Comstock Resources (NYSE:CRK) Shares Gap Up - Should You Buy?

Comstock Resources, Inc. (NYSE:CRK - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $26.46, but opened at $27.19. Comstock Resources shares last traded at $27.68, with a volume of 135,272 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Mizuho lifted their price objective on shares of Comstock Resources from $22.00 to $24.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Wall Street Zen upgraded shares of Comstock Resources to a "sell" rating in a report on Thursday, May 8th. UBS Group initiated coverage on Comstock Resources in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $19.00 price target on the stock. Williams Trading set a $13.00 price objective on shares of Comstock Resources in a research report on Wednesday, March 5th. Finally, Morgan Stanley reaffirmed a "cautious" rating and set a $22.00 target price (up from $21.00) on shares of Comstock Resources in a research report on Wednesday, March 26th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Comstock Resources currently has an average rating of "Hold" and a consensus price target of $19.73.

Comstock Resources Price Performance

The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $8.13 billion, a P/E ratio of -36.59, a P/E/G ratio of 1.65 and a beta of 0.32. The company has a 50 day moving average of $21.92 and a 200-day moving average of $19.66.

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, beating analysts' consensus estimates 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 business's revenue for the quarter was up 52.7% on a year-over-year basis. During the same period last year, the firm posted ($0.03) earnings per share. On average, sell-side analysts predict that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Hedge Funds Weigh In On Comstock Resources

A number of large investors have recently bought and sold shares of CRK. VSM Wealth Advisory LLC purchased a new position in shares of Comstock Resources during the fourth quarter valued at approximately $27,000. Nisa Investment Advisors LLC grew its holdings in Comstock Resources by 129.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer's stock worth $42,000 after acquiring an additional 1,170 shares in the last quarter. Emerald Mutual Fund Advisers Trust bought a new position in shares of Comstock Resources during the first quarter valued at approximately $52,000. Sterling Capital Management LLC boosted its position in Comstock Resources by 804.6% during 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 purchasing an additional 2,631 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake 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 valued at $64,000 after purchasing an additional 2,326 shares during the last quarter. 36.13% of the stock is owned by hedge funds and other institutional investors.

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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