Comstock Resources (NYSE:CRK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Comstock Resources (NYSE:CRK) from a strong sell rating to a sell rating in a research report report published on Monday morning.

Other research analysts have also recently issued research reports about the stock. Citigroup dropped their target price on shares of Comstock Resources from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, July 20th. Zacks Research lowered shares of Comstock Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, July 16th. Williams Trading set a $16.00 price objective on shares of Comstock Resources in a research report on Thursday, May 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Comstock Resources in a research note on Wednesday, May 20th. Finally, The Goldman Sachs Group cut their target price on shares of Comstock Resources from $13.00 to $10.00 and set a “sell” rating on the stock in a research report on Tuesday, June 30th. Six analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $14.89.

Comstock Resources Price Performance

Comstock Resources stock opened at $13.51 on Monday. 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 has a 52 week low of $12.12 and a 52 week high of $28.10. The stock has a market capitalization of $3.97 billion, a P/E ratio of 7.59 and a beta of 0.13. The stock has a fifty day moving average of $13.55 and a 200-day moving average of $16.43.

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 for the quarter, topping 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 the consensus estimate of $419.22 million. During the same period in the prior year, the company earned $0.13 EPS. Comstock Resources’s revenue for the quarter was down 24.9% on a year-over-year basis. On average, sell-side analysts expect that Comstock Resources will post 0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Comstock Resources

Several large investors have recently bought and sold shares of CRK. Old West Investment Management LLC bought a new position in Comstock Resources in the 2nd quarter valued at approximately $4,104,000. Renaissance Technologies LLC acquired a new stake in Comstock Resources during the 1st quarter worth approximately $2,780,000. Liontrust Investment Partners LLP grew its holdings in Comstock Resources by 877.8% during the 1st quarter. Liontrust Investment Partners LLP now owns 128,938 shares of the oil and gas producer’s stock worth $2,718,000 after acquiring an additional 115,752 shares during the last quarter. Goehring & Rozencwajg Associates LLC grew its holdings in Comstock Resources by 34.8% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 861,858 shares of the oil and gas producer’s stock worth $18,168,000 after acquiring an additional 222,569 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Comstock Resources in the 2nd quarter valued at approximately $2,028,000. 36.13% of the stock is currently owned by 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.