Comstock Resources, Inc. (NYSE:CRK) Receives $20.22 Consensus Target Price from Analysts

Comstock Resources, Inc. (NYSE:CRK) has been assigned an average rating of “Reduce” from the ten analysts that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $20.3333.

Several research firms have issued reports on CRK. Mizuho boosted their price objective on shares of Comstock Resources from $21.00 to $29.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Morgan Stanley set a $20.00 price target on Comstock Resources and gave the company an “equal weight” rating in a report on Friday. 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 report on Tuesday, November 18th. Zacks Research upgraded Comstock Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Comstock Resources in a research report on Monday, December 29th.

Comstock Resources Price Performance

Comstock Resources stock opened at $24.66 on Tuesday. Comstock Resources has a 12-month low of $14.65 and a 12-month high of $31.17. 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 50-day moving average price of $23.50 and a 200-day moving average price of $20.43. The firm has a market capitalization of $7.23 billion, a PE ratio of 98.64 and a beta of 0.39.

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

Institutional Investors Weigh In On Comstock Resources

Large investors have recently modified their holdings of the business. Bank of America Corp DE lifted its holdings in Comstock Resources by 344.5% during the second quarter. Bank of America Corp DE now owns 1,853,846 shares of the oil and gas producer’s stock worth $51,296,000 after buying an additional 1,436,746 shares during the period. Aventail Capital Group LP raised its position in shares of Comstock Resources by 149.9% in the 3rd quarter. Aventail Capital Group LP now owns 1,143,721 shares of the oil and gas producer’s stock worth $22,680,000 after acquiring an additional 686,002 shares in the last quarter. Man Group plc lifted its stake in shares of Comstock Resources by 1,752.8% during the 3rd 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 during the last quarter. Marshall Wace LLP bought a new stake in Comstock Resources during the third quarter valued at about $8,961,000. Finally, Goldman Sachs Group Inc. grew its stake in Comstock Resources by 67.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,086,868 shares of the oil and gas producer’s stock valued at $22,107,000 after purchasing an additional 437,476 shares during the last quarter. Institutional investors own 36.13% of the company’s stock.

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.