Comstock Resources, Inc. (NYSE:CRK) Receives $15.22 Consensus Target Price from Brokerages

Comstock Resources, Inc. (NYSE:CRK) has received an average recommendation of “Reduce” from the ten brokerages that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $15.00.

Several equities research analysts recently issued reports on the stock. Roth Capital reissued a “neutral” rating on shares of Comstock Resources in a report on Thursday, July 30th. Mizuho set a $19.00 price target on shares of Comstock Resources in a report on Monday. UBS Group reiterated 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. Morgan Stanley set a $16.00 price objective on shares of Comstock Resources and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Finally, Wall Street Zen downgraded shares of Comstock Resources from a “sell” rating to a “strong sell” rating in a research report on Sunday, August 9th.

Comstock Resources Trading Up 3.5%

Shares of CRK stock opened at $14.05 on Friday. Comstock Resources has a 1 year low of $12.12 and a 1 year high of $28.10. The firm has a fifty day moving average price of $13.52 and a 200-day moving average price of $16.69. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.48 and a quick ratio of 0.48. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 7.90 and a beta of 0.13.

Comstock Resources (NYSE:CRK) last announced its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. Comstock Resources had a return on equity of 4.12% and a net margin of 23.31%.The company had revenue of $353.28 million for the quarter, compared to analysts’ expectations of $419.22 million. During the same period last year, the firm earned $0.13 EPS. Comstock Resources’s revenue for the quarter was down 24.9% compared to the same quarter last year. As a group, equities analysts predict that Comstock Resources will post 0.48 earnings per share for the current year.

Institutional Investors Weigh In On Comstock Resources

Institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC purchased a new stake in Comstock Resources during the 1st quarter valued at approximately $627,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Comstock Resources by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,236 shares of the oil and gas producer’s stock valued at $1,124,000 after acquiring an additional 2,697 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Comstock Resources by 67.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,086,868 shares of the oil and gas producer’s stock worth $22,107,000 after purchasing an additional 437,476 shares in the last quarter. Intech Investment Management LLC lifted its stake in Comstock Resources by 26.0% in the 1st quarter. Intech Investment Management LLC now owns 65,289 shares of the oil and gas producer’s stock worth $1,328,000 after purchasing an additional 13,485 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Comstock Resources during the 2nd quarter valued at about $93,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

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.