Comstock Resources, Inc. (NYSE:CRK) Stock Has Consensus Target Price of $15.00

Shares of Comstock Resources, Inc. (NYSE:CRK) have earned an average rating of “Reduce” from the fifteen analysts that are presently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a sell rating and ten have given a hold rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $15.00.

CRK has been the topic of several research analyst reports. BMO Capital Markets reaffirmed a “market perform” rating and issued a $17.00 price objective (up from $13.00) on shares of Comstock Resources in a research note on Wednesday, September 2nd. Morgan Stanley set a $13.00 target price on Comstock Resources and gave the stock an “equal weight” rating in a research note on Thursday, October 15th. Scotiabank began coverage on shares of Comstock Resources in a report on Wednesday, October 14th. They issued an “underperform” rating and a $11.00 target price for the company. UBS Group set a $14.00 target price on shares of Comstock Resources and gave the stock a “sell” rating in a report on Wednesday, September 9th. Finally, Mizuho reduced their price target on shares of Comstock Resources from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, October 16th.

Hedge Funds Weigh In On Comstock Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Madrona Financial Services LLC acquired a new stake in Comstock Resources in the third quarter valued at approximately $267,000. Rahlfs Capital LLC increased its holdings in shares of Comstock Resources by 5.1% during the third quarter. Rahlfs Capital LLC now owns 51,350 shares of the oil and gas producer’s stock worth $633,000 after buying an additional 2,500 shares in the last quarter. Isthmus Partners LLC increased its holdings in shares of Comstock Resources by 0.6% during the third quarter. Isthmus Partners LLC now owns 194,679 shares of the oil and gas producer’s stock worth $2,398,000 after buying an additional 1,201 shares in the last quarter. Great Hill Capital LLC lifted its stake in shares of Comstock Resources by 26.2% in the 3rd quarter. Great Hill Capital LLC now owns 572,965 shares of the oil and gas producer’s stock valued at $7,059,000 after acquiring an additional 119,036 shares during the last quarter. Finally, Wedmont Private Capital lifted its stake in shares of Comstock Resources by 13.8% in the 3rd quarter. Wedmont Private Capital now owns 20,123 shares of the oil and gas producer’s stock valued at $248,000 after acquiring an additional 2,444 shares during the last quarter. Institutional investors own 36.13% of the company’s stock.

Comstock Resources Stock Up 1.0%

NYSE CRK opened at $14.11 on Thursday. The business has a fifty day moving average price of $13.94 and a two-hundred day moving average price of $14.30. The stock has a market capitalization of $4.14 billion, a PE ratio of 7.93 and a beta of 0.52. Comstock Resources has a fifty-two week low of $12.12 and a fifty-two week high of $28.10. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.48 and a quick ratio of 0.48.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. Comstock Resources had a return on equity of 4.12% and a net margin of 23.31%. The company had revenue of $353.28 million for the quarter, compared to analyst estimates of $419.22 million. During the same quarter last year, the company posted $0.13 EPS. The company’s revenue for the quarter was down 24.9% compared to the same quarter last year. Equities analysts expect that Comstock Resources will post 0.31 earnings per share for the current fiscal year.

Comstock Resources Company Profile

Comstock Resources, Inc is an independent energy company engaged in the acquisition, development, production and exploration of oil and natural gas properties. The company’s operations are focused primarily on unconventional resources, with natural gas serving as its principal product.

Comstock’s core asset base is concentrated in the Haynesville and Bossier shale formations in East Texas and North Louisiana. These regions are among the major natural gas-producing areas in the United States, and the company uses horizontal drilling and hydraulic fracturing to develop its properties.