Comstock Resources (NYSE:CRK) Stock Price Up 3% – Time to Buy?

Comstock Resources, Inc. (NYSE:CRK)’s share price rose 3% during mid-day trading on Monday . The company traded as high as $20.18 and last traded at $20.43. Approximately 83,914 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 2,720,613 shares. The stock had previously closed at $19.84.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Citigroup raised their price target on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research report on Friday, December 6th. StockNews.com raised shares of Comstock Resources to a “sell” rating in a report on Thursday, March 20th. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Morgan Stanley restated a “cautious” rating and set a $22.00 price objective (up previously from $21.00) on shares of Comstock Resources in a research note on Wednesday, March 26th. Finally, Truist Financial upped their target price on Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $13.73.

Comstock Resources Stock Performance

The company has a 50 day simple moving average of $19.01 and a 200 day simple moving average of $15.89. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of -26.74, a P/E/G ratio of 1.65 and a beta of 0.55.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, beating the consensus estimate of $0.02 by $0.14. The business had revenue of $366.51 million during the quarter, compared to the consensus estimate of $370.62 million. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. As a group, equities research analysts forecast that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Institutional Investors Weigh In On Comstock Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Intech Investment Management LLC acquired a new stake in shares of Comstock Resources during the third quarter valued at about $419,000. Charles Schwab Investment Management Inc. raised its holdings in Comstock Resources by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,413,820 shares of the oil and gas producer’s stock valued at $15,736,000 after buying an additional 57,376 shares during the last quarter. FMR LLC boosted its position in Comstock Resources by 266.2% during the 3rd quarter. FMR LLC now owns 25,415 shares of the oil and gas producer’s stock worth $283,000 after buying an additional 18,475 shares during the period. Verition Fund Management LLC grew its holdings in Comstock Resources by 267.8% during the 3rd quarter. Verition Fund Management LLC now owns 141,143 shares of the oil and gas producer’s stock worth $1,571,000 after acquiring an additional 102,767 shares during the last quarter. Finally, Weiss Asset Management LP bought a new stake in Comstock Resources during the 3rd quarter worth approximately $1,263,000. 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.