Comstock Resources, Inc. (NYSE:CRK) Receives Average Recommendation of “Reduce” from Brokerages

Core Viewpoint - Comstock Resources, Inc. has received a consensus recommendation of "Reduce" from analysts, indicating a cautious outlook on the stock's performance [2]. Analyst Recommendations - Eleven analysts cover Comstock Resources, with three recommending a sell, six a hold, and two a buy [2]. - Piper Sandler lowered its price target from $9.00 to $8.00 with an "underweight" rating [3]. - Mizuho increased its price target from $21.00 to $29.00, maintaining a "neutral" rating [3]. - UBS Group reaffirmed a "sell" rating with a price objective raised from $16.00 to $18.00 [3]. - Weiss Ratings issued a "hold (c-)" rating [3]. - Zacks Research upgraded the stock from a "strong sell" to a "hold" rating [3]. Stock Performance - Comstock Resources shares opened at $23.37, with a market capitalization of $6.85 billion [4]. - The company has a quick ratio and current ratio of 0.41, and a debt-to-equity ratio of 1.19 [4]. - The stock has a 52-week low of $14.65 and a high of $31.17, with a 50-day simple moving average of $22.47 and a 200-day average of $21.06 [4]. Earnings Results - For the quarter ending November 3rd, Comstock reported earnings per share (EPS) of $0.09, exceeding estimates of $0.04 by $0.05 [5]. - The company generated revenue of $449.85 million, surpassing analyst expectations of $433.54 million [5]. - Year-over-year revenue growth was 47.8%, with a net margin of 3.14% and a return on equity of 6.71% [5]. - Analysts forecast an EPS of 0.54 for the current fiscal year [5]. Institutional Trading - Recent institutional investments include Advisory Services Network LLC acquiring a stake valued at $27,000 [6]. - Jones Financial Companies Lllp increased its position by 671.2%, now owning 1,581 shares worth $31,000 [6]. - 36.13% of Comstock's stock is owned by institutional investors and hedge funds [6]. Company Profile - Comstock Resources is an independent energy company focused on the acquisition, exploration, development, and production of oil and natural gas in the U.S. [7]. - The company aims to create long-term value through efficient development of unconventional and conventional resource plays [7]. - Comstock holds a significant position in the Haynesville Shale and has a complementary portfolio in the Delaware Basin [8].