Comstock Resources (NYSE:CRK) Downgraded to Strong Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Comstock Resources (NYSE:CRK) from a sell rating to a strong sell rating in a research note released on Sunday morning.

Other analysts also recently issued research reports about the company. Citigroup dropped their price target on Comstock Resources from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, July 20th. Williams Trading set a $16.00 price objective on shares of Comstock Resources in a research report on Thursday, May 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Comstock Resources in a research note on Wednesday, May 20th. Morgan Stanley set a $16.00 target price on shares of Comstock Resources and gave the company an “equal weight” rating in a research report on Monday, June 29th. Finally, Zacks Research cut shares of Comstock Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 16th. Six investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $15.22.

Comstock Resources Trading Up 0.3%

Shares of CRK stock opened at $13.45 on Friday. The company has a market capitalization of $3.95 billion, a PE ratio of 7.55 and a beta of 0.13. Comstock Resources has a 52-week low of $12.12 and a 52-week high of $28.10. The business’s fifty day moving average is $13.45 and its 200 day moving average is $16.98. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.48 and a current ratio of 0.48.

Comstock Resources (NYSE:CRK) last posted its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. The business had revenue of $353.28 million during the quarter, compared to analysts’ expectations of $419.22 million. Comstock Resources had a return on equity of 4.12% and a net margin of 23.31%.The firm’s revenue was down 24.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.13 earnings per share. On average, equities research analysts anticipate that Comstock Resources will post 0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Comstock Resources

A number of large investors have recently modified their holdings of the company. Rothschild Investment LLC boosted its stake 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 buying an additional 1,007 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Comstock Resources during the third quarter worth approximately $27,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Comstock Resources during the first quarter worth approximately $29,000. Kemnay Advisory Services Inc. purchased a new position in shares of Comstock Resources during the fourth quarter worth approximately $29,000. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Comstock Resources by 877.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,437 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 1,290 shares during the last quarter. 36.13% of the stock is owned by hedge funds and other 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.