Comstock Resources (NYSE:CRK) Price Target Raised to $15.50

Comstock Resources (NYSE:CRK) had its price target lifted by stock analysts at Citigroup from $12.50 to $15.50 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas producer’s stock. Citigroup’s price target points to a potential upside of 7.34% from the stock’s previous close.

A number of other research analysts have also commented on the company. Bank of America started coverage on Comstock Resources in a report on Monday, October 28th. They set a “buy” rating and a $14.00 price objective on the stock. BMO Capital Markets lifted their price objective on Comstock Resources from $10.00 to $11.00 and gave the company a “market perform” rating in a research report on Friday, October 4th. Mizuho cut their price objective on Comstock Resources from $11.00 to $10.00 and set an “underperform” rating for the company in a research report on Monday, September 16th. Piper Sandler downgraded Comstock Resources from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $8.00 to $5.00 in a research report on Thursday, August 15th. Finally, Truist Financial lifted their price objective on Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Comstock Resources has an average rating of “Hold” and an average price target of $10.89.

Comstock Resources Stock Down 2.0 %

Comstock Resources stock traded down $0.29 during mid-day trading on Friday, hitting $14.44. The company’s stock had a trading volume of 1,141,539 shares, compared to its average volume of 3,410,132. The firm’s 50 day moving average is $12.91 and its 200 day moving average is $11.38. The company has a market cap of $4.22 billion, a PE ratio of -80.22 and a beta of 0.57. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.60 and a quick ratio of 0.60. Comstock Resources has a 52-week low of $7.07 and a 52-week high of $15.84.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The firm had revenue of $304.50 million for the quarter, compared to analysts’ expectations of $308.75 million. During the same period last year, the business earned $0.04 earnings per share. The firm’s revenue for the quarter was down 19.2% on a year-over-year basis. On average, analysts anticipate that Comstock Resources will post -0.44 earnings per share for the current year.

Hedge Funds Weigh In On Comstock Resources

A number of hedge funds have recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new position in shares of Comstock Resources during the third quarter valued at about $25,000. Sunbelt Securities Inc. grew its holdings in shares of Comstock Resources by 140.0% during the third quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock valued at $27,000 after buying an additional 1,400 shares during the last quarter. Blue Trust Inc. acquired a new position in shares of Comstock Resources during the second quarter valued at about $32,000. EverSource Wealth Advisors LLC grew its holdings in shares of Comstock Resources by 2,533.8% during the second quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 3,446 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Comstock Resources by 27.5% during the second quarter. GAMMA Investing LLC now owns 6,083 shares of the oil and gas producer’s stock valued at $63,000 after buying an additional 1,312 shares during 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.