Comstock Resources, Inc. (NYSE:CRK) Receives $17.15 Consensus PT from Brokerages

Shares of Comstock Resources, Inc. (NYSE:CRK) have been assigned an average recommendation of “Reduce” from the eleven brokerages that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $18.30.

CRK has been the topic of several research analyst reports. Wall Street Zen raised Comstock Resources to a “sell” rating in a research note on Thursday, May 8th. Piper Sandler reissued an “underweight” rating and issued a $12.00 price objective (up previously from $6.00) on shares of Comstock Resources in a research note on Tuesday, May 13th. Bank of America increased their price objective on Comstock Resources from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Citigroup increased their price objective on Comstock Resources from $22.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Williams Trading set a $13.00 price objective on Comstock Resources in a research note on Wednesday, March 5th.

Comstock Resources Trading Down 1.2%

Shares of NYSE CRK opened at $25.30 on Monday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.60 and a current ratio of 0.46. The business’s 50 day moving average price is $21.74 and its 200-day moving average price is $19.52. Comstock Resources has a fifty-two week low of $7.74 and a fifty-two week high of $26.16. The company has a market cap of $7.41 billion, a price-to-earnings ratio of -33.29, a PEG ratio of 1.65 and a beta of 0.32.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $512.85 million for the quarter, compared to the consensus estimate of $408.99 million. During the same period in the prior year, the business posted ($0.03) earnings per share. The company’s revenue for the quarter was up 52.7% on a year-over-year basis. On average, sell-side analysts expect that Comstock Resources will post 0.54 earnings per share for the current year.

Institutional Trading of Comstock Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. VSM Wealth Advisory LLC bought a new stake in Comstock Resources during the 4th quarter valued at $27,000. Nisa Investment Advisors LLC boosted its position in shares of Comstock Resources by 129.3% in the 1st 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 in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Comstock Resources in the 1st quarter worth $52,000. Sterling Capital Management LLC boosted its position in shares of Comstock Resources by 804.6% in the 4th 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 in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Comstock Resources by 225.2% in the 4th 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 in the last quarter. Institutional investors own 36.13% of the company’s stock.

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.