Comstock Resources (NYSE:CRK) Raised to “Neutral” at Roth Capital

Comstock Resources (NYSE:CRK) was upgraded by investment analysts at Roth Capital from a “sell” rating to a “neutral” rating in a research note issued to investors on Friday, MarketBeat.com reports. The firm currently has a $13.00 target price on the oil and gas producer’s stock. Roth Capital’s price target points to a potential downside of 0.04% from the company’s current price.

A number of other research firms have also weighed in on CRK. Mizuho cut their target price on shares of Comstock Resources from $25.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. Williams Trading set a $16.00 target price on shares of Comstock Resources in a research note on Thursday, May 14th. Wall Street Zen downgraded shares of Comstock Resources from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 9th. UBS Group restated a “sell” rating and issued a $13.00 price target (down from $17.00) on shares of Comstock Resources in a research report on Monday, May 11th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Comstock Resources in a report on Wednesday, April 15th. Seven analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $16.11.

Comstock Resources Stock Performance

Comstock Resources stock traded down $0.69 during mid-day trading on Friday, hitting $13.01. The company had a trading volume of 1,587,993 shares, compared to its average volume of 2,523,993. The company’s fifty day moving average is $14.12 and its 200-day moving average is $18.36. Comstock Resources has a 12-month low of $12.44 and a 12-month high of $28.10. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of 5.94 and a beta of 0.10. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.96.

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

Institutional Investors Weigh In On Comstock Resources

A number of institutional investors have recently modified their holdings of CRK. Rothschild Investment LLC raised its stake 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 buying an additional 1,007 shares in the last quarter. Kemnay Advisory Services Inc. bought a new position in shares of Comstock Resources during the 4th quarter valued at $29,000. Advisory Services Network LLC bought a new position in Comstock Resources in the 3rd quarter worth approximately $27,000. Hantz Financial Services Inc. lifted its position in 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 valued at $33,000 after purchasing an additional 1,290 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in shares of Comstock Resources in the 1st quarter valued at about $29,000. 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.