Truist Lowers Comstock Resources (NYSE:CRK) Price Target to $10.00

Comstock Resources (NYSE:CRK) had its target price cut by Truist from $11.00 to $10.00 in a research note released on Friday, The Fly reports.

CRK has been the topic of several other research reports. TheStreet raised Comstock Resources from a d+ rating to a c rating in a research note on Monday, October 4th. US Capital Advisors raised Comstock Resources from a hold rating to an overweight rating in a research note on Tuesday, October 26th. Mizuho lowered their price target on Comstock Resources from $15.00 to $13.00 in a research note on Monday, January 3rd. Truist Securities boosted their price target on Comstock Resources from $7.00 to $12.00 and gave the company a hold rating in a research note on Thursday, October 7th. Finally, Zacks Investment Research cut Comstock Resources from a buy rating to a hold rating in a research note on Tuesday, December 7th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $8.54.

NYSE CRK opened at $8.89 on Friday. The stock’s 50-day moving average price is $8.62 and its two-hundred day moving average price is $7.98. The company has a debt-to-equity ratio of 4.27, a quick ratio of 0.29 and a current ratio of 0.29. Comstock Resources has a 1 year low of $4.37 and a 1 year high of $11.34.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Tuesday, November 2nd. The oil and gas producer reported $0.34 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.34. The firm had revenue of $511.18 million for the quarter, compared to the consensus estimate of $413.58 million. Comstock Resources had a positive return on equity of 26.10% and a negative net margin of 35.38%. During the same quarter in the previous year, the company earned ($0.06) EPS. As a group, equities analysts expect that Comstock Resources will post 1.39 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. LPL Financial LLC lifted its holdings in shares of Comstock Resources by 11.7% during the third quarter. LPL Financial LLC now owns 19,229 shares of the oil and gas producer’s stock worth $199,000 after buying an additional 2,007 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in Comstock Resources in the third quarter valued at $25,000. Mackenzie Financial Corp grew its position in Comstock Resources by 1.4% in the third quarter. Mackenzie Financial Corp now owns 195,777 shares of the oil and gas producer’s stock valued at $2,026,000 after acquiring an additional 2,695 shares during the period. BNP Paribas Arbitrage SA grew its position in Comstock Resources by 19.7% in the second quarter. BNP Paribas Arbitrage SA now owns 16,694 shares of the oil and gas producer’s stock valued at $111,000 after acquiring an additional 2,742 shares during the period. Finally, WINTON GROUP Ltd grew its position in Comstock Resources by 5.0% in the second quarter. WINTON GROUP Ltd now owns 61,364 shares of the oil and gas producer’s stock valued at $409,000 after acquiring an additional 2,944 shares during the period. Institutional investors own 26.82% of the company’s stock.

Comstock Resources Company Profile

Comstock Resources, Inc engages in the acquisition, development, and exploration of oil and natural gas. The firm operations concentrated in the Haynesville shale, a premier natural gas basin located in East Texas. The company was founded in 1919 and is headquartered in Frisco, TX.

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