Comstock Resources (NYSE:CRK) Shares Up 5% - Time to Buy?

Comstock Resources, Inc. (NYSE:CRK - Get Free Report) shot up 5% during trading on Monday . The stock traded as high as $21.15 and last traded at $21.28. 566,378 shares were traded during trading, a decline of 78% from the average session volume of 2,633,465 shares. The stock had previously closed at $20.27.

Analysts Set New Price Targets

CRK has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Comstock Resources to a "sell" rating in a research note on Thursday. Piper Sandler raised their target price on shares of Comstock Resources from $5.00 to $6.00 and gave the company an "underweight" rating in a research report on Wednesday, January 29th. Williams Trading set a $13.00 price target on shares of Comstock Resources in a report on Wednesday, March 5th. UBS Group began coverage on Comstock Resources in a report on Tuesday, April 22nd. They set a "neutral" rating and a $19.00 price objective on the stock. Finally, Truist Financial upped their target price on Comstock Resources from $11.00 to $19.00 and gave the stock a "hold" rating in a report on Monday, January 13th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $14.23.

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 business's 50-day simple moving average is $19.33 and its two-hundred day simple moving average is $17.71. The firm has a market cap of $6.83 billion, a price-to-earnings ratio of -30.70, a P/E/G ratio of 1.65 and a beta of 0.14.

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 analysts' consensus estimates of $0.16 by $0.02. The firm had revenue of $512.85 million for 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 company's revenue for the quarter was up 52.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.03) EPS. As a group, research analysts expect that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Comstock Resources

Large investors have recently made changes to their positions in the stock. VSM Wealth Advisory LLC bought a new stake in Comstock Resources during the fourth quarter valued at approximately $27,000. Nisa Investment Advisors LLC lifted its position in shares of Comstock Resources by 129.3% in the 1st 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 during the period. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Comstock Resources during the 1st quarter worth approximately $52,000. Sterling Capital Management LLC boosted its position in shares of 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 position in shares of Comstock Resources by 225.2% in the 4th 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 period. 36.13% of the stock is owned by institutional investors.

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.