Comstock Resources (NYSE:CRK) Stock Gets Price Target Reduction from Mizuho

Comstock Resources (NYSE:CRK) had its price target reduced by Mizuho from $20.00 to $17.00 in a research report report published on Friday,Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

Other equities research analysts have also issued research reports about the stock. Zacks Research lowered shares of Comstock Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, July 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Comstock Resources in a research note on Monday, August 17th. Roth Capital reaffirmed a “neutral” rating and issued a $14.00 target price on shares of Comstock Resources in a research note on Tuesday, September 1st. Truist Financial began coverage on shares of Comstock Resources in a research report on Thursday, September 17th. They set a “hold” rating and a $16.00 target price on the stock. Finally, Jefferies Financial Group began coverage on shares of Comstock Resources in a research report on Friday, September 25th. They set a “hold” rating and a $14.00 target price on the stock. Ten research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, Comstock Resources presently has an average rating of “Reduce” and a consensus price target of $15.00.

Comstock Resources Stock Down 0.1%

Shares of CRK opened at $13.98 on Friday. The company has a market capitalization of $4.11 billion, a P/E ratio of 7.85 and a beta of 0.52. Comstock Resources has a one year low of $12.12 and a one year high of $28.10. The business’s 50 day simple moving average is $13.94 and its 200-day simple moving average is $14.46. 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 released its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $353.28 million during the quarter, compared to analysts’ expectations of $419.22 million. Comstock Resources had a return on equity of 4.12% and a net margin of 23.31%. The business’s revenue was down 24.9% on a year-over-year basis. During the same period last year, the firm posted $0.13 EPS. As a group, sell-side analysts predict that Comstock Resources will post 0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new stake in Comstock Resources during the second quarter worth about $26,000. Whittier Trust Co. of Nevada Inc. bought a new position in Comstock Resources in the first quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd bought a new position in Comstock Resources in the fourth quarter valued at approximately $36,000. Axiom Investment Management LLC bought a new position in Comstock Resources in the first quarter valued at approximately $63,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Comstock Resources during the 2nd quarter worth approximately $68,000. 36.13% of the stock is currently owned by institutional investors.

Comstock Resources Company Profile

Comstock Resources, Inc is an independent energy company engaged in the acquisition, development, exploration and production of oil and natural gas properties. The company is primarily focused on natural gas and operates in the United States.

Comstock’s operations are concentrated in the Haynesville shale, a major natural gas-producing region in East Texas and northern Louisiana. Its activities include drilling and completing horizontal wells, developing natural gas acreage and producing natural gas and related hydrocarbon products for sale to energy markets.

Headquartered in Frisco, Texas, Comstock has developed its business through organic drilling and strategic acquisitions, including the 2018 acquisition of Covey Park Energy, which expanded its position in the Haynesville basin.