Comstock Resources (NYSE:CRK) Now Covered by Analysts at Wolfe Research

Wolfe Research initiated coverage on shares of Comstock Resources (NYSE:CRK) in a report released on Thursday, Marketbeat reports. The brokerage issued a peer perform rating on the oil and gas producer’s stock.

CRK has been the topic of several other reports. Stifel Nicolaus cut their price target on shares of Comstock Resources from $14.00 to $13.50 and set a buy rating on the stock in a report on Tuesday, April 23rd. Capital One Financial cut shares of Comstock Resources from an overweight rating to an equal weight rating in a research report on Wednesday, May 15th. StockNews.com raised Comstock Resources to a sell rating in a report on Monday, April 29th. Mizuho upped their price objective on Comstock Resources from $10.00 to $11.00 and gave the company an underperform rating in a research note on Monday, May 13th. Finally, The Goldman Sachs Group lifted their target price on Comstock Resources from $9.00 to $10.00 and gave the stock a sell rating in a research report on Tuesday, May 28th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $10.25.

Comstock Resources Stock Up 0.2 %

Shares of NYSE CRK opened at $10.23 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.64 and a current ratio of 0.64. Comstock Resources has a 1 year low of $7.07 and a 1 year high of $13.39. The stock’s 50-day simple moving average is $10.95 and its 200-day simple moving average is $9.50. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 46.50 and a beta of 0.51.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.05. Comstock Resources had a return on equity of 1.25% and a net margin of 4.27%. The company had revenue of $335.77 million for the quarter, compared to the consensus estimate of $343.97 million. During the same period in the previous year, the business earned $0.33 EPS. Comstock Resources’s revenue for the quarter was down 31.4% compared to the same quarter last year. As a group, equities analysts anticipate that Comstock Resources will post -0.13 earnings per share for the current fiscal year.

Institutional Trading of Comstock Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC boosted its position in Comstock Resources by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 18,536 shares of the oil and gas producer’s stock valued at $172,000 after purchasing an additional 1,276 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Comstock Resources by 27.5% during the second quarter. GAMMA Investing LLC now owns 6,083 shares of the oil and gas producer’s stock valued at $63,000 after acquiring an additional 1,312 shares during the period. Simplicity Wealth LLC boosted its holdings in shares of Comstock Resources by 5.7% during the second quarter. Simplicity Wealth LLC now owns 28,544 shares of the oil and gas producer’s stock valued at $296,000 after acquiring an additional 1,552 shares during the period. Outfitter Financial LLC grew its position in shares of Comstock Resources by 5.0% during the fourth quarter. Outfitter Financial LLC now owns 34,300 shares of the oil and gas producer’s stock worth $304,000 after acquiring an additional 1,630 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Comstock Resources by 5.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,381 shares of the oil and gas producer’s stock worth $366,000 after acquiring an additional 2,310 shares during the period. 36.13% of the stock is currently owned by institutional investors and hedge funds.

About Comstock Resources

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.