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

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Comstock Resources (NYSE:CRK) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, ValuEngine reports.

A number of other analysts have also issued reports on CRK. Zacks Investment Research upgraded shares of Comstock Resources from a “hold” rating to a “buy” rating and set a $6.75 price target for the company in a research note on Thursday, January 31st. Capital One Financial lowered shares of Comstock Resources from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. Comstock Resources currently has a consensus rating of “Hold” and a consensus target price of $9.43.

Shares of NYSE:CRK opened at $6.09 on Wednesday. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.77 and a quick ratio of 0.77. Comstock Resources has a 12-month low of $4.21 and a 12-month high of $12.32.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Thursday, February 21st. The oil and gas producer reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The company had revenue of $153.50 million during the quarter, compared to the consensus estimate of $153.75 million. Comstock Resources had a positive return on equity of 30.47% and a negative net margin of 7.34%. On average, sell-side analysts predict that Comstock Resources will post 1.06 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. Quantamental Technologies LLC bought a new position in shares of Comstock Resources during the first quarter worth about $30,000. Citigroup Inc. bought a new position in shares of Comstock Resources during the fourth quarter worth about $61,000. Squarepoint Ops LLC bought a new position in shares of Comstock Resources during the fourth quarter worth about $62,000. Nisa Investment Advisors LLC bought a new position in shares of Comstock Resources during the first quarter worth about $69,000. Finally, Penn Capital Management Co. Inc. grew its position in shares of Comstock Resources by 49.8% during the fourth quarter. Penn Capital Management Co. Inc. now owns 22,807 shares of the oil and gas producer’s stock worth $103,000 after acquiring an additional 7,584 shares during the last quarter. Hedge funds and other institutional investors own 7.17% of the company’s stock.

About Comstock Resources

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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