Comstock Resources (NYSE:CRK) Earns Sector Weight Rating from Analysts at KeyCorp

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

A number of other research firms also recently issued reports on CRK. StockNews.com upgraded Comstock Resources to a sell rating in a research note on Monday, April 29th. Piper Sandler lowered their target price on shares of Comstock Resources from $9.00 to $8.00 and set an overweight rating on the stock in a research report on Thursday, March 7th. Stifel Nicolaus cut their target price 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 note on Wednesday, May 15th. Finally, The Goldman Sachs Group upped their target price on shares of Comstock Resources from $9.00 to $10.00 and gave the company a sell rating in a report on Tuesday, May 28th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Comstock Resources has an average rating of Hold and an average price target of $10.25.

Comstock Resources Stock Performance

NYSE CRK opened at $10.38 on Thursday. The company has a market cap of $3.03 billion, a P/E ratio of 47.18 and a beta of 0.60. Comstock Resources has a 1-year low of $7.07 and a 1-year high of $13.39. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a 50-day moving average of $10.84 and a two-hundred day moving average of $9.33.

Comstock Resources (NYSE:CRK) last issued its earnings results on Wednesday, May 1st. The oil and gas producer reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.05. Comstock Resources had a net margin of 4.27% and a return on equity of 1.25%. The firm had revenue of $335.77 million for the quarter, compared to analysts’ expectations of $343.97 million. During the same quarter last year, the company earned $0.33 earnings per share. The firm’s revenue was down 31.4% compared to the same quarter last year. As a group, analysts anticipate that Comstock Resources will post -0.09 EPS for the current year.

Institutional Investors Weigh In On Comstock Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in Comstock Resources by 428.9% during the first quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer’s stock valued at $44,000 after purchasing an additional 3,869 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in Comstock Resources by 2,161.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 4,929 shares of the oil and gas producer’s stock worth $46,000 after buying an additional 4,711 shares during the last quarter. Federated Hermes Inc. grew its stake in 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 worth $61,000 after buying an additional 2,445 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Comstock Resources by 144.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,645 shares of the oil and gas producer’s stock worth $73,000 after buying an additional 3,929 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new position in Comstock Resources during the 3rd quarter worth $80,000. 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.