Brokerages Set Comstock Resources, Inc. (NYSE:CRK) PT at $20.11

Shares of Comstock Resources, Inc. (NYSE:CRK) have been given a consensus recommendation of “Reduce” by the ten research firms that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $20.1111.

CRK has been the topic of several recent research reports. UBS Group set a $17.00 target price on shares of Comstock Resources in a research note on Friday. Bank of America lowered shares of Comstock Resources from a “buy” rating to a “neutral” rating and cut their price objective for the company from $27.00 to $24.00 in a report on Friday, January 16th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comstock Resources in a report on Monday, December 29th. Morgan Stanley set a $19.00 target price on shares of Comstock Resources in a research report on Friday. Finally, Mizuho raised their price target on Comstock Resources from $21.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th.

Hedge Funds Weigh In On Comstock Resources

Several institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its position in shares of Comstock Resources by 344.5% in the 2nd quarter. Bank of America Corp DE now owns 1,853,846 shares of the oil and gas producer’s stock valued at $51,296,000 after acquiring an additional 1,436,746 shares during the period. Gemsstock Ltd. bought a new stake in Comstock Resources in the fourth quarter valued at approximately $19,186,000. Aventail Capital Group LP raised its holdings in Comstock Resources by 149.9% in the third quarter. Aventail Capital Group LP now owns 1,143,721 shares of the oil and gas producer’s stock worth $22,680,000 after purchasing an additional 686,002 shares during the period. Man Group plc boosted its position in shares of Comstock Resources by 1,752.8% during the third quarter. Man Group plc now owns 600,205 shares of the oil and gas producer’s stock worth $11,902,000 after purchasing an additional 567,810 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Comstock Resources during the third quarter worth $8,961,000. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Comstock Resources Stock Down 0.7%

NYSE CRK opened at $19.04 on Friday. The stock has a fifty day moving average of $22.24 and a 200-day moving average of $20.40. The stock has a market capitalization of $5.58 billion, a P/E ratio of 13.51 and a beta of 0.39. Comstock Resources has a 52 week low of $14.65 and a 52 week high of $31.17. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.41 and a current ratio of 0.49.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Wednesday, February 11th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.05. The business had revenue of $789.81 million for the quarter, compared to analyst estimates of $504.66 million. Comstock Resources had a return on equity of 6.30% and a net margin of 17.80%.The firm’s revenue for the quarter was up 115.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 earnings per share. On average, equities research analysts forecast that Comstock Resources will post 0.54 EPS for the current year.

Comstock Resources Company Profile

Comstock Resources, Inc is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties in the United States. The company focuses on generating long-term value through the efficient development of unconventional resource plays and conventional prospects. Its activities encompass drilling, completion and production operations, as well as the marketing of natural gas, natural gas liquids and crude oil.

Comstock holds a core position in the Haynesville Shale of Northwest Louisiana, one of the most active natural gas plays in North America, and has built a complementary portfolio in the Delaware Basin of West Texas.