Comstock Resources, Inc. (NYSE:CRK) Receives $13.40 Consensus Price Target from Analysts

Comstock Resources, Inc. (NYSE:CRK) has been given a consensus recommendation of “Reduce” by the thirteen analysts that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $13.40.

A number of research firms recently weighed in on CRK. Mizuho raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating and raised their target price for the company from $10.00 to $18.00 in a research report on Monday, December 16th. Citigroup raised their price objective on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, December 6th. Truist Financial lifted their target price on Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Piper Sandler increased their price target on Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley started coverage on Comstock Resources in a research report on Friday, January 10th. They set an “equal weight” rating and a $18.00 price target on the stock.

Comstock Resources Stock Down 0.8 %

NYSE:CRK opened at $18.98 on Friday. The stock has a 50-day simple moving average of $19.03 and a 200 day simple moving average of $14.85. Comstock Resources has a 52-week low of $7.74 and a 52-week high of $22.06. The company has a market cap of $5.56 billion, a PE ratio of -24.97, a PEG ratio of 1.65 and a beta of 0.48. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.60 and a current ratio of 0.46.

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

Insider Activity at Comstock Resources

In other news, Director Elizabeth B. Davis sold 10,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $16.33, for a total value of $163,300.00. Following the completion of the sale, the director now owns 123,781 shares of the company’s stock, valued at approximately $2,021,343.73. The trade was a 7.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 38,000 shares of company stock worth $634,660 in the last ninety days. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Comstock Resources

A number of hedge funds have recently bought and sold shares of CRK. Raymond James Financial Inc. acquired a new position in shares of Comstock Resources during the 4th quarter worth approximately $11,891,000. Corigliano Investment Advisers LLC bought a new stake in shares of Comstock Resources in the fourth quarter valued at approximately $11,450,000. Susquehanna Fundamental Investments LLC acquired a new stake in Comstock Resources during the fourth quarter worth approximately $6,349,000. Marshall Wace LLP acquired a new stake in Comstock Resources during the fourth quarter worth approximately $6,329,000. Finally, Royce & Associates LP increased its stake in Comstock Resources by 79.2% during the 3rd quarter. Royce & Associates LP now owns 689,780 shares of the oil and gas producer’s stock worth $7,677,000 after acquiring an additional 304,780 shares during the period. 36.13% of the stock is owned by institutional investors.

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.