Comstock Resources, Inc. (NYSE:CRK) Receives $13.36 Average Target Price from Brokerages

Comstock Resources, Inc. (NYSE:CRK) has been assigned a consensus rating of “Reduce” from the thirteen ratings firms that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $13.73.

A number of research analysts recently commented on CRK shares. Citigroup increased their target price on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research note on Friday, December 6th. Truist Financial increased their price objective on Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, January 13th. StockNews.com upgraded Comstock Resources to a “sell” rating in a research report on Thursday, March 20th. Piper Sandler upped their target price on Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 29th. Finally, Williams Trading set a $13.00 price target on shares of Comstock Resources in a research note on Wednesday, March 5th.

Institutional Investors Weigh In On Comstock Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRK. Sunbelt Securities Inc. increased its holdings in Comstock Resources by 140.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock valued at $27,000 after purchasing an additional 1,400 shares during the period. VSM Wealth Advisory LLC bought a new stake in shares of Comstock Resources in the 4th quarter worth approximately $27,000. Sterling Capital Management LLC increased its stake in shares of Comstock Resources by 804.6% during the fourth quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer’s stock valued at $54,000 after buying an additional 2,631 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Comstock Resources by 225.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock valued at $64,000 after acquiring an additional 2,326 shares in the last quarter. Finally, Quarry LP purchased a new stake in Comstock Resources in the fourth quarter worth $70,000. 36.13% of the stock is currently owned by institutional investors.

Comstock Resources Stock Up 0.2 %

Shares of NYSE CRK opened at $19.87 on Wednesday. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27. The business has a 50-day moving average of $19.01 and a 200-day moving average of $15.89. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of -26.14, a PEG ratio of 1.65 and a beta of 0.55. Comstock Resources has a 12 month low of $7.74 and a 12 month high of $22.06.

Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.14. The business had revenue of $366.51 million during the quarter, compared to analysts’ expectations of $370.62 million. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. Sell-side analysts expect that Comstock Resources will post 0.54 earnings per share for the current fiscal year.

About Comstock Resources

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.