Comstock Resources, Inc. (NYSE:CRK) Given Average Rating of “Reduce” by Analysts

Comstock Resources, Inc. (NYSE:CRK) has earned an average rating of “Reduce” from the thirteen brokerages that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $11.78.

Several equities analysts have recently issued reports on CRK shares. Truist Financial raised their price target on shares of Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Citigroup lifted their target price on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a report on Friday, December 6th. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and upped their price target for the company from $10.00 to $18.00 in a research report on Monday, December 16th. Siebert Williams Shank downgraded Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective for the company. in a research report on Tuesday, October 15th. Finally, Bank of America began coverage on Comstock Resources in a report on Monday, October 28th. They issued a “buy” rating and a $14.00 target price on the stock.

Institutional Investors Weigh In On Comstock Resources

A number of large investors have recently bought and sold shares of CRK. Royce & Associates LP grew its stake in shares of Comstock Resources by 79.2% in the 3rd quarter. Royce & Associates LP now owns 689,780 shares of the oil and gas producer’s stock valued at $7,677,000 after buying an additional 304,780 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Comstock Resources by 4.2% in the third 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 acquiring an additional 57,376 shares during the period. Intech Investment Management LLC bought a new stake in shares of Comstock Resources during the third quarter valued at approximately $419,000. Goehring & Rozencwajg Associates LLC raised its position in shares of Comstock Resources by 27.8% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 683,570 shares of the oil and gas producer’s stock worth $7,095,000 after purchasing an additional 148,700 shares during the period. Finally, HITE Hedge Asset Management LLC bought a new position in shares of Comstock Resources in the 2nd quarter worth $6,544,000. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Comstock Resources Stock Performance

Shares of NYSE:CRK opened at $15.82 on Monday. The company’s 50 day simple moving average is $13.83 and its 200 day simple moving average is $11.74. 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 1 year low of $7.07 and a 1 year high of $17.79. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of -87.88 and a beta of 0.57.

Comstock Resources (NYSE:CRK) last posted its earnings results 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). The company had revenue of $304.50 million during the quarter, compared to the consensus estimate of $308.75 million. Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The firm’s revenue was down 19.2% compared to the same quarter last year. During the same period last year, the company posted $0.04 EPS. As a group, research analysts predict that Comstock Resources will post -0.44 EPS for the current fiscal year.

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.