Comstock Resources (NYSE:CRK) Stock Rating Upgraded by Zacks Research

Comstock Resources (NYSE:CRK) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

A number of other brokerages have also recently weighed in on CRK. Morgan Stanley dropped their price target on Comstock Resources from $21.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Monday, August 4th. Mizuho set a $21.00 target price on shares of Comstock Resources and gave the company a “neutral” rating in a research note on Thursday, October 16th. Piper Sandler set a $9.00 price target on Comstock Resources and gave the company an “underweight” rating in a report on Tuesday, October 21st. UBS Group increased their price objective on Comstock Resources from $14.00 to $16.00 and gave the stock a “sell” rating in a research note on Thursday, November 6th. Finally, Roth Capital cut Comstock Resources from a “neutral” rating to a “sell” rating and lowered their target price for the company from $18.00 to $12.00 in a research note on Monday, August 18th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $19.70.

Comstock Resources Stock Performance

Shares of CRK opened at $25.03 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.36 and a quick ratio of 0.36. The firm’s 50 day moving average is $19.12 and its 200-day moving average is $20.77. Comstock Resources has a 12-month low of $13.20 and a 12-month high of $31.17. The stock has a market capitalization of $7.33 billion, a P/E ratio of -104.28 and a beta of 0.24.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Monday, November 3rd. The oil and gas producer reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.05. Comstock Resources had a positive return on equity of 3.65% and a negative net margin of 5.05%.The company had revenue of $449.85 million for the quarter, compared to analysts’ expectations of $433.54 million. During the same quarter in the prior year, the company earned ($0.17) earnings per share. The firm’s revenue was up 47.8% on a year-over-year basis. Equities research analysts anticipate that Comstock Resources will post 0.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in shares of Comstock Resources in the second quarter worth about $29,000. Jones Financial Companies Lllp grew its holdings in Comstock Resources by 671.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,581 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 1,376 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Comstock Resources in the second quarter valued at approximately $34,000. Nisa Investment Advisors LLC grew its stake in shares of Comstock Resources by 129.3% in the first quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer’s stock worth $42,000 after acquiring an additional 1,170 shares during the last quarter. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Comstock Resources in the third quarter worth $44,000. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Comstock Resources Company Profile

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. Its assets are located in the Haynesville and Bossier shales located in North Louisiana and East Texas. The company was incorporated in 1919 and is headquartered in Frisco, Texas.