Comstock Resources (NYSE:CRK) Stock Price Up 6.7% – Time to Buy?

Comstock Resources, Inc. (NYSE:CRK) shares were up 6.7% during trading on Monday . The stock traded as high as $14.30 and last traded at $14.3150. Approximately 280,578 shares were traded during trading, a decline of 89% from the average session volume of 2,512,315 shares. The stock had previously closed at $13.41.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CRK shares. Zacks Research cut Comstock Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 16th. Morgan Stanley set a $16.00 target price on Comstock Resources and gave the company an “equal weight” rating in a report on Monday, June 29th. Wall Street Zen downgraded Comstock Resources from a “sell” rating to a “strong sell” rating in a research report on Sunday. Weiss Ratings reiterated a “hold (c)” rating on shares of Comstock Resources in a research note on Wednesday, May 20th. Finally, Roth Capital reissued a “neutral” rating on shares of Comstock Resources in a research report on Thursday, July 30th. Six investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $15.00.

Comstock Resources Stock Performance

The stock has a fifty day moving average of $13.45 and a 200-day moving average of $16.98. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $4.21 billion, a PE ratio of 8.06 and a beta of 0.13.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.03 earnings per share (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 business had revenue of $353.28 million during the quarter, compared to analysts’ expectations of $419.22 million. During the same quarter last year, the business posted $0.13 EPS. The business’s quarterly revenue was down 24.9% compared to the same quarter last year. Equities analysts anticipate that Comstock Resources, Inc. will post 0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Comstock Resources

Institutional investors and hedge funds have recently modified their holdings of the company. Liontrust Investment Partners LLP grew its position in shares of Comstock Resources by 877.8% in the 1st quarter. Liontrust Investment Partners LLP now owns 128,938 shares of the oil and gas producer’s stock valued at $2,718,000 after buying an additional 115,752 shares during the last quarter. Goehring & Rozencwajg Associates LLC increased its position in shares of Comstock Resources by 34.8% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 861,858 shares of the oil and gas producer’s stock worth $18,168,000 after purchasing an additional 222,569 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Comstock Resources by 143.2% in the 1st quarter. First Trust Advisors LP now owns 1,079,633 shares of the oil and gas producer’s stock valued at $22,759,000 after purchasing an additional 635,781 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Comstock Resources during the 1st quarter worth approximately $2,780,000. Finally, BW Gestao de Investimentos Ltda. increased its position in Comstock Resources by 163.7% during the fourth quarter. BW Gestao de Investimentos Ltda. now owns 152,100 shares of the oil and gas producer’s stock worth $3,526,000 after buying an additional 94,418 shares during the period. Institutional investors and hedge funds 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.