Comstock Resources (NYSE:CRK) Now Covered by KeyCorp

KeyCorp began coverage on shares of Comstock Resources (NYSE:CRK) in a research report released on Thursday, Benzinga reports. The brokerage issued a sector weight rating on the oil and gas producer’s stock.

Several other brokerages also recently issued reports on CRK. Piper Sandler cut their price objective on Comstock Resources from $9.00 to $8.00 and set an overweight rating for the company in a research report on Thursday, March 7th. Stifel Nicolaus reduced their price objective on Comstock Resources from $14.00 to $13.50 and set a buy rating on the stock in a research report on Tuesday, April 23rd. Capital One Financial cut Comstock Resources from an overweight rating to an equal weight rating in a research report on Wednesday, May 15th. StockNews.com upgraded shares of Comstock Resources to a sell rating in a report on Monday, April 29th. Finally, The Goldman Sachs Group lifted their price target on shares of Comstock Resources from $9.00 to $10.00 and gave the stock a sell rating in a report on Tuesday, May 28th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Comstock Resources currently has a consensus rating of Hold and an average target price of $10.25.

Comstock Resources Stock Down 1.7 %

Comstock Resources stock opened at $10.38 on Thursday. Comstock Resources has a fifty-two week low of $7.07 and a fifty-two week high of $13.39. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 47.18 and a beta of 0.60. The stock’s fifty day moving average is $10.84 and its two-hundred day moving average is $9.34. 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 (NYSE:CRK) last released its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.05. The business had revenue of $335.77 million for the quarter, compared to analyst estimates of $343.97 million. Comstock Resources had a net margin of 4.27% and a return on equity of 1.25%. The business’s revenue for the quarter was down 31.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.33 EPS. Analysts predict that Comstock Resources will post -0.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Comstock Resources

A number of large investors have recently bought and sold shares of CRK. ProShare Advisors LLC grew its holdings in shares of 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 worth $172,000 after purchasing an additional 1,276 shares during the period. Outfitter Financial LLC grew its stake in 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 buying an additional 1,630 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Comstock Resources by 5.9% in the fourth 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 in the last quarter. SG Americas Securities LLC raised its stake in shares of Comstock Resources by 4.6% in the 4th quarter. SG Americas Securities LLC now owns 53,942 shares of the oil and gas producer’s stock valued at $477,000 after acquiring an additional 2,389 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in shares of Comstock Resources by 80.0% during the 3rd quarter. Federated Hermes Inc. now owns 5,500 shares of the oil and gas producer’s stock valued at $61,000 after acquiring an additional 2,445 shares in the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.

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.