Piper Sandler Boosts Comstock Resources (NYSE:CRK) Price Target to $19.00

Comstock Resources (NYSE:CRKGet Rating) had its price objective increased by analysts at Piper Sandler from $7.50 to $19.00 in a research note issued to investors on Thursday, The Fly reports. Piper Sandler’s target price suggests a potential upside of 7.47% from the stock’s current price.

Several other brokerages have also recently issued reports on CRK. Mizuho boosted their price objective on Comstock Resources from $13.00 to $20.00 and gave the company a “buy” rating in a report on Friday, April 8th. Zacks Investment Research raised Comstock Resources from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Tuesday, March 29th. Truist Financial cut their price target on Comstock Resources from $11.00 to $10.00 in a research note on Friday, January 14th. Finally, StockNews.com assumed coverage on Comstock Resources in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $15.75.

Shares of CRK stock opened at $17.68 on Thursday. The stock has a market cap of $4.12 billion, a PE ratio of -13.00 and a beta of 1.43. The business has a 50-day simple moving average of $11.14 and a 200-day simple moving average of $9.63. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 2.58. Comstock Resources has a 52-week low of $4.67 and a 52-week high of $18.55.

Comstock Resources (NYSE:CRKGet Rating) last issued 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 Thomson Reuters’ consensus estimate of $0.40 by ($0.03). The company 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 last year, the firm earned $0.14 EPS. Sell-side analysts anticipate that Comstock Resources will post 2.51 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System increased its stake in Comstock Resources by 1.7% during 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 increased its stake in Comstock Resources by 11.7% during the 3rd 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 in the last quarter. Ellevest Inc. increased its stake in Comstock Resources by 57.8% during the 1st quarter. Ellevest Inc. now owns 6,110 shares of the oil and gas producer’s stock worth $80,000 after buying an additional 2,237 shares in the last quarter. Dark Forest Capital Management LP purchased a new stake in Comstock Resources during the 3rd quarter worth approximately $25,000. Finally, Mackenzie Financial Corp increased its stake in Comstock Resources by 1.4% during the 3rd quarter. Mackenzie Financial Corp now owns 195,777 shares of the oil and gas producer’s stock worth $2,026,000 after buying an additional 2,695 shares in the last quarter. Hedge funds and other institutional investors own 28.03% of the company’s stock.

About Comstock Resources (Get Rating)

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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