Comstock Resources (NYSE:CRK) Price Target Lowered to $22.00 at Mizuho

Comstock Resources (NYSE:CRK) had its target price cut by Mizuho from $27.00 to $22.00 in a research report report published on Monday morning,Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

Several other research analysts have also weighed in on the company. Wolfe Research raised Comstock Resources from a “peer perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a research report on Tuesday, June 17th. Roth Capital lowered Comstock Resources from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $18.00 to $12.00 in a research report on Monday, August 18th. Citigroup reaffirmed a “neutral” rating and set a $27.00 price target (up previously from $22.00) on shares of Comstock Resources in a research report on Friday, June 13th. Piper Sandler lowered their price target on Comstock Resources from $12.00 to $10.00 and set an “underweight” rating on the stock in a research report on Monday, August 4th. Finally, UBS Group decreased their target price on Comstock Resources from $18.00 to $14.00 and set a “sell” rating on the stock in a report on Wednesday, August 20th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Comstock Resources presently has an average rating of “Reduce” and an average price target of $18.08.

Comstock Resources Stock Up 1.8%

NYSE:CRK opened at $16.23 on Monday. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of -67.62 and a beta of 0.27. Comstock Resources has a twelve month low of $9.73 and a twelve month high of $31.17. The stock’s 50 day moving average price is $17.99 and its two-hundred day moving average price is $20.58. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.24.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Wednesday, July 30th. The oil and gas producer reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.04. The firm had revenue of $470.26 million for the quarter, compared to analyst estimates of $431.82 million. Comstock Resources had a positive return on equity of 3.65% and a negative net margin of 5.05%.The business’s quarterly revenue was up 90.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.20) EPS. Equities research analysts expect that Comstock Resources will post 0.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. increased its holdings in shares of Comstock Resources by 22.0% during the 2nd quarter. Osaic Holdings Inc. now owns 39,822 shares of the oil and gas producer’s stock worth $1,102,000 after acquiring an additional 7,185 shares during the last quarter. Orion Porfolio Solutions LLC bought a new stake in Comstock Resources in the 2nd quarter valued at $307,000. Castleark Management LLC bought a new stake in Comstock Resources in the 2nd quarter valued at $253,000. Public Sector Pension Investment Board boosted its stake in Comstock Resources by 7.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 309,605 shares of the oil and gas producer’s stock valued at $8,567,000 after purchasing an additional 22,307 shares during the period. Finally, HRT Financial LP boosted its stake in Comstock Resources by 1,506.1% in the 2nd quarter. HRT Financial LP now owns 237,131 shares of the oil and gas producer’s stock valued at $6,561,000 after purchasing an additional 222,367 shares during the period. 36.13% of the stock is owned by institutional investors and hedge funds.

About Comstock Resources

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. Its assets are located in the Haynesville and Bossier shales located in North Louisiana and East Texas. The company was incorporated in 1919 and is headquartered in Frisco, Texas.