Comstock Resources (NYSE:CRK) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Comstock Resources (NYSE:CRK) from a strong sell rating to a sell rating in a report published on Saturday morning.

Several other analysts have also recently commented on the company. Citigroup lowered their price target on Comstock Resources from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, July 20th. Zacks Research lowered shares of Comstock Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, July 16th. Williams Trading set a $16.00 target price on shares of Comstock Resources in a research report on Thursday, May 14th. Mizuho lowered their target price on shares of Comstock Resources from $25.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. Finally, The Goldman Sachs Group lowered their target price on shares of Comstock Resources from $13.00 to $10.00 and set a “sell” rating for the company in a report on Tuesday, June 30th. Six investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Comstock Resources presently has a consensus rating of “Reduce” and a consensus price target of $15.22.

Comstock Resources Price Performance

CRK stock opened at $13.22 on Friday. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 7.43 and a beta of 0.10. The company has a quick ratio of 0.41, a current ratio of 0.48 and a debt-to-equity ratio of 0.98. Comstock Resources has a 52-week low of $12.12 and a 52-week high of $28.10. The stock’s fifty day simple moving average is $13.47 and its 200-day simple moving average is $17.30.

Comstock Resources (NYSE:CRK) last released its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. Comstock Resources had a return on equity of 4.12% and a net margin of 23.31%.The firm had revenue of $353.28 million during the quarter, compared to analyst estimates of $419.22 million. During the same period in the prior year, the firm posted $0.13 earnings per share. The business’s quarterly revenue was down 24.9% compared to the same quarter last year. Equities research analysts expect that Comstock Resources will post 0.5 EPS for the current year.

Institutional Investors Weigh In On Comstock Resources

A number of institutional investors have recently added to or reduced their stakes in CRK. Rothschild Investment LLC raised its holdings in shares of Comstock Resources by 740.4% in the 4th 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. purchased a new stake in shares of Comstock Resources during the 4th quarter worth about $29,000. Advisory Services Network LLC purchased a new stake in shares of Comstock Resources during the 3rd quarter worth about $27,000. Hantz Financial Services Inc. grew its holdings 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 during the period. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in Comstock Resources during the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

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.