Comstock Resources (NYSE:CRK) Upgraded at Wolfe Research

Comstock Resources (NYSE:CRK - Get Free Report) was upgraded by analysts at Wolfe Research from a "peer perform" rating to an "outperform" rating in a research note issued to investors on Tuesday,Finviz reports. The brokerage currently has a $34.00 target price on the oil and gas producer's stock. Wolfe Research's price objective would indicate a potential upside of 28.43% from the stock's previous close.

Several other equities analysts have also recently weighed in on the stock. Citigroup reaffirmed a "neutral" rating and issued a $27.00 price target (up previously from $22.00) on shares of Comstock Resources in a research report on Friday. Williams Trading set a $13.00 target price on Comstock Resources in a research note on Wednesday, March 5th. Piper Sandler reiterated an "underweight" rating and issued a $12.00 price objective (up from $6.00) on shares of Comstock Resources in a research note on Tuesday, May 13th. UBS Group assumed 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. Finally, Morgan Stanley restated a "cautious" rating and set a $22.00 price target (up previously from $21.00) on shares of Comstock Resources in a research report on Wednesday, March 26th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Comstock Resources has a consensus rating of "Hold" and an average price target of $19.73.

Comstock Resources Stock Performance

NYSE:CRK opened at $26.47 on Tuesday. The company has a 50 day simple moving average of $21.92 and a two-hundred day simple moving average of $19.66. 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 has a fifty-two week low of $7.74 and a fifty-two week high of $26.83. The company has a market capitalization of $7.75 billion, a PE ratio of -34.83, a P/E/G ratio of 1.65 and a beta of 0.32.

Comstock Resources (NYSE:CRK - Get Free Report) last issued its earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.02. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The business had revenue of $512.85 million during the quarter, compared to the consensus estimate of $408.99 million. During the same period in the previous year, the company posted ($0.03) earnings per share. The firm's revenue for the quarter was up 52.7% on a year-over-year basis. Research analysts anticipate that Comstock Resources will post 0.54 earnings per share for the current year.

Hedge Funds Weigh In On Comstock Resources

Several institutional investors and hedge funds have recently modified their holdings of the stock. Intech Investment Management LLC lifted its position in shares of Comstock Resources by 26.0% during the 1st quarter. Intech Investment Management LLC now owns 65,289 shares of the oil and gas producer's stock valued at $1,328,000 after buying an additional 13,485 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in Comstock Resources during the first quarter worth about $271,000. Woodline Partners LP acquired a new position in Comstock Resources in the first quarter valued at approximately $8,719,000. Goldman Sachs Group Inc. boosted its stake 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 buying an additional 437,476 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Comstock Resources by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,236 shares of the oil and gas producer's stock worth $1,124,000 after purchasing an additional 2,697 shares in the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.