Comstock Resources, Inc. (NYSE:CRK) Receives Average Recommendation of "Reduce" from Analysts

Key Points

• Comstock Resources, Inc. has received an average recommendation of "Reduce" from analysts, with four sell ratings, five hold ratings, and two buy ratings assigned based on recent reports.
• The average one-year price target set by analysts for Comstock Resources is $18.25, though estimates vary with recent targets ranging from $10.00 to $34.00.
• In the latest earnings report, Comstock Resources reported $0.13 EPS for the quarter, exceeding analyst expectations by $0.04, and achieved a year-over-year revenue increase of 90.5%.

Shares of Comstock Resources, Inc. (NYSE:CRK - Get Free Report) have been assigned an average recommendation of "Reduce" from the eleven analysts that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $18.25.

CRK has been the topic of several recent research reports. UBS Group decreased their price target on Comstock Resources from $18.00 to $14.00 and set a "sell" rating on the stock in a report on Wednesday. Mizuho lifted their target price on Comstock Resources from $22.00 to $24.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Piper Sandler lowered their price target on Comstock Resources from $12.00 to $10.00 and set an "underweight" rating on the stock in a research report on Monday, August 4th. Roth Capital lowered Comstock Resources from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $18.00 to $12.00 in a report on Monday. Finally, Wolfe Research upgraded Comstock Resources from a "peer perform" rating to an "outperform" rating and set a $34.00 price target for the company in a research note on Tuesday, June 17th.

Comstock Resources Stock Performance

Comstock Resources stock opened at $15.3030 on Friday. The stock has a fifty day moving average price of $21.73 and a two-hundred day moving average price of $20.85. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market capitalization of $4.48 billion, a P/E ratio of -63.76 and a beta of 0.28. Comstock Resources has a 52-week low of $9.09 and a 52-week high of $31.17.

Comstock Resources (NYSE:CRK - Get Free Report) last announced its earnings results on Wednesday, July 30th. The oil and gas producer reported $0.13 EPS for the quarter, topping the consensus estimate of $0.09 by $0.04. The company had revenue of $470.26 million for the quarter, compared to analysts' expectations of $431.82 million. Comstock Resources had a positive return on equity of 3.65% and a negative net margin of 5.05%.The business's revenue for the quarter was up 90.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.20) earnings per share. As a group, analysts anticipate that Comstock Resources will post 0.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Comstock Resources

A number of institutional investors have recently modified their holdings of CRK. Mariner LLC increased its holdings in Comstock Resources by 36.4% in the 4th quarter. Mariner LLC now owns 68,156 shares of the oil and gas producer's stock worth $1,242,000 after purchasing an additional 18,187 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of Comstock Resources by 5.2% during the 4th quarter. MetLife Investment Management LLC now owns 56,177 shares of the oil and gas producer's stock valued at $1,024,000 after purchasing an additional 2,761 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in shares of Comstock Resources during the 4th quarter valued at about $194,000. Price T Rowe Associates Inc. MD boosted its holdings in Comstock Resources by 11.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 66,060 shares of the oil and gas producer's stock worth $1,204,000 after acquiring an additional 6,741 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in Comstock Resources in the fourth quarter worth approximately $6,349,000. Institutional investors and hedge funds own 36.13% of the company's stock.

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.

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