Analysts Set Comstock Resources, Inc. (NYSE:CRK) PT at $16.11

Comstock Resources, Inc. (NYSE:CRK) has received an average rating of “Reduce” from the ten analysts that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $16.1111.

A number of brokerages have issued reports on CRK. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Comstock Resources in a report on Wednesday, May 20th. Morgan Stanley set a $16.00 target price on shares of Comstock Resources and gave the stock an “equal weight” rating in a report on Monday, June 29th. Mizuho cut their target price on shares of Comstock Resources from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, May 27th. Wall Street Zen cut shares of Comstock Resources from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 9th. Finally, Citigroup reiterated a “neutral” rating on shares of Comstock Resources in a report on Wednesday, April 15th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CRK. CreativeOne Wealth LLC raised its holdings in shares of Comstock Resources by 3.7% in the third quarter. CreativeOne Wealth LLC now owns 13,931 shares of the oil and gas producer’s stock valued at $276,000 after acquiring an additional 500 shares in the last quarter. Natixis Advisors LLC grew its holdings in Comstock Resources by 2.0% during the 4th quarter. Natixis Advisors LLC now owns 29,703 shares of the oil and gas producer’s stock worth $689,000 after acquiring an additional 572 shares in the last quarter. Carrera Capital Advisors grew its holdings in Comstock Resources by 0.7% during the 4th quarter. Carrera Capital Advisors now owns 82,910 shares of the oil and gas producer’s stock worth $1,922,000 after acquiring an additional 606 shares in the last quarter. GAMMA Investing LLC increased its position in Comstock Resources by 12.1% during the 4th quarter. GAMMA Investing LLC now owns 6,303 shares of the oil and gas producer’s stock valued at $146,000 after purchasing an additional 679 shares during the period. Finally, Farther Finance Advisors LLC increased its position in Comstock Resources by 14.2% during the 4th quarter. Farther Finance Advisors LLC now owns 6,435 shares of the oil and gas producer’s stock valued at $149,000 after purchasing an additional 802 shares during the period. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Comstock Resources Stock Performance

NYSE:CRK opened at $13.35 on Tuesday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.96. Comstock Resources has a 12-month low of $12.44 and a 12-month high of $28.10. The stock has a 50-day moving average price of $13.77 and a 200 day moving average price of $17.98. The stock has a market capitalization of $3.92 billion, a P/E ratio of 6.09 and a beta of 0.10.

Comstock Resources (NYSE:CRK) last issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.08). Comstock Resources had a net margin of 27.18% and a return on equity of 5.54%. The business had revenue of $587.35 million for the quarter, compared to the consensus estimate of $554.01 million. During the same period last year, the business posted $0.18 EPS. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. Equities research analysts forecast that Comstock Resources will post 0.49 EPS for the current fiscal year.

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.