Comstock Resources (NYSE:CRK) Stock Price Up 3% – Should You Buy?

Shares of Comstock Resources, Inc. (NYSE:CRK) were up 3% during mid-day trading on Monday . The stock traded as high as $20.18 and last traded at $20.43. Approximately 83,914 shares were traded during trading, a decline of 97% from the average daily volume of 2,720,613 shares. The stock had previously closed at $19.84.

Analyst Ratings Changes

Several equities analysts recently weighed in on CRK shares. Morgan Stanley reiterated a “cautious” rating and set a $22.00 target price (up from $21.00) on shares of Comstock Resources in a research report on Wednesday, March 26th. Mizuho raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $10.00 to $18.00 in a research report on Monday, December 16th. Citigroup upped their price target on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Williams Trading set a $13.00 price objective on Comstock Resources in a report on Wednesday, March 5th. Finally, StockNews.com raised Comstock Resources to a “sell” rating in a research report on Thursday, March 20th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $13.73.

Comstock Resources Stock Performance

The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of -26.74, a price-to-earnings-growth ratio of 1.65 and a beta of 0.55. The company’s fifty day simple moving average is $18.99 and its two-hundred day simple moving average is $16.01. 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 data on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.14. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. The firm had revenue of $366.51 million during the quarter, compared to the consensus estimate of $370.62 million. Equities research analysts predict that Comstock Resources, Inc. 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 bought and sold shares of the stock. VSM Wealth Advisory LLC acquired a new position in Comstock Resources during the 4th quarter valued at approximately $27,000. Sunbelt Securities Inc. lifted its position in Comstock Resources by 140.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock valued at $27,000 after purchasing an additional 1,400 shares during the last quarter. Sterling Capital Management LLC boosted its stake in Comstock Resources by 804.6% during the 4th quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer’s stock valued at $54,000 after purchasing an additional 2,631 shares during the period. Smartleaf Asset Management LLC grew its position in Comstock Resources by 225.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock worth $64,000 after purchasing an additional 2,326 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Comstock Resources in the fourth quarter valued at approximately $70,000. 36.13% of the stock is currently owned by institutional investors and hedge funds.

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.