Comstock Resources, Inc. (NYSE:CRK) Receives $10.25 Average PT from Analysts

Comstock Resources, Inc. (NYSE:CRK) has received a consensus rating of “Hold” from the ten analysts that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $10.25.

Several equities analysts recently issued reports on the company. The Goldman Sachs Group increased their target price on Comstock Resources from $9.00 to $10.00 and gave the stock a “sell” rating in a research note on Tuesday, May 28th. Capital One Financial lowered Comstock Resources from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, May 15th. StockNews.com raised Comstock Resources to a “sell” rating in a research report on Monday, April 29th. KeyCorp initiated coverage on Comstock Resources in a research report on Thursday. They issued a “sector weight” rating on the stock. Finally, Piper Sandler reduced their price target on Comstock Resources from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Thursday, March 7th.

Comstock Resources Price Performance

CRK opened at $10.37 on Monday. The stock’s 50-day moving average price is $10.84 and its 200 day moving average price is $9.33. Comstock Resources has a 12-month low of $7.07 and a 12-month high of $13.39. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.09. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 47.14 and a beta of 0.60.

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

Institutional Investors Weigh In On Comstock Resources

Several hedge funds and other institutional investors have recently made changes to their positions in CRK. KGH Ltd raised its position in shares of Comstock Resources by 119.3% during the 3rd quarter. KGH Ltd now owns 8,586,000 shares of the oil and gas producer’s stock worth $94,704,000 after acquiring an additional 4,670,959 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Comstock Resources by 29.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,139,351 shares of the oil and gas producer’s stock worth $72,035,000 after buying an additional 1,833,302 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in Comstock Resources during the 1st quarter worth approximately $5,643,000. Readystate Asset Management LP grew its stake in Comstock Resources by 718.7% during the 4th quarter. Readystate Asset Management LP now owns 603,846 shares of the oil and gas producer’s stock worth $5,344,000 after buying an additional 530,090 shares during the last quarter. Finally, CastleKnight Management LP purchased a new position in Comstock Resources during the 4th quarter worth approximately $3,167,000. Institutional investors and hedge funds 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.