Comstock Resources, Inc. (NYSE:CRK) Receives Average Recommendation of “Hold” from Brokerages

Shares of Comstock Resources, Inc. (NYSE:CRKGet Rating) have received a consensus rating of “Hold” from the seven research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $18.00.

A number of research analysts have issued reports on CRK shares. Mizuho upped their price objective on Comstock Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, May 31st. StockNews.com started coverage on Comstock Resources in a research note on Thursday, March 31st. They set a “hold” rating for the company. Truist Financial increased their price target on Comstock Resources from $14.00 to $19.00 in a research note on Thursday, April 21st. Piper Sandler downgraded Comstock Resources from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $19.00 to $16.00 in a research note on Wednesday, May 18th. Finally, Zacks Investment Research upgraded Comstock Resources from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Tuesday, March 29th.

Several hedge funds and other institutional investors have recently made changes to their positions in CRK. First Trust Advisors LP grew its position in Comstock Resources by 30.1% during the 1st quarter. First Trust Advisors LP now owns 177,840 shares of the oil and gas producer’s stock worth $1,232,000 after acquiring an additional 41,094 shares during the last quarter. Bank of America Corp DE grew its position in Comstock Resources by 93.3% during the 2nd quarter. Bank of America Corp DE now owns 88,961 shares of the oil and gas producer’s stock worth $594,000 after acquiring an additional 42,930 shares during the last quarter. Wells Fargo & Company MN grew its position in Comstock Resources by 36.9% during the 2nd quarter. Wells Fargo & Company MN now owns 86,398 shares of the oil and gas producer’s stock worth $576,000 after acquiring an additional 23,285 shares during the last quarter. Morgan Stanley grew its position in Comstock Resources by 83.1% during the 2nd quarter. Morgan Stanley now owns 1,328,931 shares of the oil and gas producer’s stock worth $8,864,000 after acquiring an additional 603,025 shares during the last quarter. Finally, Advisor Group Holdings Inc. grew its position in Comstock Resources by 3,275.5% during the 3rd quarter. Advisor Group Holdings Inc. now owns 11,713 shares of the oil and gas producer’s stock worth $122,000 after acquiring an additional 11,366 shares during the last quarter. 34.56% of the stock is currently owned by institutional investors.

NYSE CRK opened at $20.29 on Friday. The firm has a market capitalization of $4.73 billion, a P/E ratio of -16.10 and a beta of 1.11. The business has a fifty day simple moving average of $16.40 and a 200 day simple moving average of $11.28. Comstock Resources has a 12 month low of $5.05 and a 12 month high of $21.11. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 2.82.

Comstock Resources (NYSE:CRKGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.51. The firm had revenue of $524.84 million during the quarter, compared to the consensus estimate of $438.02 million. Comstock Resources had a positive return on equity of 45.27% and a negative net margin of 10.76%. The business’s revenue for the quarter was up 54.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 EPS. As a group, sell-side analysts predict that Comstock Resources will post 3.36 EPS for the current fiscal year.

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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