Analysts Set Comstock Resources, Inc. (NYSE:CRK) PT at $10.25

Shares of Comstock Resources, Inc. (NYSE:CRK) have been assigned a consensus rating of “Hold” from the nine ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $10.25.

A number of research firms have recently commented on CRK. StockNews.com upgraded Comstock Resources to a “sell” rating in a report on Monday, April 29th. The Goldman Sachs Group raised their price target on shares of Comstock Resources from $9.00 to $10.00 and gave the company a “sell” rating in a report on Tuesday, May 28th. Stifel Nicolaus lowered their price objective on Comstock Resources from $14.00 to $13.50 and set a “buy” rating for the company in a research note on Tuesday, April 23rd. Capital One Financial cut shares of Comstock Resources from an “overweight” rating to an “equal weight” rating in a report on Wednesday, May 15th. Finally, Piper Sandler reduced their target price on Comstock Resources from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Thursday, March 7th.

Institutional Trading of Comstock Resources

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Comstock Resources by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 10,829,100 shares of the oil and gas producer’s stock worth $95,838,000 after purchasing an additional 34,231 shares during the period. KGH Ltd grew its holdings in Comstock Resources by 119.3% during the third quarter. KGH Ltd now owns 8,586,000 shares of the oil and gas producer’s stock worth $94,704,000 after acquiring an additional 4,670,959 shares during the period. Dimensional Fund Advisors LP raised its position in Comstock Resources by 29.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,139,351 shares of the oil and gas producer’s stock worth $72,035,000 after acquiring an additional 1,833,302 shares in the last quarter. American Century Companies Inc. lifted its holdings in Comstock Resources by 7.9% in the 3rd quarter. American Century Companies Inc. now owns 1,321,191 shares of the oil and gas producer’s stock valued at $14,573,000 after acquiring an additional 96,669 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Comstock Resources by 10.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,015,403 shares of the oil and gas producer’s stock valued at $8,986,000 after purchasing an additional 93,140 shares in the last quarter. Institutional investors own 36.13% of the company’s stock.

Comstock Resources Stock Down 4.3 %

CRK opened at $10.69 on Monday. The business has a 50-day moving average of $10.80 and a two-hundred day moving average of $9.31. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.64 and a quick ratio of 0.64. Comstock Resources has a 12 month low of $7.07 and a 12 month high of $13.39. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 48.57 and a beta of 0.60.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. The company had revenue of $335.77 million for the quarter, compared to analyst estimates of $343.97 million. Comstock Resources had a net margin of 4.27% and a return on equity of 1.25%. Comstock Resources’s revenue for the quarter was down 31.4% on a year-over-year basis. During the same quarter last year, the business earned $0.33 EPS. On average, research analysts expect that Comstock Resources will post -0.09 earnings per share for the current year.

About Comstock Resources

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.