Comstock Resources (NYSE:CRK) Price Target Raised to $6.00 at Piper Sandler

Comstock Resources (NYSE:CRK) had its target price lifted by Piper Sandler from $5.00 to $6.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has an underweight rating on the oil and gas producer’s stock.

A number of other research firms have also issued reports on CRK. Citigroup lifted their target price on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a report on Friday, December 6th. Mizuho upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $10.00 to $18.00 in a report on Monday, December 16th. Truist Financial raised their target price on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Bank of America assumed coverage on Comstock Resources in a report on Monday, October 28th. They issued a “buy” rating and a $14.00 price target on the stock. Finally, BMO Capital Markets raised their price objective on Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $13.40.

Comstock Resources Trading Up 0.2 %

Shares of NYSE:CRK opened at $19.08 on Wednesday. The company has a 50 day moving average of $17.63 and a 200-day moving average of $13.35. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25. The firm has a market cap of $5.57 billion, a P/E ratio of -105.97, a P/E/G ratio of 2.53 and a beta of 0.51. Comstock Resources has a twelve month low of $7.07 and a twelve month high of $22.06.

Comstock Resources (NYSE:CRK) last released its earnings results 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 firm had revenue of $304.50 million during the quarter, compared to analyst estimates of $308.75 million. During the same quarter last year, the company earned $0.04 earnings per share. The business’s revenue for the quarter was down 19.2% on a year-over-year basis. As a group, analysts anticipate that Comstock Resources will post -0.39 earnings per share for the current fiscal year.

Insider Activity

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.62, for a total value of $156,200.00. Following the transaction, the director now owns 143,781 shares in the company, valued at $2,245,859.22. The trade was a 6.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 38,000 shares of company stock worth $634,660 in the last 90 days. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Comstock Resources

Several institutional investors have recently made changes to their positions in the company. Millennium Management LLC grew its position in Comstock Resources by 775.4% in the second quarter. Millennium Management LLC now owns 875,371 shares of the oil and gas producer’s stock worth $9,086,000 after acquiring an additional 775,371 shares in the last quarter. Royce & Associates LP boosted its holdings in Comstock Resources by 79.2% in the third quarter. Royce & Associates LP now owns 689,780 shares of the oil and gas producer’s stock worth $7,677,000 after purchasing an additional 304,780 shares in the last quarter. Squarepoint Ops LLC increased its position in Comstock Resources by 285.9% during the second quarter. Squarepoint Ops LLC now owns 216,806 shares of the oil and gas producer’s stock worth $2,250,000 after buying an additional 160,619 shares during the last quarter. Weiss Asset Management LP bought a new position in Comstock Resources during the third quarter valued at about $1,263,000. Finally, Barclays PLC lifted its position in shares of Comstock Resources by 256.3% in the third quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer’s stock worth $1,731,000 after buying an additional 111,934 shares during the last quarter. 36.13% of the stock is currently 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.