Comstock Resources, Inc. (NYSE:CRK) Receives $10.31 Average PT from Brokerages

Shares of Comstock Resources, Inc. (NYSE:CRK) have been given a consensus recommendation of “Reduce” by the thirteen research firms that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $10.31.

Several equities research analysts have recently commented on CRK shares. Siebert Williams Shank downgraded shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective for the company. in a research note on Tuesday, October 15th. Piper Sandler lowered Comstock Resources from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $8.00 to $5.00 in a report on Thursday, August 15th. Bank of America started coverage on Comstock Resources in a report on Monday, October 28th. They set a “buy” rating and a $14.00 target price for the company. Truist Financial increased their price target on shares of Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Finally, BMO Capital Markets lifted their price objective on shares of Comstock Resources from $10.00 to $11.00 and gave the company a “market perform” rating in a research note on Friday, October 4th.

Institutional Investors Weigh In On Comstock Resources

A number of institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC purchased a new stake in Comstock Resources in the 3rd quarter worth $169,000. Barclays PLC increased its stake in shares of Comstock Resources by 256.3% during the third quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer’s stock worth $1,731,000 after purchasing an additional 111,934 shares in the last quarter. Sunbelt Securities Inc. raised its position in shares of 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 worth $27,000 after purchasing an additional 1,400 shares during the last quarter. XTX Topco Ltd raised its position in shares of Comstock Resources by 74.1% during the 3rd quarter. XTX Topco Ltd now owns 50,127 shares of the oil and gas producer’s stock worth $558,000 after purchasing an additional 21,336 shares during the last quarter. Finally, Weiss Asset Management LP purchased a new position in Comstock Resources in the 3rd quarter valued at about $1,263,000. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Comstock Resources Trading Up 2.2 %

NYSE CRK opened at $15.50 on Thursday. The firm has a market cap of $4.53 billion, a PE ratio of -86.67 and a beta of 0.47. Comstock Resources has a 52 week low of $7.07 and a 52 week high of $15.84. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.25. The company has a 50 day moving average price of $12.07 and a 200 day moving average price of $11.09.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The company had revenue of $304.50 million during the quarter, compared to analysts’ expectations of $308.75 million. Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. The business’s revenue for the quarter was down 19.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.04 earnings per share. As a group, sell-side analysts forecast that Comstock Resources will post -0.44 EPS for the current fiscal year.

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.