Comstock Resources (NYSE:CRK) Price Target Raised to $27.00

Comstock Resources (NYSE:CRK - Get Free Report) had its price objective lifted by research analysts at Bank of America from $25.00 to $27.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the oil and gas producer's stock. Bank of America's target price points to a potential upside of 13.42% from the company's current price.

Other equities research analysts have also issued research reports about the stock. Williams Trading set a $13.00 target price on shares of Comstock Resources in a research note on Wednesday, March 5th. UBS Group started coverage on Comstock Resources in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $19.00 price objective for the company. Piper Sandler reissued an "underweight" rating and set a $12.00 price objective (up previously from $6.00) on shares of Comstock Resources in a research report on Tuesday, May 13th. Morgan Stanley reiterated a "cautious" rating and set a $22.00 price target (up from $21.00) on shares of Comstock Resources in a report on Wednesday, March 26th. Finally, Mizuho lifted their price target on Comstock Resources from $22.00 to $24.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Comstock Resources presently has a consensus rating of "Hold" and an average price target of $16.50.

Comstock Resources Stock Down 2.0%

NYSE CRK traded down $0.48 during trading on Friday, reaching $23.81. 1,426,978 shares of the company's stock were exchanged, compared to its average volume of 2,575,854. Comstock Resources has a fifty-two week low of $7.74 and a fifty-two week high of $24.70. The firm has a market capitalization of $6.97 billion, a PE ratio of -31.32, a P/E/G ratio of 1.65 and a beta of 0.14. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27. The company's fifty day simple moving average is $20.57 and its 200-day simple moving average is $18.68.

Comstock Resources (NYSE:CRK - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The business had revenue of $512.85 million during the quarter, compared to analysts' expectations of $408.99 million. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. The firm's quarterly revenue was up 52.7% compared to the same quarter last year. During the same period last year, the company posted ($0.03) earnings per share. Sell-side analysts predict that Comstock Resources will post 0.54 EPS for the current year.

Institutional Investors Weigh In On Comstock Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. VSM Wealth Advisory LLC acquired a new stake in shares of Comstock Resources in the fourth quarter worth $27,000. Nisa Investment Advisors LLC lifted its stake in shares of Comstock Resources by 129.3% in the first quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer's stock worth $42,000 after buying an additional 1,170 shares during the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Comstock Resources in the first quarter worth $52,000. Sterling Capital Management LLC lifted its position 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 worth $54,000 after acquiring an additional 2,631 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Comstock Resources by 225.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer's stock worth $64,000 after acquiring an additional 2,326 shares during the last quarter. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Comstock Resources Company Profile

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.