earnings results on Thursday, November 7th. The oil and gas producer reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The firm had revenue of $224.44 million for the quarter, compared to analyst estimates of $234.00 million. Comstock Resources had a net margin of 14.55% and a return on equity of 15.14%. On average, analysts expect that Comstock Resources will post 0.72 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its holdings in shares of Comstock Resources by 41.7% during the third quarter. Rhumbline Advisers now owns 20,059 shares of the oil and gas producer’s stock valued at $156,000 after purchasing an additional 5,905 shares during the last quarter. Millennium Management LLC increased its holdings in Comstock Resources by 235.7% during the third quarter. Millennium Management LLC now owns 62,529 shares of the oil and gas producer’s stock valued at $487,000 after buying an additional 43,902 shares during the last quarter. Caymus Capital Partners L.P. purchased a new stake in Comstock Resources during the third quarter valued at approximately $6,860,000. Vanguard Group Inc. increased its holdings in Comstock Resources by 12.4% during the second quarter. Vanguard Group Inc. now owns 637,641 shares of the oil and gas producer’s stock valued at $3,552,000 after buying an additional 70,212 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in Comstock Resources by 4.1% during the third quarter. First Trust Advisors LP now owns 46,202 shares of the oil and gas producer’s stock valued at $360,000 after buying an additional 1,809 shares during the last quarter. 3.25% of the stock is owned by hedge funds and other institutional investors.

Comstock Resources Company Profile

Comstock Resources, Inc and its subsidiaries engage in the acquisition, exploration for, development, and production of oil and natural gas properties, primarily in Texas, Louisiana, and North Dakota. The company is headquartered in Frisco, Texas.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Comstock Resources (NYSE:CRK)

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