Comstock Resources (NYSE:CRK) Earns Hold Rating from Analysts at Truist Financial

Truist Financial began coverage on shares of Comstock Resources (NYSE:CRK) in a report published on Thursday morning, MarketBeat Ratings reports. The firm issued a hold rating and a $16.00 price objective on the oil and gas producer’s stock.

CRK has been the topic of several other reports. Morgan Stanley set a $15.00 price target on shares of Comstock Resources and gave the company an “equal weight” rating in a report on Wednesday, August 19th. Citigroup decreased their price objective on shares of Comstock Resources from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, July 20th. Roth Capital reissued a “neutral” rating and issued a $14.00 target price on shares of Comstock Resources in a research report on Tuesday, September 1st. Mizuho upped their target price on shares of Comstock Resources from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, September 1st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Comstock Resources in a research report on Monday, August 17th. Nine analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $15.91.

Comstock Resources Price Performance

Shares of NYSE CRK opened at $12.84 on Thursday. Comstock Resources has a fifty-two week low of $12.12 and a fifty-two week high of $28.10. The business has a 50 day moving average price of $13.87 and a two-hundred day moving average price of $15.59. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.98. The firm has a market cap of $3.77 billion, a PE ratio of 7.21 and a beta of 0.14.

Comstock Resources (NYSE:CRK) last announced its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $353.28 million for the quarter, compared to analyst estimates of $419.22 million. Comstock Resources had a return on equity of 4.12% and a net margin of 23.31%.Comstock Resources’s quarterly revenue was down 24.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.13 EPS. Sell-side analysts expect that Comstock Resources will post 0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Comstock Resources

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Comstock Resources during the second quarter valued at $176,583,000. Dragoneer Investment Group LLC bought a new position in shares of Comstock Resources in the 4th quarter worth about $99,632,000. First Trust Advisors LP lifted its position in shares of Comstock Resources by 143.2% in the 1st quarter. First Trust Advisors LP now owns 1,079,633 shares of the oil and gas producer’s stock worth $22,759,000 after buying an additional 635,781 shares during the last quarter. Gemsstock Ltd. acquired a new position in shares of Comstock Resources in the 4th quarter valued at about $19,186,000. Finally, Goehring & Rozencwajg Associates LLC boosted its holdings in shares of Comstock Resources by 34.8% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 861,858 shares of the oil and gas producer’s stock valued at $18,168,000 after buying an additional 222,569 shares during the period. 36.13% of the stock is currently owned by institutional investors.

Comstock Resources Company Profile

Comstock Resources, Inc is an independent exploration and production company focused on finding, developing, acquiring and producing oil and natural gas in the United States. Its operations are primarily centered on natural gas and natural gas liquids, with production sold to commercial customers, utilities, marketers and other participants in energy markets.

The company’s principal assets are located in the Haynesville and Bossier shale plays in North Louisiana and East Texas, one of the largest natural gas-producing regions in the United States.