Zacks Research Downgrades Comstock Resources (NYSE:CRK) to Strong Sell

Comstock Resources (NYSE:CRK) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Thursday,Zacks.com reports.

A number of other brokerages have also recently commented on CRK. Citigroup reaffirmed a “neutral” rating on shares of Comstock Resources in a research report on Wednesday, April 15th. Wall Street Zen lowered Comstock Resources from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 9th. The Goldman Sachs Group dropped their price objective on Comstock Resources from $13.00 to $10.00 and set a “sell” rating on the stock in a research note on Tuesday, June 30th. Mizuho cut their target price on Comstock Resources from $25.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Comstock Resources in a research note on Wednesday, May 20th. Six investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Comstock Resources currently has a consensus rating of “Reduce” and a consensus target price of $16.11.

Comstock Resources Trading Up 1.9%

NYSE:CRK opened at $13.35 on Thursday. The firm’s fifty day moving average is $13.77 and its 200-day moving average is $17.98. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.41 and a current ratio of 0.41. Comstock Resources has a 52 week low of $12.44 and a 52 week high of $28.10. The firm has a market cap of $3.92 billion, a P/E ratio of 6.09 and a beta of 0.10.

Comstock Resources (NYSE:CRK) last announced its earnings results on Tuesday, May 5th. The oil and gas producer reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). Comstock Resources had a return on equity of 5.54% and a net margin of 27.18%.The firm had revenue of $587.35 million for the quarter, compared to the consensus estimate of $554.01 million. During the same period in the prior year, the business earned $0.18 EPS. Comstock Resources’s quarterly revenue was up 14.5% on a year-over-year basis. Equities analysts expect that Comstock Resources will post 0.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rothschild Investment LLC grew its holdings in 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 purchasing an additional 1,007 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of Comstock Resources during the fourth quarter valued at about $29,000. Advisory Services Network LLC acquired a new position in shares of Comstock Resources during the third quarter valued at about $27,000. Hantz Financial Services Inc. boosted its position in shares of Comstock Resources by 877.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,437 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 1,290 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in shares of Comstock Resources during the 1st quarter worth about $29,000. 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.