Comstock Resources (NYSE:CRK) Sets New 12-Month Low – What’s Next?

Comstock Resources, Inc. (NYSE:CRK) hit a new 52-week low on Thursday . The company traded as low as $14.08 and last traded at $14.20, with a volume of 628246 shares changing hands. The stock had previously closed at $14.34.

Analyst Ratings Changes

CRK has been the subject of a number of research analyst reports. Wall Street Zen downgraded Comstock Resources from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. Morgan Stanley set a $19.00 price objective on shares of Comstock Resources in a research report on Friday, February 13th. UBS Group reaffirmed a “sell” rating and set a $13.00 price objective (down from $17.00) on shares of Comstock Resources in a research report on Monday, May 11th. Citigroup reaffirmed a “neutral” rating on shares of Comstock Resources in a research report on Wednesday, April 15th. Finally, Williams Trading set a $16.00 price objective on shares of Comstock Resources in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Comstock Resources currently has an average rating of “Reduce” and a consensus price target of $19.89.

Comstock Resources Stock Performance

The stock has a market capitalization of $4.17 billion, a P/E ratio of 6.48 and a beta of 0.22. The stock has a 50 day moving average of $18.16 and a 200 day moving average of $20.92. 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 (NYSE:CRK) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). The company had revenue of $587.35 million for the quarter, compared to the consensus estimate of $554.02 million. Comstock Resources had a return on equity of 5.54% and a net margin of 27.18%.Comstock Resources’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.18 earnings per share. Equities analysts predict that Comstock Resources, Inc. will post 0.75 EPS for the current year.

Insider Buying and Selling

In other Comstock Resources news, VP Patrick Mcgough sold 48,915 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $21.20, for a total value of $1,036,998.00. Following the completion of the transaction, the vice president owned 187,516 shares in the company, valued at approximately $3,975,339.20. This represents a 20.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Rothschild Investment LLC grew its position in 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 last quarter. Advisory Services Network LLC bought a new position in shares of Comstock Resources in the third quarter worth $27,000. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Comstock Resources in the first quarter worth $29,000. Kemnay Advisory Services Inc. bought a new position in shares of Comstock Resources in the fourth quarter worth $29,000. Finally, Jones Financial Companies Lllp grew its stake in shares of Comstock Resources by 671.2% in the third quarter. Jones Financial Companies Lllp now owns 1,581 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 1,376 shares in the last quarter. 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.