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

Comstock Resources, Inc. (NYSE:CRK - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $24.70 and last traded at $24.53, with a volume of 261409 shares changing hands. The stock had previously closed at $23.76.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CRK shares. Williams Trading set a $13.00 price objective on Comstock Resources in a research report on Wednesday, March 5th. UBS Group started coverage on Comstock Resources in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $19.00 price objective on the stock. Mizuho lifted their price objective on Comstock Resources from $22.00 to $24.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Bank of America raised their target price on shares of Comstock Resources from $25.00 to $27.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Finally, Morgan Stanley reaffirmed a "cautious" rating and issued a $22.00 target price (up from $21.00) on shares of Comstock Resources in a research 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.com, the stock currently has a consensus rating of "Hold" and an average target price of $17.15.

Comstock Resources Stock Performance

The company has a market capitalization of $6.97 billion, a PE ratio of -31.37, a PEG ratio of 1.65 and a beta of 0.14. The business's 50-day moving average is $20.65 and its 200-day moving average is $18.72. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.60 and a current ratio of 0.46.

Comstock Resources (NYSE:CRK - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. The business had revenue of $512.85 million during the quarter, compared to analysts' expectations 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 quarterly revenue was up 52.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.03) earnings per share. On average, research analysts anticipate that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. VSM Wealth Advisory LLC purchased a new position in Comstock Resources in the fourth quarter worth about $27,000. Nisa Investment Advisors LLC raised its holdings 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 buying an additional 1,170 shares during the last quarter. Emerald Mutual Fund Advisers Trust purchased a new position in Comstock Resources in the first quarter worth about $52,000. Sterling Capital Management LLC raised 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 worth $54,000 after buying an additional 2,631 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in 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 worth $64,000 after buying an additional 2,326 shares during the last quarter. Hedge funds and other 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.