Comstock Resources (NYSE:CRK) Stock Price Expected to Rise, Citigroup Analyst Says

Comstock Resources (NYSE:CRK - Get Free Report) had its target price lifted by analysts at Citigroup from $22.00 to $27.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the oil and gas producer's stock. Citigroup's price objective would indicate a potential upside of 6.71% from the stock's current price.

Several other equities research analysts have also issued reports on CRK. Bank of America raised their target price on Comstock Resources from $25.00 to $27.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Piper Sandler restated an "underweight" rating and issued a $12.00 target price (up previously from $6.00) on shares of Comstock Resources in a research note on Tuesday, May 13th. Morgan Stanley restated a "cautious" rating and issued a $22.00 target price (up previously from $21.00) on shares of Comstock Resources in a research note on Wednesday, March 26th. UBS Group initiated coverage on Comstock Resources in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $19.00 price target for the company. Finally, Williams Trading set a $13.00 price target on Comstock Resources in a research report on Wednesday, March 5th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Comstock Resources presently has a consensus rating of "Hold" and an average price target of $18.30.

Comstock Resources Stock Down 1.2%

Shares of CRK traded down $0.32 during trading hours on Friday, reaching $25.30. The stock had a trading volume of 2,511,658 shares, compared to its average volume of 2,539,380. Comstock Resources has a 12 month low of $7.74 and a 12 month high of $26.57. The firm has a 50-day simple moving average of $21.74 and a 200 day simple moving average of $19.52. 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 has a market capitalization of $7.41 billion, a price-to-earnings ratio of -33.29, a P/E/G ratio of 1.65 and a beta of 0.32.

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

Hedge Funds Weigh In On Comstock Resources

Several institutional investors and hedge funds have recently modified their holdings of the stock. Intech Investment Management LLC boosted its position in shares of Comstock Resources by 26.0% during the first quarter. Intech Investment Management LLC now owns 65,289 shares of the oil and gas producer's stock valued at $1,328,000 after buying an additional 13,485 shares during the last quarter. Bayforest Capital Ltd bought a new position in shares of Comstock Resources in the first quarter worth about $271,000. Woodline Partners LP bought a new position in shares of Comstock Resources in the first quarter worth about $8,719,000. Goldman Sachs Group Inc. raised its stake in shares of Comstock Resources by 67.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,086,868 shares of the oil and gas producer's stock worth $22,107,000 after buying an additional 437,476 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Comstock Resources by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,236 shares of the oil and gas producer's stock valued at $1,124,000 after purchasing an additional 2,697 shares during the period. 36.13% of the stock is currently owned by institutional investors.

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.