Comstock Resources (NYSE:CRK) Rating Increased to Neutral at Roth Capital

Roth Capital upgraded shares of Comstock Resources (NYSE:CRK) from a sell rating to a neutral rating in a research note issued to investors on Friday morning, Marketbeat.com reports. The firm currently has $13.00 price target on the oil and gas producer’s stock.

A number of other brokerages also recently commented on CRK. Citigroup reaffirmed a “neutral” rating on shares of Comstock Resources in a research report on Wednesday, April 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Comstock Resources in a report on Wednesday, May 20th. Williams Trading set a $16.00 price target on Comstock Resources in a report on Thursday, May 14th. The Goldman Sachs Group lowered their price target on Comstock Resources from $13.00 to $10.00 and set a “sell” rating for the company in a research note on Tuesday, June 30th. Finally, Mizuho dropped their price objective on Comstock Resources from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, May 27th. Seven equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Comstock Resources presently has a consensus rating of “Reduce” and a consensus price target of $16.11.

Comstock Resources Stock Down 5.8%

Shares of Comstock Resources stock traded down $0.79 on Friday, hitting $12.90. 3,280,457 shares of the company traded hands, compared to its average volume of 2,304,234. The company has a 50-day moving average price of $14.03 and a 200 day moving average price of $18.33. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.96. Comstock Resources has a 12-month low of $12.44 and a 12-month high of $28.10. The company has a market cap of $3.79 billion, a PE ratio of 5.89 and a beta of 0.10.

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

Institutional Investors Weigh In On Comstock Resources

A number of large investors have recently bought and sold shares of CRK. Rothschild Investment LLC raised its holdings in Comstock Resources by 740.4% during the fourth quarter. Rothschild Investment LLC now owns 1,143 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 1,007 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new stake in shares of Comstock Resources in the fourth quarter worth about $29,000. Advisory Services Network LLC bought a new stake in shares of Comstock Resources during the 3rd quarter worth about $27,000. Hantz Financial Services Inc. boosted its stake in shares of 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 worth $33,000 after acquiring an additional 1,290 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Comstock Resources during the 1st quarter valued at about $29,000. 36.13% of the stock is currently owned by institutional investors.

About Comstock Resources

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.