Comstock Resources, Inc. (NYSE:CRK) Receives Average Recommendation of “Hold” from Analysts

Shares of Comstock Resources, Inc. (NYSE:CRK) have been given an average rating of “Hold” by the ten ratings firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $10.25.

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Comstock Resources from $9.00 to $10.00 and gave the company a “sell” rating in a research report on Tuesday, May 28th. Piper Sandler dropped their target price on shares of Comstock Resources from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Thursday, March 7th. StockNews.com raised shares of Comstock Resources to a “sell” rating in a report on Monday, April 29th. Capital One Financial cut shares of Comstock Resources from an “overweight” rating to an “equal weight” rating in a report on Wednesday, May 15th. Finally, KeyCorp initiated coverage on shares of Comstock Resources in a report on Thursday. They issued a “sector weight” rating for the company.

Institutional Trading of Comstock Resources

A number of hedge funds have recently bought and sold shares of CRK. KGH Ltd boosted its position in Comstock Resources by 119.3% during the third quarter. KGH Ltd now owns 8,586,000 shares of the oil and gas producer’s stock worth $94,704,000 after acquiring an additional 4,670,959 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Comstock Resources by 29.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,139,351 shares of the oil and gas producer’s stock worth $72,035,000 after acquiring an additional 1,833,302 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in Comstock Resources during the first quarter worth approximately $5,643,000. Readystate Asset Management LP boosted its position in Comstock Resources by 718.7% during the fourth quarter. Readystate Asset Management LP now owns 603,846 shares of the oil and gas producer’s stock worth $5,344,000 after acquiring an additional 530,090 shares during the last quarter. Finally, CastleKnight Management LP acquired a new stake in Comstock Resources during the fourth quarter worth approximately $3,167,000. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Price Performance

Shares of NYSE:CRK opened at $10.38 on Monday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.09. The company has a market cap of $3.03 billion, a P/E ratio of 47.18 and a beta of 0.60. Comstock Resources has a 52 week low of $7.07 and a 52 week high of $13.39. The company has a 50-day moving average price of $10.84 and a 200 day moving average price of $9.34.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. The firm had revenue of $335.77 million during the quarter, compared to the consensus estimate of $343.97 million. Comstock Resources had a net margin of 4.27% and a return on equity of 1.25%. The firm’s revenue was down 31.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 earnings per share. Research analysts predict that Comstock Resources will post -0.09 earnings per share for the current year.

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.