Comstock Resources (CRK) – Analysts’ Weekly Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Comstock Resources (NYSE: CRK) in the last few weeks:

• 4/21/2022 – Comstock Resources had its price target raised by analysts at Piper Sandler from $7.50 to $19.00. They now have a “neutral” rating on the stock.
• 4/21/2022 – Comstock Resources had its price target raised by analysts at Truist Financial Co. from $14.00 to $19.00.
• 4/8/2022 – Comstock Resources had its price target raised by analysts at Mizuho from $13.00 to $20.00. They now have a “buy” rating on the stock.
• 3/31/2022 – Comstock Resources is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 3/29/2022 – Comstock Resources was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $14.00 price target on the stock. According to Zacks, “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 oil and natural gas reserve base is entirely concentrated in the Gulf of Mexico, Southeast Texas and East Texas/North Louisiana regions. “
• 2/26/2022 – Comstock Resources was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

Shares of Comstock Resources stock traded down $0.37 during trading on Thursday, reaching $17.31. The company’s stock had a trading volume of 94,140 shares, compared to its average volume of 3,942,756. The company has a 50-day moving average price of $11.14 and a two-hundred day moving average price of $9.63. The firm has a market cap of $4.03 billion, a PE ratio of -12.73 and a beta of 1.43. Comstock Resources, Inc. has a fifty-two week low of $4.67 and a fifty-two week high of $18.55. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 2.58.

Comstock Resources (NYSE:CRK – Get Rating) last announced its quarterly earnings data on Tuesday, February 15th. The oil and gas producer reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.03). The firm had revenue of $655.38 million during the quarter, compared to analyst estimates of $454.35 million. Comstock Resources had a negative net margin of 13.06% and a positive return on equity of 34.73%. During the same period in the prior year, the firm posted $0.14 earnings per share. On average, analysts predict that Comstock Resources, Inc. will post 2.51 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its position in shares of Comstock Resources by 1.7% in the 4th quarter. California State Teachers Retirement System now owns 118,266 shares of the oil and gas producer’s stock worth $957,000 after buying an additional 1,995 shares in the last quarter. LPL Financial LLC lifted its stake 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 valued at $199,000 after buying an additional 2,007 shares during the period. CWM LLC boosted its position in Comstock Resources by 15.4% during the first quarter. CWM LLC now owns 15,780 shares of the oil and gas producer’s stock worth $206,000 after acquiring an additional 2,106 shares during the last quarter. Ellevest Inc. grew its stake in Comstock Resources by 57.8% in the 1st quarter. Ellevest Inc. now owns 6,110 shares of the oil and gas producer’s stock worth $80,000 after acquiring an additional 2,237 shares during the period. Finally, Dark Forest Capital Management LP acquired a new position in Comstock Resources in the 3rd quarter valued at $25,000. Institutional investors and hedge funds own 28.03% of the company’s stock.

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of oil and natural gas primarily in North Louisiana and East Texas, the United States. As of December 31, 2021, the company had 6.1 trillion cubic feet of the natural gas equivalent of proved reserves.

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