Comstock Resources, Inc. (NYSE:CRK) Given Consensus Recommendation of "Reduce" by Brokerages

Shares of Comstock Resources, Inc. (NYSE:CRK - Get Free Report) have received an average rating of "Reduce" from the eleven brokerages that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $17.15.

CRK has been the topic of several recent analyst reports. Williams Trading set a $13.00 target price on shares of Comstock Resources in a report on Wednesday, March 5th. Morgan Stanley reissued a "cautious" rating and issued a $22.00 target price (up from $21.00) on shares of Comstock Resources in a report on Wednesday, March 26th. Piper Sandler reissued an "underweight" rating and issued a $12.00 target price (up from $6.00) on shares of Comstock Resources in a report on Tuesday, May 13th. UBS Group initiated coverage on shares of Comstock Resources in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $19.00 target price on the stock. Finally, Mizuho raised their target price on shares of Comstock Resources from $22.00 to $24.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th.

Institutional Investors Weigh In On Comstock Resources

Hedge funds and other institutional investors have recently made changes to their positions in the stock. VSM Wealth Advisory LLC acquired a new stake in Comstock Resources during the 4th quarter worth approximately $27,000. Nisa Investment Advisors LLC boosted its position in Comstock Resources by 129.3% during the 1st 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 period. Emerald Mutual Fund Advisers Trust acquired a new stake in Comstock Resources during the 1st quarter worth approximately $52,000. Sterling Capital Management LLC boosted 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 buying an additional 2,631 shares during the period. Finally, Smartleaf Asset Management LLC boosted 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 buying an additional 2,326 shares during the period. 36.13% of the stock is owned by institutional investors.

Comstock Resources Price Performance

Shares of Comstock Resources stock opened at $24.43 on Monday. Comstock Resources has a twelve month low of $7.74 and a twelve month high of $25.05. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27. The company has a 50-day simple moving average of $21.17 and a two-hundred day simple moving average of $19.26. The stock has a market capitalization of $7.16 billion, a price-to-earnings ratio of -32.14, a price-to-earnings-growth ratio of 1.65 and a beta of 0.32.

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

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