Comstock Resources (NYSE:CRK) Price Target Raised to $24.00

Comstock Resources (NYSE:CRK) had its price target hoisted by Mizuho from $22.00 to $24.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the oil and gas producer’s stock.

A number of other equities research analysts have also recently weighed in on the company. UBS Group started coverage on Comstock Resources in a research note on Tuesday, April 22nd. They issued a “neutral” rating and a $19.00 price target on the stock. Morgan Stanley restated a “cautious” rating and issued a $22.00 price target (up previously from $21.00) on shares of Comstock Resources in a research note on Wednesday, March 26th. StockNews.com upgraded Comstock Resources to a “sell” rating in a research report on Thursday, May 8th. Piper Sandler increased their price objective on Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 29th. Finally, Truist Financial increased their price objective on Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $15.32.

Comstock Resources Stock Up 2.3%

CRK opened at $24.36 on Tuesday. Comstock Resources has a 1-year low of $7.74 and a 1-year high of $24.43. The stock’s fifty day simple moving average is $19.79 and its 200 day simple moving average is $18.00. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27. The stock has a market cap of $7.14 billion, a PE ratio of -32.05, a price-to-earnings-growth ratio of 1.65 and a beta of 0.14.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The business had revenue of $512.85 million for the quarter, compared to analysts’ expectations of $408.99 million. During the same quarter in the prior year, the business earned ($0.03) EPS. The firm’s revenue for the quarter was up 52.7% on a year-over-year basis. As a group, research analysts expect that Comstock Resources will post 0.54 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. VSM Wealth Advisory LLC bought a new position in shares of Comstock Resources in the fourth quarter worth $27,000. Nisa Investment Advisors LLC increased its position in shares of Comstock Resources by 129.3% in the first quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer’s stock worth $42,000 after purchasing an additional 1,170 shares during the period. Emerald Mutual Fund Advisers Trust bought a new position in shares of Comstock Resources in the first quarter worth $52,000. Sterling Capital Management LLC increased its position in shares of Comstock Resources by 804.6% in the fourth quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer’s stock worth $54,000 after purchasing an additional 2,631 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in shares of Comstock Resources by 225.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock worth $64,000 after purchasing an additional 2,326 shares during the period. Institutional investors own 36.13% of the company’s stock.

Comstock Resources Company Profile

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.