Comstock Resources (NYSE:CRK) Lowered to “Strong Sell” at ValuEngine

ValuEngine downgraded shares of Comstock Resources (NYSE:CRK) from a sell rating to a strong sell rating in a research report report published on Tuesday, ValuEngine reports.

Several other equities research analysts have also weighed in on the company. Seaport Global Securities lowered Comstock Resources from a buy rating to a neutral rating in a research report on Thursday, October 10th. SunTrust Banks initiated coverage on shares of Comstock Resources in a research report on Wednesday, December 18th. They issued a buy rating and a $9.00 price objective on the stock. Finally, MKM Partners assumed coverage on shares of Comstock Resources in a research note on Wednesday, December 18th. They set a hold rating and a $8.00 target price for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Comstock Resources currently has a consensus rating of Hold and a consensus price target of $8.40.

Shares of Comstock Resources stock traded up $0.03 during trading hours on Tuesday, reaching $6.60. The company’s stock had a trading volume of 20,966 shares, compared to its average volume of 433,126. Comstock Resources has a one year low of $4.17 and a one year high of $10.70. The company’s 50 day simple moving average is $7.29 and its 200 day simple moving average is $6.90. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market cap of $1.29 billion, a P/E ratio of 8.40 and a beta of 1.43.

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

Institutional investors have recently made changes to their positions in the business. Caymus Capital Partners L.P. acquired a new position in shares of Comstock Resources during the third quarter valued at $6,860,000. BlackRock Inc. lifted its holdings in shares of Comstock Resources by 187.6% in the second quarter. BlackRock Inc. now owns 1,087,908 shares of the oil and gas producer’s stock valued at $6,060,000 after buying an additional 709,665 shares during the period. Marshall Wace LLP acquired a new stake in shares of Comstock Resources in the second quarter valued at $767,000. Vanguard Group Inc. boosted its position in shares of Comstock Resources by 12.4% during the 2nd quarter. Vanguard Group Inc. now owns 637,641 shares of the oil and gas producer’s stock valued at $3,552,000 after purchasing an additional 70,212 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Comstock Resources by 235.7% during the 3rd quarter. Millennium Management LLC now owns 62,529 shares of the oil and gas producer’s stock valued at $487,000 after purchasing an additional 43,902 shares in 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Comstock Resources (NYSE:CRK)

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