Comstock Resources (NYSE:CRK) Hits New 1-Year High After Analyst Upgrade

Shares of Comstock Resources, Inc. (NYSE:CRK - Get Free Report) hit a new 52-week high on Tuesday after Mizuho raised their price target on the stock from $22.00 to $24.00. Mizuho currently has a neutral rating on the stock. Comstock Resources traded as high as $23.88 and last traded at $22.85, with a volume of 2549488 shares. The stock had previously closed at $23.34.

CRK has been the subject of a number of other research reports. UBS Group initiated coverage on Comstock Resources in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $19.00 price objective for the company. StockNews.com raised Comstock Resources to a "sell" rating in a report on Thursday, May 8th. Truist Financial raised their price target on Comstock Resources from $11.00 to $19.00 and gave the company a "hold" rating in a report on Monday, January 13th. Williams Trading set a $13.00 price target on Comstock Resources in a report on Wednesday, March 5th. Finally, Piper Sandler raised their price target on Comstock Resources from $5.00 to $6.00 and gave the company an "underweight" rating in a report on Wednesday, January 29th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Comstock Resources currently has a consensus rating of "Hold" and an average price target of $15.32.

Institutional Investors Weigh In On Comstock Resources

A number of institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in shares of Comstock Resources by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 13,297,863 shares of the oil and gas producer's stock worth $242,301,000 after purchasing an additional 227,638 shares during the period. Vanguard Group Inc. grew its stake in shares of Comstock Resources by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 9,222,982 shares of the oil and gas producer's stock worth $168,043,000 after purchasing an additional 126,380 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Comstock Resources by 6.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,505,808 shares of the oil and gas producer's stock worth $27,436,000 after acquiring an additional 91,988 shares in the last quarter. Invesco Ltd. lifted its holdings in Comstock Resources by 79.9% during the first quarter. Invesco Ltd. now owns 1,155,680 shares of the oil and gas producer's stock worth $23,507,000 after acquiring an additional 513,190 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Comstock Resources by 67.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,086,868 shares of the oil and gas producer's stock worth $22,107,000 after acquiring an additional 437,476 shares in the last quarter. 36.13% of the stock is owned by institutional investors and hedge funds.

Comstock Resources Trading Down 0.6%

The company has a fifty day simple moving average of $19.91 and a two-hundred day simple moving average of $18.17. 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 stock has a market capitalization of $7.11 billion, a P/E ratio of -31.92, a price-to-earnings-growth ratio of 1.65 and a beta of 0.14.

Comstock Resources (NYSE:CRK - Get Free Report) last posted its earnings results 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. The firm had revenue of $512.85 million for 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 company's revenue for the quarter was up 52.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) earnings per share. On average, sell-side analysts expect that Comstock Resources, Inc. will post 0.54 earnings per share 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.