Brokerages Set Comstock Resources, Inc. (NYSE:CRK) Target Price at $21.00

Shares of Comstock Resources, Inc. (NYSE:CRK) have been assigned a consensus recommendation of “Reduce” from the ten analysts that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $21.00.

CRK has been the topic of a number of analyst reports. Morgan Stanley set a $19.00 price target on Comstock Resources in a research note on Friday, February 13th. Mizuho upped their price objective on Comstock Resources from $21.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Citigroup reiterated a “neutral” rating and issued a $25.00 price objective (up from $24.00) on shares of Comstock Resources in a report on Wednesday, January 14th. Piper Sandler cut their target price on Comstock Resources from $9.00 to $8.00 and set an “underweight” rating on the stock in a research report on Tuesday, November 18th. Finally, UBS Group set a $17.00 target price on Comstock Resources in a research note on Friday, February 13th.

Comstock Resources Trading Up 0.2%

Shares of NYSE:CRK opened at $20.82 on Wednesday. Comstock Resources has a 52 week low of $14.65 and a 52 week high of $31.17. The company’s 50 day moving average is $21.13 and its two-hundred day moving average is $20.95. The company has a market cap of $6.12 billion, a PE ratio of 14.76 and a beta of 0.40. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.95.

Comstock Resources (NYSE:CRK) last released its quarterly earnings data on Wednesday, February 11th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.05. The business had revenue of $787.32 million during the quarter, compared to analysts’ expectations of $504.66 million. Comstock Resources had a net margin of 17.80% and a return on equity of 6.30%. The company’s revenue for the quarter was up 115.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.16 EPS. Equities analysts predict that Comstock Resources will post 0.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Patrick Mcgough sold 48,915 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $21.20, for a total transaction of $1,036,998.00. Following the completion of the sale, the vice president owned 187,516 shares in the company, valued at approximately $3,975,339.20. The trade was a 20.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Great Hill Capital LLC acquired a new position in Comstock Resources in the third quarter valued at $4,075,000. Federated Hermes Inc. grew its holdings in shares of Comstock Resources by 10,032.7% during the third quarter. Federated Hermes Inc. now owns 359,307 shares of the oil and gas producer’s stock worth $7,125,000 after purchasing an additional 355,761 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Comstock Resources during the third quarter worth about $2,395,000. SG Americas Securities LLC increased its position in shares of Comstock Resources by 249.3% during the second quarter. SG Americas Securities LLC now owns 118,391 shares of the oil and gas producer’s stock worth $3,276,000 after purchasing an additional 84,500 shares in the last quarter. Finally, BW Gestao de Investimentos Ltda. purchased a new stake in shares of Comstock Resources in the 3rd quarter valued at about $1,144,000. 36.13% of the stock is owned by hedge funds and other institutional investors.

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.