Comstock Resources, Inc. (NYSE:CRK) Receives $20.11 Consensus Price Target from Brokerages

Shares of Comstock Resources, Inc. (NYSE:CRK) have been assigned an average rating of “Reduce” from the ten ratings firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $20.1111.

A number of brokerages have recently weighed in on CRK. Mizuho raised their price objective on Comstock Resources from $21.00 to $29.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Bank of America lowered Comstock Resources from a “buy” rating to a “neutral” rating and dropped their price target for the company from $27.00 to $24.00 in a research note on Friday, January 16th. Weiss Ratings restated a “hold (c-)” rating on shares of Comstock Resources in a report on Monday, December 29th. UBS Group set a $17.00 price objective on Comstock Resources in a report on Friday, February 13th. Finally, Citigroup reiterated a “neutral” rating and set a $25.00 target price (up from $24.00) on shares of Comstock Resources in a research report on Wednesday, January 14th.

Hedge Funds Weigh In On Comstock Resources

Several institutional investors have recently bought and sold shares of CRK. Wakefield Asset Management LLLP purchased a new position in Comstock Resources in the second quarter worth about $1,263,000. Federated Hermes Inc. raised its position in Comstock Resources by 10,032.7% during the third quarter. Federated Hermes Inc. now owns 359,307 shares of the oil and gas producer’s stock valued at $7,125,000 after purchasing an additional 355,761 shares during the period. Delta Investment Management LLC bought a new stake in shares of Comstock Resources in the 2nd quarter valued at approximately $2,215,000. GSA Capital Partners LLP purchased a new position in shares of Comstock Resources in the 3rd quarter worth approximately $2,395,000. Finally, Disciplined Investors L.L.C. boosted its holdings in shares of Comstock Resources by 14.2% in the 2nd quarter. Disciplined Investors L.L.C. now owns 115,826 shares of the oil and gas producer’s stock worth $3,205,000 after purchasing an additional 14,391 shares during the period. Institutional investors own 36.13% of the company’s stock.

Comstock Resources Price Performance

CRK stock opened at $20.00 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.41 and a current ratio of 0.49. The company’s fifty day moving average price is $21.96 and its 200-day moving average price is $20.43. Comstock Resources has a one year low of $14.65 and a one year high of $31.17. The company has a market capitalization of $5.86 billion, a PE ratio of 14.18 and a beta of 0.39.

Comstock Resources (NYSE:CRK) last posted its earnings results on Wednesday, February 11th. The oil and gas producer reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.05. The company had revenue of $787.32 million during the quarter, compared to analysts’ expectations of $504.66 million. Comstock Resources had a net margin of 17.80% and a return on equity of 6.30%. Comstock Resources’s quarterly revenue was up 115.5% on a year-over-year basis. During the same period last year, the company posted $0.16 earnings per share. On average, equities analysts anticipate that Comstock Resources will post 0.54 EPS for the current fiscal year.

About Comstock Resources

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.