Brokerages Set Comstock Resources, Inc. (NYSE:CRK) Target Price at $10.25

Comstock Resources, Inc. (NYSE:CRK) has received a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $10.25.

CRK has been the subject of a number of analyst reports. KeyCorp initiated coverage on shares of Comstock Resources in a report on Thursday, June 27th. They set a “sector weight” rating for the company. Capital One Financial lowered shares of Comstock Resources from an “overweight” rating to an “equal weight” rating in a report on Wednesday, May 15th. Mizuho lifted their target price on shares of Comstock Resources from $10.00 to $11.00 and gave the stock an “underperform” rating in a report on Monday, May 13th. Wolfe Research initiated coverage on shares of Comstock Resources in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Truist Financial lifted their target price on shares of Comstock Resources from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Monday.

Comstock Resources Stock Performance

Shares of Comstock Resources stock opened at $10.05 on Friday. 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 firm has a market cap of $2.94 billion, a P/E ratio of 45.59 and a beta of 0.51. The firm has a 50 day simple moving average of $10.94 and a 200 day simple moving average of $9.53. Comstock Resources has a fifty-two week low of $7.07 and a fifty-two week high of $13.39.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. The business had revenue of $335.77 million during the quarter, compared to analyst estimates of $343.97 million. Comstock Resources had a net margin of 4.27% and a return on equity of 1.25%. Comstock Resources’s revenue for the quarter was down 31.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 earnings per share. Sell-side analysts predict that Comstock Resources will post -0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Comstock Resources

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. bought a new stake in Comstock Resources in the 2nd quarter valued at $32,000. GAMMA Investing LLC lifted its position in Comstock Resources by 428.9% in the 1st quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer’s stock valued at $44,000 after acquiring an additional 3,869 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in Comstock Resources by 2,161.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 4,929 shares of the oil and gas producer’s stock valued at $46,000 after acquiring an additional 4,711 shares in the last quarter. Headlands Technologies LLC bought a new stake in Comstock Resources in the 1st quarter valued at $91,000. Finally, Forum Financial Management LP bought a new stake in Comstock Resources in the 4th quarter valued at $90,000. 36.13% of the stock is owned by institutional investors.

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.