Analysts Set Comstock Resources, Inc. (NYSE:CRK) PT at $20.60

Comstock Resources, Inc. (NYSE:CRK) has earned an average recommendation of “Reduce” from the eleven analysts that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $20.60.

A number of research firms have recently commented on CRK. Zacks Research upgraded Comstock Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Mizuho boosted their price target on shares of Comstock Resources from $21.00 to $29.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Piper Sandler decreased their price objective on shares of Comstock Resources from $9.00 to $8.00 and set an “underweight” rating on the stock in a report on Tuesday, November 18th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Comstock Resources in a research report on Monday. Finally, UBS Group reissued a “sell” rating and set a $18.00 target price (up previously from $16.00) on shares of Comstock Resources in a research note on Friday, December 12th.

Comstock Resources Trading Down 1.1%

Shares of Comstock Resources stock opened at $23.86 on Friday. The firm has a 50-day simple moving average of $22.84 and a two-hundred day simple moving average of $20.99. The company has a market cap of $6.99 billion, a P/E ratio of 95.45 and a beta of 0.33. Comstock Resources has a fifty-two week low of $14.65 and a fifty-two week high of $31.17. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.41 and a current ratio of 0.41.

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

Hedge Funds Weigh In On Comstock Resources

A number of hedge funds have recently made changes to their positions in the company. Bank of America Corp DE lifted its position in shares of Comstock Resources by 5.1% in the third quarter. Bank of America Corp DE now owns 1,948,702 shares of the oil and gas producer’s stock valued at $38,643,000 after acquiring an additional 94,856 shares in the last quarter. Woodline Partners LP lifted its holdings in Comstock Resources by 50.5% in the 3rd quarter. Woodline Partners LP now owns 1,231,916 shares of the oil and gas producer’s stock valued at $24,429,000 after purchasing an additional 413,611 shares in the last quarter. Aventail Capital Group LP boosted its stake in Comstock Resources by 149.9% during 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 purchasing an additional 686,002 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Comstock Resources by 67.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,086,868 shares of the oil and gas producer’s stock worth $22,107,000 after buying an additional 437,476 shares in the last quarter. Finally, Man Group plc raised its position in shares of Comstock Resources by 1,752.8% in the third quarter. Man Group plc now owns 600,205 shares of the oil and gas producer’s stock valued at $11,902,000 after buying an additional 567,810 shares during the last quarter. Institutional investors and hedge funds 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.