Comstock Resources, Inc. (NYSE:CRK) Receives $15.11 Consensus Target Price from Analysts

Shares of Comstock Resources, Inc. (NYSE:CRK) have received a consensus rating of “Reduce” from the twelve research firms that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $15.80.

A number of analysts have recently issued reports on the company. Cantor Fitzgerald restated a “neutral” rating on shares of Comstock Resources in a report on Wednesday, September 2nd. BMO Capital Markets reiterated a “market perform” rating and set a $17.00 price target (up from $13.00) on shares of Comstock Resources in a report on Wednesday, September 2nd. UBS Group reissued a “sell” rating on shares of Comstock Resources in a research report on Wednesday, September 2nd. Citigroup reduced their price objective on Comstock Resources from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, July 20th. Finally, Mizuho raised their price objective on Comstock Resources from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 1st.

Institutional Trading of Comstock Resources

A number of hedge funds have recently made changes to their positions in the stock. Rothschild Investment LLC increased its stake in Comstock Resources by 740.4% in the 4th 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 during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Comstock Resources during the 2nd quarter valued at $26,000. Advisory Services Network LLC acquired a new stake in shares of Comstock Resources during the 3rd quarter valued at $27,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Comstock Resources during the 1st quarter valued at $29,000. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of Comstock Resources during the 4th quarter valued at $29,000. 36.13% of the stock is owned by hedge funds and other institutional investors.

Comstock Resources Stock Down 0.6%

Shares of NYSE:CRK opened at $15.17 on Wednesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.48 and a current ratio of 0.48. The company has a market cap of $4.46 billion, a PE ratio of 8.52 and a beta of 0.14. Comstock Resources has a 52 week low of $12.12 and a 52 week high of $28.10. The firm has a 50 day simple moving average of $13.88 and a 200 day simple moving average of $15.85.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data 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 net margin of 23.31% and a return on equity of 4.12%. The firm had revenue of $353.28 million during the quarter, compared to analyst estimates of $419.22 million. During the same quarter last year, the business posted $0.13 EPS. The company’s revenue was down 24.9% on a year-over-year basis. As a group, research analysts expect that Comstock Resources will post 0.4 earnings per share for the current year.

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.