Comstock Resources, Inc. (NYSE:CRK) Receives $10.89 Average Price Target from Brokerages

Shares of Comstock Resources, Inc. (NYSE:CRK) have been given an average rating of “Reduce” by the thirteen ratings firms that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $11.78.

A number of research firms have recently weighed in on CRK. Mizuho upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating and raised their price target for the company from $10.00 to $18.00 in a report on Monday. Truist Financial raised their target price on shares of Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Citigroup lifted their price target on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a report on Friday, December 6th. Siebert Williams Shank lowered Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective for the company. in a report on Tuesday, October 15th. Finally, Bank of America initiated coverage on Comstock Resources in a research note on Monday, October 28th. They set a “buy” rating and a $14.00 target price on the stock.

Comstock Resources Stock Down 4.5 %

Comstock Resources stock opened at $15.36 on Monday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.25. The firm has a market cap of $4.49 billion, a P/E ratio of -85.33 and a beta of 0.57. The business has a fifty day moving average of $13.62 and a two-hundred day moving average of $11.65. Comstock Resources has a twelve month low of $7.07 and a twelve month high of $17.79.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The company had revenue of $304.50 million for the quarter, compared to analysts’ expectations of $308.75 million. During the same quarter last year, the company earned $0.04 earnings per share. The company’s revenue for the quarter was down 19.2% compared to the same quarter last year. On average, analysts forecast that Comstock Resources will post -0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Blue Trust Inc. acquired a new stake in Comstock Resources during the 2nd quarter valued at approximately $32,000. Louisiana State Employees Retirement System boosted its holdings in Comstock Resources by 6.6% in the second quarter. Louisiana State Employees Retirement System now owns 48,500 shares of the oil and gas producer’s stock valued at $503,000 after purchasing an additional 3,000 shares during the last quarter. Keynote Financial Services LLC grew its position in Comstock Resources by 2.0% during the 2nd quarter. Keynote Financial Services LLC now owns 102,193 shares of the oil and gas producer’s stock worth $1,061,000 after purchasing an additional 1,975 shares during the period. Pullen Investment Management LLC raised its stake in shares of Comstock Resources by 3.9% during the 2nd quarter. Pullen Investment Management LLC now owns 51,733 shares of the oil and gas producer’s stock valued at $537,000 after buying an additional 1,942 shares during the last quarter. Finally, Natixis Advisors LLC lifted its holdings in shares of Comstock Resources by 37.2% in the 2nd quarter. Natixis Advisors LLC now owns 35,106 shares of the oil and gas producer’s stock valued at $364,000 after buying an additional 9,520 shares during the period. 36.13% of the stock is owned by institutional investors and hedge funds.

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.