Comstock Resources (NYSE:CRK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Comstock Resources (NYSE:CRK) from a sell rating to a hold rating in a research note released on Saturday morning.

A number of other equities analysts also recently commented on the stock. Bank of America downgraded shares of Comstock Resources from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $27.00 to $24.00 in a report on Friday, January 16th. Morgan Stanley set a $19.00 price objective on shares of Comstock Resources in a report on Friday, February 13th. Citigroup raised their price objective on shares of Comstock Resources from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, March 31st. UBS Group set a $17.00 price objective on shares of Comstock Resources in a report on Friday, February 13th. Finally, Mizuho lifted their price target on shares of Comstock Resources from $21.00 to $29.00 and gave the company a “neutral” rating in a report on Friday, December 12th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $20.88.

Comstock Resources Price Performance

NYSE:CRK opened at $17.29 on Friday. The company has a 50-day moving average of $20.17 and a 200-day moving average of $21.48. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 12.26 and a beta of 0.39. Comstock Resources has a 52 week low of $14.65 and a 52 week high of $31.17. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.49.

Comstock Resources (NYSE:CRK) last released its quarterly earnings data on Wednesday, February 11th. The oil and gas producer reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. The company had revenue of $787.32 million during the quarter, compared to the consensus estimate of $504.66 million. Comstock Resources had a net margin of 17.80% and a return on equity of 6.30%. The firm’s revenue for the quarter was up 115.5% compared to the same quarter last year. During the same period last year, the firm earned $0.16 EPS. As a group, equities research analysts anticipate that Comstock Resources will post 0.54 earnings per share for the current fiscal year.

Insider Transactions at Comstock Resources

In related news, VP Patrick Mcgough sold 48,915 shares of Comstock Resources stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $21.20, for a total transaction of $1,036,998.00. Following the completion of the transaction, the vice president directly owned 187,516 shares of the company’s stock, valued at $3,975,339.20. This trade represents a 20.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Comstock Resources

A number of institutional investors have recently modified their holdings of CRK. AQR Capital Management LLC bought a new position in shares of Comstock Resources in the first quarter worth about $627,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Comstock Resources by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,236 shares of the oil and gas producer’s stock worth $1,124,000 after acquiring an additional 2,697 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Comstock Resources by 67.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,086,868 shares of the oil and gas producer’s stock worth $22,107,000 after acquiring an additional 437,476 shares during the last quarter. Intech Investment Management LLC raised its stake in shares of Comstock Resources by 26.0% in the first quarter. Intech Investment Management LLC now owns 65,289 shares of the oil and gas producer’s stock worth $1,328,000 after acquiring an additional 13,485 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Comstock Resources in the second quarter worth about $93,000. 36.13% of the stock is owned by institutional investors.

Comstock Resources Company Profile

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.