Comstock Resources (NYSE:CRK) Given New $22.00 Price Target at Mizuho

Key Points

• Mizuho has reduced its price target for Comstock Resources from $27.00 to $22.00, indicating a potential upside of 36.59% based on the company's current price.
• The stock has a consensus rating of "Reduce" among analysts, with two buy ratings and four sell ratings, reflecting mixed investor sentiment.
• Comstock Resources reported a significant revenue increase of 90.5% year-over-year, reflecting strong quarterly performance despite challenges with a negative net margin.

Comstock Resources (NYSE:CRK - Get Free Report) had its price objective dropped by investment analysts at Mizuho from $27.00 to $22.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the oil and gas producer's stock. Mizuho's price objective suggests a potential upside of 36.59% from the company's current price.

A number of other research analysts also recently issued reports on CRK. Wolfe Research upgraded shares of 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. UBS Group decreased their price target on shares of Comstock Resources from $18.00 to $14.00 and set a "sell" rating for the company in a research note on Wednesday, August 20th. Bank of America raised their price objective on shares of Comstock Resources from $25.00 to $27.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Piper Sandler cut their price objective on shares of Comstock Resources from $12.00 to $10.00 and set an "underweight" rating on the stock in a report on Monday, August 4th. Finally, Morgan Stanley cut their target price on shares of Comstock Resources from $21.00 to $19.00 and set an "equal weight" rating on the stock in a report on Monday, August 4th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Reduce" and an average target price of $18.08.

Comstock Resources Price Performance

Shares of NYSE CRK traded up $0.16 during mid-day trading on Monday, reaching $16.11. The company's stock had a trading volume of 542,738 shares, compared to its average volume of 2,401,123. Comstock Resources has a 1-year low of $9.73 and a 1-year high of $31.17. The stock has a market capitalization of $4.72 billion, a P/E ratio of -67.21 and a beta of 0.27. The stock has a 50-day moving average of $18.14 and a two-hundred day moving average of $20.59. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.36 and a current ratio of 0.36.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CRK. Legacy Investment Solutions LLC acquired a new position in shares of Comstock Resources in the 2nd quarter valued at $29,000. Atlantic Union Bankshares Corp bought a new position in shares of Comstock Resources in the 2nd quarter valued at approximately $34,000. Nisa Investment Advisors LLC raised its stake in shares of Comstock Resources by 129.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer's stock valued at $42,000 after acquiring an additional 1,170 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in Comstock Resources in the 1st quarter valued at approximately $52,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Comstock Resources in the 2nd quarter valued at approximately $69,000. Institutional investors 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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