Comstock Resources (NYSE:CRK) Trading 3.6% Higher - What's Next?

Comstock Resources, Inc. (NYSE:CRK - Get Free Report) shares traded up 3.6% during mid-day trading on Thursday . The stock traded as high as $24.84 and last traded at $24.81. 444,966 shares were traded during mid-day trading, a decline of 82% from the average session volume of 2,531,988 shares. The stock had previously closed at $23.94.

Wall Street Analyst Weigh In

Several analysts have recently commented on CRK shares. Williams Trading set a $13.00 target price on Comstock Resources in a report on Wednesday, March 5th. Bank of America increased their price objective on shares of Comstock Resources from $25.00 to $27.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Morgan Stanley restated a "cautious" rating and issued a $22.00 price objective (up previously from $21.00) on shares of Comstock Resources in a research report on Wednesday, March 26th. Wall Street Zen upgraded shares of Comstock Resources to a "sell" rating in a research report on Thursday, May 8th. Finally, Piper Sandler reissued an "underweight" rating and issued a $12.00 price target (up previously from $6.00) on shares of Comstock Resources in a report on Tuesday, May 13th. 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 stock. According to MarketBeat, Comstock Resources currently has a consensus rating of "Hold" and a consensus target price of $18.30.

Comstock Resources Stock Down 1.7%

The business's fifty day simple moving average is $21.58 and its 200 day simple moving average is $19.46. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of -33.14, a price-to-earnings-growth ratio of 1.65 and a beta of 0.32. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27.

Comstock Resources (NYSE:CRK - Get Free Report) last posted its quarterly earnings results 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 business 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 firm's revenue was up 52.7% on a year-over-year basis. During the same period last year, the company earned ($0.03) EPS. Equities analysts forecast that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Comstock Resources

Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in 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 valued at $242,301,000 after purchasing an additional 227,638 shares during the period. Vanguard Group Inc. boosted its position 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of 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 purchasing an additional 91,988 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Comstock Resources by 79.9% in the 1st quarter. Invesco Ltd. now owns 1,155,680 shares of the oil and gas producer's stock valued at $23,507,000 after buying an additional 513,190 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Comstock Resources by 67.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,086,868 shares of the oil and gas producer's stock valued at $22,107,000 after buying an additional 437,476 shares in the last quarter. 36.13% of the stock is currently 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.