Comstock Resources (NYSE:CRK) Rating Increased to Sell at ValuEngine

ValuEngine upgraded shares of Comstock Resources (NYSE:CRK) from a strong sell rating to a sell rating in a research note issued to investors on Tuesday, ValuEngine reports.

Separately, Seaport Global Securities downgraded shares of Comstock Resources from a buy rating to a neutral rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $8.33.

Shares of Comstock Resources stock traded up $0.08 during trading hours on Tuesday, reaching $6.43. 220,435 shares of the company’s stock were exchanged, compared to its average volume of 463,501. The business has a fifty day moving average of $6.85 and a two-hundred day moving average of $6.36. The company has a market capitalization of $1.21 billion, a P/E ratio of 7.38 and a beta of 1.40. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 2.35. Comstock Resources has a 1 year low of $4.17 and a 1 year high of $10.70.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Thursday, November 7th. The oil and gas producer reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.03. The firm had revenue of $224.44 million for 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%. As a group, research analysts predict that Comstock Resources will post 0.72 EPS for the current year.

In other news, VP Russell W. Romoser sold 6,319 shares of Comstock Resources stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $9.36, for a total transaction of $59,145.84. Following the sale, the vice president now owns 58,489 shares of the company’s stock, valued at approximately $547,457.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.20% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN increased its stake in Comstock Resources by 233.9% during the second quarter. Wells Fargo & Company MN now owns 6,781 shares of the oil and gas producer’s stock worth $38,000 after acquiring an additional 4,750 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Comstock Resources during the 2nd quarter worth about $71,000. Hilltop Holdings Inc. raised its holdings in Comstock Resources by 30.0% in the 2nd quarter. Hilltop Holdings Inc. now owns 13,000 shares of the oil and gas producer’s stock valued at $73,000 after buying an additional 3,000 shares during the period. Pensionmark Financial Group LLC acquired a new position in Comstock Resources in the second quarter valued at about $112,000. Finally, Virtu Financial LLC purchased a new position in Comstock Resources during the third quarter worth about $149,000. Institutional investors own 3.24% of the company’s stock.

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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