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

Shares of Comstock Resources, Inc. (NYSE:CRK) have received a consensus recommendation of “Reduce” from the thirteen ratings firms that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $13.73.

CRK has been the topic of a number of recent research reports. Citigroup increased their price target 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. Williams Trading set a $13.00 target price on shares of Comstock Resources in a research report on Wednesday, March 5th. StockNews.com upgraded shares of Comstock Resources to a “sell” rating in a research report on Thursday, March 20th. Piper Sandler lifted their price objective on Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Wednesday, January 29th. Finally, Morgan Stanley restated a “cautious” rating and set a $22.00 target price (up from $21.00) on shares of Comstock Resources in a report on Wednesday, March 26th.

Comstock Resources Stock Performance

Comstock Resources stock opened at $20.32 on Wednesday. Comstock Resources has a fifty-two week low of $7.74 and a fifty-two week high of $22.06. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.60 and a current ratio of 0.46. The stock has a market cap of $5.95 billion, a P/E ratio of -26.74, a price-to-earnings-growth ratio of 1.65 and a beta of 0.55. The firm’s fifty day moving average price is $18.99 and its 200-day moving average price is $16.01.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.14. The firm had revenue of $366.51 million during the quarter, compared to analyst estimates of $370.62 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. On average, equities research analysts expect that Comstock Resources will post 0.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Comstock Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can boosted its position in Comstock Resources by 1.9% during the 4th quarter. Bank of Montreal Can now owns 40,983 shares of the oil and gas producer’s stock valued at $747,000 after acquiring an additional 772 shares in the last quarter. Sunbelt Securities Inc. grew its stake in Comstock Resources by 140.0% in the third quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock worth $27,000 after purchasing an additional 1,400 shares during the period. VSM Wealth Advisory LLC bought a new position in Comstock Resources in the fourth quarter worth $27,000. Natixis Advisors LLC lifted its position in Comstock Resources by 6.6% during the fourth quarter. Natixis Advisors LLC now owns 25,778 shares of the oil and gas producer’s stock valued at $470,000 after buying an additional 1,585 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Comstock Resources by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,539 shares of the oil and gas producer’s stock valued at $957,000 after buying an additional 1,793 shares in the last quarter. Hedge funds and other 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.