Comstock Resources (NYSE:CRK) Price Target Raised to $29.00

Comstock Resources (NYSE:CRK) had its price target lifted by investment analysts at Mizuho from $21.00 to $29.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas producer’s stock. Mizuho’s price objective would indicate a potential upside of 34.95% from the stock’s current price.

Several other brokerages have also recently issued reports on CRK. Roth Capital cut shares of Comstock Resources from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $18.00 to $12.00 in a research note on Monday, August 18th. Zacks Research raised Comstock Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Comstock Resources in a research note on Monday. Piper Sandler reduced their price objective on Comstock Resources from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 18th. Finally, UBS Group boosted their target price on Comstock Resources from $14.00 to $16.00 and gave the stock a “sell” rating in a report on Thursday, November 6th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $20.40.

Comstock Resources Stock Down 7.0%

Shares of NYSE:CRK opened at $21.49 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.19. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 85.96 and a beta of 0.33. The stock’s 50-day moving average price is $22.03 and its two-hundred day moving average price is $21.18. Comstock Resources has a 12-month low of $14.65 and a 12-month high of $31.17.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Monday, November 3rd. The oil and gas producer reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. Comstock Resources had a net margin of 3.14% and a return on equity of 6.71%. The business had revenue of $449.85 million for the quarter, compared to analyst estimates of $433.54 million. During the same period in the prior year, the firm posted ($0.17) EPS. The company’s revenue was up 47.8% on a year-over-year basis. On average, research analysts forecast that Comstock Resources will post 0.54 EPS for the current year.

Hedge Funds Weigh In On Comstock Resources

Institutional investors have recently made changes to their positions in the business. Legacy Investment Solutions LLC purchased a new position in shares of Comstock Resources during the 2nd quarter valued at approximately $29,000. Atlantic Union Bankshares Corp acquired a new stake in Comstock Resources in the second quarter valued at $34,000. Advisory Services Network LLC bought a new position in Comstock Resources during the 3rd quarter valued at $27,000. Jones Financial Companies Lllp grew its holdings in Comstock Resources by 671.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,581 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 1,376 shares in the last quarter. Finally, iSAM Funds UK Ltd acquired a new position in Comstock Resources during the 3rd quarter worth $38,000. 36.13% of the stock is owned by institutional investors and hedge funds.

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.