Zacks Research lowered shares of Comstock Resources (NYSE:CRK – Free Report) from a hold rating to a strong sell rating in a research note issued to investors on Thursday morning,Zacks.com reports.
CRK has been the subject of several other reports. Morgan Stanley set a $16.00 target price on Comstock Resources and gave the company an “equal weight” rating in a report on Monday, June 29th. Wall Street Zen lowered Comstock Resources from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. Williams Trading set a $16.00 price target on shares of Comstock Resources in a research report on Thursday, May 14th. Roth Capital raised shares of Comstock Resources from a “sell” rating to a “neutral” rating and set a $13.00 price objective for the company in a report on Friday, July 10th. Finally, Mizuho cut their price objective on shares of Comstock Resources from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, May 27th. Six equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $16.11.
Check Out Our Latest Analysis on CRK
Comstock Resources Price Performance
Comstock Resources (NYSE:CRK – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $0.15 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.08). Comstock Resources had a net margin of 27.18% and a return on equity of 5.54%. The company had revenue of $587.35 million during the quarter, compared to analyst estimates of $554.01 million. During the same period in the prior year, the business posted $0.18 EPS. Comstock Resources’s revenue for the quarter was up 14.5% compared to the same quarter last year. Equities research analysts anticipate that Comstock Resources will post 0.51 earnings per share for the current fiscal year.
Institutional Trading of Comstock Resources
A number of hedge funds and other institutional investors have recently modified their holdings of CRK. AQR Capital Management LLC acquired a new position in Comstock Resources in the first quarter valued at about $627,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Comstock Resources by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,236 shares of the oil and gas producer’s stock valued at $1,124,000 after acquiring an additional 2,697 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Comstock Resources by 67.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,086,868 shares of the oil and gas producer’s stock valued at $22,107,000 after acquiring an additional 437,476 shares during the period. Intech Investment Management LLC raised its stake in shares of Comstock Resources by 26.0% in the 1st quarter. Intech Investment Management LLC now owns 65,289 shares of the oil and gas producer’s stock valued at $1,328,000 after acquiring an additional 13,485 shares during the period. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of Comstock Resources in the 2nd quarter worth approximately $93,000. 36.13% of the stock is owned by institutional investors and hedge funds.
Comstock Resources Company Profile
Comstock Resources, Inc is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties in the United States. The company focuses on generating long-term value through the efficient development of unconventional resource plays and conventional prospects. Its activities encompass drilling, completion and production operations, as well as the marketing of natural gas, natural gas liquids and crude oil.
Comstock holds a core position in the Haynesville Shale of Northwest Louisiana, one of the most active natural gas plays in North America, and has built a complementary portfolio in the Delaware Basin of West Texas.
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