Comstock Resources (NYSE:CRK) Downgraded by StockNews.com
several other research reports Comstock Resources (NYSE:CRK) was downgraded by investment analysts at StockNews.com from a 'hold' rating to a 'sell' rating in a research note issued on Friday.
In a Friday research note, the rating was changed from a "hold" to a "sell".
CRK was the subject of other reports. Mizuho reduced their price target on Comstock Resources shares from $18.00 down to $17.00 on Friday, 19th May. Truist Financial reduced their price target on Comstock Resources shares from $12.00 down to $9.00 in a report published on Tuesday, April 11, and gave the stock a "hold" rating. Citigroup upgraded shares of Comstock Resources to a "neutral" rating from a "sell" rating in a report published on Wednesday, April 19. They also raised their price target for the company to $12.00 from $10.00. Credit Suisse Group raised their price target for shares of Comstock Resources to $12.00 in a report published on Thursday, 16th February. The stock was also given a "hold" rating. Stifel Nicolaus reduced their price target for shares of Comstock Resources in a report published on May 22nd from $15.00 down to $14.00. Two analysts have assigned the stock a sell recommendation, while nine others have given it a hold rating. Trading on Friday saw a decline of $0.22, bringing the price to $10.46. The company's shares were traded at a volume of 12,417.175 compared to the average of 4,579.924. The company has a $2.90 billion market capitalization, a PE of 2.09, and a beta value of 1.15. The company's 50-day moving average is $10.29, and its 200 day moving average is $11.84. Comstock Resources' 12-month low is $9.07, and its 12-month high is $21.85. The debt-to equity ratio for the company is 0.91. Its current ratio is 0.67, and its quick ratio 0.67.
The last time ) released its quarterly earnings was on May 2nd. The oil and natural gas producer met the consensus estimate for $0.33 in earnings per share. Revenue for the quarter was $489.58 millions, which is higher than analyst expectations of $433.84. Comstock Resources' net margin was 39.08%, and its return on equity was 52.26%. Comstock Resources revenue fell 6.7% from the same quarter of last year. In the same quarter last year, Comstock Resources posted $0.51 in earnings per share. Comstock Resources is expected to post an average of 0.98 EPS this year, according to research analysts.
Insider Activities
In related news CFO Roland O. Burns purchased 10,000 shares of company stock in a deal dated March 23rd. The shares were bought at a cost of $10 per share with a value of $100.00. After the acquisition was completed, the chief executive officer owns directly 950,430 of the company's shares, worth $9,504,300. Insiders of companies own 1,50% of their stock.
Comstock Resources: Institutional Investors weigh in
Recent changes in stock positions by large investors. ProShare Advisors LLC increased its holdings of Comstock Resources in the first three months by 12.6%. ProShare Advisors LLC owns now 13,289 shares worth $143,000 of the oil producer's stock after buying 1,491 additional shares in the last quarter. Toroso Investments LLC acquired a new Comstock Resources stake valued at $1.722,000 in the first quarter. Putnam Investments LLC increased its Comstock Resources holdings by 52.4% during the first quarter. Putnam Investments LLC owns 32 514 shares worth $351,000 of the oil and natural gas producer after buying an additional 11,177 during the last quarter. Ameriprise Financial Inc. increased its holdings of Comstock Resources in the first quarter by 94.8%. Ameriprise Financial Inc. owns 407,445 shares in the oil and natural gas producer, valued at $4.396,000, after buying an additional 198.239 shares over the past quarter. JPMorgan Chase & Co. increased its holdings of Comstock Resources in the first quarter by 126.8%. JPMorgan Chase & Co. owns 392,481 of the oil and natural gas producer's shares valued at $4.235,000, after buying an additional 219 449 shares in the last quarter. Hedge funds and institutional investors own 35.22 % of the company's stock.
Comstock Resources Company profile
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Comstock Resources, Inc is engaged in the exploration, acquisition, and development of oil and gas. The company's operations are concentrated in East Texas, in the Haynesville Shale. This is a premier natural-gas basin. The company was founded by Frisco, TX in 1919.
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