Comstock Resources (NYSE:CRK) Hits New 1-Year High - What's Next?

Shares of Comstock Resources, Inc. (NYSE:CRK - Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as $30.90 and last traded at $30.77, with a volume of 4872421 shares. The stock had previously closed at $28.86.

Analyst Ratings Changes

CRK has been the subject of a number of recent analyst reports. Mizuho boosted 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. Piper Sandler reissued an "underweight" rating and set a $12.00 price objective (up from $6.00) on shares of Comstock Resources in a research note on Tuesday, May 13th. Wall Street Zen upgraded Comstock Resources to a "sell" rating in a report on Thursday, May 8th. Williams Trading set a $13.00 target price on Comstock Resources in a research report on Wednesday, March 5th. Finally, UBS Group started 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. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Comstock Resources has a consensus rating of "Hold" and an average target price of $19.73.

Comstock Resources Stock Performance

The company has a debt-to-equity ratio of 1.34, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a 50-day moving average price of $22.60 and a 200-day moving average price of $19.90. The firm has a market capitalization of $9.05 billion, a PE ratio of -27.80 and a beta of 0.32.

Comstock Resources (NYSE:CRK - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $512.85 million for the quarter, compared to the consensus estimate of $408.99 million. Comstock Resources had a negative return on equity of 0.67% and a negative net margin of 23.39%. Comstock Resources's revenue for the quarter was up 52.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.03) EPS. On average, research analysts expect that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.

Institutional Trading of Comstock Resources

Several institutional investors have recently added to or reduced their stakes in CRK. VSM Wealth Advisory LLC bought a new stake in shares of Comstock Resources in the 4th quarter worth about $27,000. Nisa Investment Advisors LLC grew its stake in 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 worth $42,000 after purchasing an additional 1,170 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new position in Comstock Resources in the first quarter worth about $52,000. Sterling Capital Management LLC increased its holdings in 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 during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in Comstock Resources by 225.2% during 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. 36.13% of the stock is owned by institutional investors and hedge funds.

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.