Comstock Resources (NYSE:CRK) Reaches New 1-Year High - Still a Buy?

Comstock Resources, Inc. (NYSE:CRK - Get Free Report) reached a new 52-week high on Friday . The company traded as high as $25.05 and last traded at $24.42, with a volume of 438824 shares. The stock had previously closed at $24.23.

Analyst Upgrades and Downgrades

CRK has been the subject of a number of analyst reports. UBS Group initiated coverage on Comstock Resources in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $19.00 price target for the company. Bank of America boosted their target price on shares of Comstock Resources from $25.00 to $27.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Mizuho boosted their price objective on shares of Comstock Resources from $22.00 to $24.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Williams Trading set a $13.00 price objective on shares of Comstock Resources in a research report on Wednesday, March 5th. Finally, Morgan Stanley reiterated a "cautious" rating and issued a $22.00 price target (up from $21.00) on shares of Comstock Resources in a report on Wednesday, March 26th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $17.15.

Comstock Resources Trading Up 0.8%

The firm has a market capitalization of $7.16 billion, a price-to-earnings ratio of -32.14, a P/E/G ratio of 1.65 and a beta of 0.32. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.60 and a current ratio of 0.46. The business has a fifty day moving average price of $21.17 and a 200 day moving average price of $19.20.

Comstock Resources (NYSE:CRK - Get Free Report) last announced 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 company 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%. The firm's revenue was up 52.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.03) earnings per share. As a group, equities analysts forecast that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

Institutional Investors Weigh In On Comstock Resources

Several large investors have recently made changes to their positions in the business. VSM Wealth Advisory LLC acquired a new stake in Comstock Resources in the 4th quarter valued at $27,000. Nisa Investment Advisors LLC grew 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 valued at $42,000 after buying an additional 1,170 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Comstock Resources in the first quarter valued at about $52,000. Sterling Capital Management LLC grew its stake in shares of Comstock Resources by 804.6% in the fourth quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer's stock valued at $54,000 after buying an additional 2,631 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Comstock Resources by 225.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer's stock valued at $64,000 after buying an additional 2,326 shares in the last quarter. 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.