Comstock Resources (NYSE:CRK) Price Target Raised to $6.00

Comstock Resources (NYSE:CRK) had its price target increased by Piper Sandler from $5.00 to $6.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an underweight rating on the oil and gas producer’s stock.

A number of other analysts also recently weighed in on the company. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $10.00 to $18.00 in a report on Monday, December 16th. BMO Capital Markets lifted their target price on Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Siebert Williams Shank lowered Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price target on the stock. in a research note on Tuesday, October 15th. Truist Financial raised their price objective on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Finally, Citigroup boosted their target price on shares of Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research report on Friday, December 6th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $13.40.

Comstock Resources Stock Performance

Shares of CRK stock opened at $18.48 on Wednesday. The stock has a market capitalization of $5.40 billion, a PE ratio of -102.67, a PEG ratio of 1.60 and a beta of 0.51. The business’s 50 day simple moving average is $17.78 and its 200 day simple moving average is $13.45. 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 one year low of $7.07 and a one year high of $22.06.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. The firm had revenue of $304.50 million during the quarter, compared to the consensus estimate of $308.75 million. During the same period in the prior year, the company posted $0.04 earnings per share. The company’s revenue for the quarter was down 19.2% compared to the same quarter last year. As a group, research analysts forecast that Comstock Resources will post -0.42 earnings per share for the current year.

Insider Buying and Selling at Comstock Resources

In other news, Director Elizabeth B. Davis sold 8,000 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $18.17, for a total value of $145,360.00. Following the completion of the sale, the director now directly owns 99,632 shares of the company’s stock, valued at $1,810,313.44. This represents a 7.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 38,000 shares of company stock worth $634,660. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Comstock Resources

Several institutional investors have recently bought and sold shares of CRK. Royce & Associates LP boosted its holdings in Comstock Resources by 79.2% during the 3rd quarter. Royce & Associates LP now owns 689,780 shares of the oil and gas producer’s stock worth $7,677,000 after acquiring an additional 304,780 shares during the last quarter. Barclays PLC boosted its holdings in Comstock Resources by 256.3% during the third quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer’s stock worth $1,731,000 after purchasing an additional 111,934 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Comstock Resources by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,413,820 shares of the oil and gas producer’s stock worth $15,736,000 after purchasing an additional 57,376 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Comstock Resources by 9.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 170,338 shares of the oil and gas producer’s stock valued at $1,896,000 after buying an additional 13,998 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Comstock Resources during the 3rd quarter worth approximately $419,000. 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.