Comstock Resources (NYSE:CRK) Raised to “Hold” at Zacks Research

Comstock Resources (NYSE:CRK) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

CRK has been the subject of several other research reports. UBS Group lifted their price objective on Comstock Resources from $14.00 to $16.00 and gave the company a “sell” rating in a research note on Thursday, November 6th. Piper Sandler set a $9.00 price target on Comstock Resources and gave the company an “underweight” rating in a research report on Tuesday, October 21st. Roth Capital cut shares of Comstock Resources from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $18.00 to $12.00 in a research report on Monday, August 18th. Mizuho set a $21.00 target price on shares of Comstock Resources and gave the company a “neutral” rating in a research note on Thursday, October 16th. Finally, Weiss Ratings upgraded shares of Comstock Resources from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, November 7th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Comstock Resources currently has a consensus rating of “Reduce” and an average target price of $19.70.

Comstock Resources Price Performance

Shares of Comstock Resources stock traded up $0.25 on Wednesday, reaching $25.28. The stock had a trading volume of 3,688,026 shares, compared to its average volume of 2,563,210. The business’s 50 day moving average is $19.12 and its two-hundred day moving average is $20.77. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.24. Comstock Resources has a 1 year low of $13.20 and a 1 year high of $31.17. The company has a market cap of $7.41 billion, a P/E ratio of -105.31 and a beta of 0.24.

Comstock Resources (NYSE:CRK) last posted its earnings results on Monday, November 3rd. The oil and gas producer reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. Comstock Resources had a negative net margin of 5.05% and a positive return on equity of 3.65%. The business had revenue of $449.85 million for the quarter, compared to analyst estimates of $433.54 million. During the same quarter in the prior year, the firm posted ($0.17) EPS. Comstock Resources’s revenue was up 47.8% on a year-over-year basis. As a group, research analysts anticipate that Comstock Resources will post 0.54 EPS for the current year.

Hedge Funds Weigh In On Comstock Resources

Several institutional investors and hedge funds have recently bought and sold shares of CRK. Legacy Investment Solutions LLC purchased a new stake in shares of Comstock Resources during the second quarter valued at approximately $29,000. Atlantic Union Bankshares Corp bought a new position in shares of Comstock Resources during the second quarter valued at about $34,000. Jones Financial Companies Lllp boosted its holdings in shares of Comstock Resources by 671.2% during 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 during the period. iSAM Funds UK Ltd purchased a new position in Comstock Resources during the 3rd quarter valued at about $38,000. Finally, Nisa Investment Advisors LLC raised its position in Comstock Resources by 129.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer’s stock valued at $42,000 after purchasing an additional 1,170 shares during the last quarter. 36.13% of the stock is currently owned by institutional investors.

About Comstock Resources

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. Its assets are located in the Haynesville and Bossier shales located in North Louisiana and East Texas. The company was incorporated in 1919 and is headquartered in Frisco, Texas.