Comstock Resources (NYSE:CRK) was upgraded by ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued to investors on Wednesday, ValuEngine reports.

CRK has been the subject of a number of other reports. MKM Partners initiated coverage on Comstock Resources in a research report on Wednesday, December 18th. They issued a “hold” rating and a $8.00 price objective for the company. SunTrust Banks initiated coverage on Comstock Resources in a research note on Wednesday, December 18th. They issued a “buy” rating and a $9.00 price target on the stock. Finally, Seaport Global Securities lowered Comstock Resources from a “buy” rating to a “neutral” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $8.40.

Shares of Comstock Resources stock traded down $0.34 on Wednesday, reaching $7.17. The company’s stock had a trading volume of 336,417 shares, compared to its average volume of 495,192. The company has a market capitalization of $1.40 billion, a P/E ratio of 8.70 and a beta of 1.43. Comstock Resources has a 52-week low of $4.17 and a 52-week high of $10.70. The stock has a 50-day moving average price of $7.19 and a 200-day moving average price of $6.84. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 2.35.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Thursday, November 7th. The oil and gas producer reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.03. The business had revenue of $224.44 million during the quarter, compared to analysts’ expectations of $234.00 million. Comstock Resources had a return on equity of 15.14% and a net margin of 14.55%. Sell-side analysts forecast that Comstock Resources will post 0.72 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the company. Rhumbline Advisers boosted its stake in Comstock Resources by 41.7% during the third quarter. Rhumbline Advisers now owns 20,059 shares of the oil and gas producer’s stock worth $156,000 after buying an additional 5,905 shares during the last quarter. Millennium Management LLC boosted its stake in Comstock Resources by 235.7% during the third quarter. Millennium Management LLC now owns 62,529 shares of the oil and gas producer’s stock worth $487,000 after buying an additional 43,902 shares during the last quarter. Caymus Capital Partners L.P. acquired a new position in Comstock Resources during the third quarter worth $6,860,000. Vanguard Group Inc. boosted its stake in Comstock Resources by 12.4% during the second quarter. Vanguard Group Inc. now owns 637,641 shares of the oil and gas producer’s stock worth $3,552,000 after buying an additional 70,212 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Comstock Resources by 4.1% during the third quarter. First Trust Advisors LP now owns 46,202 shares of the oil and gas producer’s stock worth $360,000 after buying an additional 1,809 shares during the last quarter. 3.25% of the stock is currently owned by hedge funds and other institutional investors.

Comstock Resources Company Profile

Comstock Resources, Inc and its subsidiaries engage in the acquisition, exploration for, development, and production of oil and natural gas properties, primarily in Texas, Louisiana, and North Dakota. The company is headquartered in Frisco, Texas.

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Analyst Recommendations for Comstock Resources (NYSE:CRK)

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