Brokerages Set Comstock Resources, Inc. (NYSE:CRK) PT at $20.60

Comstock Resources, Inc. (NYSE:CRK) has earned an average rating of “Reduce” from the eleven research firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $20.60.

A number of brokerages have commented on CRK. Zacks Research raised shares of Comstock Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Mizuho increased their price target on shares of Comstock Resources from $21.00 to $29.00 and gave the company a “neutral” rating in a report on Friday, December 12th. UBS Group reissued a “sell” rating and set a $18.00 price objective (up from $16.00) on shares of Comstock Resources in a research note on Friday, December 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Comstock Resources in a research report on Monday, December 22nd. Finally, Piper Sandler dropped their target price on Comstock Resources from $9.00 to $8.00 and set an “underweight” rating for the company in a report on Tuesday, November 18th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Capital Square LLC raised its stake in shares of Comstock Resources by 34.1% in the third quarter. Capital Square LLC now owns 20,580 shares of the oil and gas producer’s stock valued at $408,000 after acquiring an additional 5,229 shares during the period. CIBC Bancorp USA Inc. bought a new position in Comstock Resources during the 3rd quarter valued at about $205,000. Advisory Services Network LLC purchased a new stake in Comstock Resources in the 3rd quarter worth about $27,000. Caxton Associates LLP bought a new stake in Comstock Resources in the third quarter worth about $5,051,000. Finally, Woodline Partners LP boosted its position in shares of Comstock Resources by 50.5% during the third quarter. Woodline Partners LP now owns 1,231,916 shares of the oil and gas producer’s stock valued at $24,429,000 after buying an additional 413,611 shares during the period. 36.13% of the stock is owned by hedge funds and other institutional investors.

Comstock Resources Stock Up 1.9%

Shares of CRK opened at $23.56 on Friday. The stock has a market capitalization of $6.90 billion, a price-to-earnings ratio of 94.24 and a beta of 0.33. Comstock Resources has a 1 year low of $14.65 and a 1 year high of $31.17. The business’s 50 day simple moving average is $22.60 and its 200-day simple moving average is $21.01. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.41 and a quick ratio of 0.41.

Comstock Resources (NYSE:CRK) last posted its earnings results on Monday, November 3rd. The oil and gas producer reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. Comstock Resources had a net margin of 3.14% and a return on equity of 6.71%. The firm had revenue of $449.85 million during the quarter, compared to analyst estimates of $433.54 million. During the same period last year, the firm posted ($0.17) earnings per share. Comstock Resources’s revenue for the quarter was up 47.8% compared to the same quarter last year. As a group, equities analysts expect that Comstock Resources will post 0.54 earnings per share 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.