Comstock Resources (NYSE:CRK) Price Target Raised to $15.00

Comstock Resources (NYSE:CRK) had its target price upped by The Goldman Sachs Group from $9.00 to $15.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a sell rating on the oil and gas producer’s stock.

Other analysts also recently issued reports about the company. Weiss Ratings restated a “hold (c)” rating on shares of Comstock Resources in a report on Monday, August 17th. Williams Trading set a $16.00 target price on shares of Comstock Resources in a report on Thursday, May 14th. Roth Capital reiterated a “neutral” rating and set a $14.00 target price on shares of Comstock Resources in a report on Tuesday. BMO Capital Markets reissued a “market perform” rating and set a $17.00 target price (up from $13.00) on shares of Comstock Resources in a research report on Wednesday. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Comstock Resources in a report on Wednesday. Eight investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $15.80.

Comstock Resources Stock Up 2.0%

Shares of NYSE:CRK opened at $15.25 on Wednesday. The business’s 50 day moving average is $13.86 and its 200 day moving average is $15.92. The stock has a market cap of $4.48 billion, a P/E ratio of 8.57 and a beta of 0.14. Comstock Resources has a 52-week low of $12.12 and a 52-week high of $28.10. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.98.

Comstock Resources (NYSE:CRK) last issued its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Comstock Resources had a return on equity of 4.12% and a net margin of 23.31%.The business had revenue of $353.28 million during the quarter, compared to analyst estimates of $419.22 million. During the same period in the previous year, the company posted $0.13 EPS. Comstock Resources’s revenue was down 24.9% on a year-over-year basis. Sell-side analysts predict that Comstock Resources will post 0.4 EPS for the current year.

Hedge Funds Weigh In On Comstock Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRK. Rothschild Investment LLC lifted its position in shares of Comstock Resources by 740.4% during the fourth quarter. Rothschild Investment LLC now owns 1,143 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 1,007 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in Comstock Resources during the fourth quarter valued at approximately $29,000. Advisory Services Network LLC purchased a new stake in Comstock Resources during the third quarter valued at approximately $27,000. Hantz Financial Services Inc. boosted its stake in Comstock Resources by 877.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,437 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 1,290 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in Comstock Resources in the first quarter worth $29,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Comstock Resources Company Profile

Comstock Resources, Inc is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties in the United States. The company focuses on generating long-term value through the efficient development of unconventional resource plays and conventional prospects. Its activities encompass drilling, completion and production operations, as well as the marketing of natural gas, natural gas liquids and crude oil.

Comstock holds a core position in the Haynesville Shale of Northwest Louisiana, one of the most active natural gas plays in North America, and has built a complementary portfolio in the Delaware Basin of West Texas.