Analysts Set Comstock Resources, Inc. (NYSE:CRK) Price Target at $10.89

Shares of Comstock Resources, Inc. (NYSE:CRK) have been given a consensus rating of “Reduce” by the thirteen analysts that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $11.78.

Several research firms have recently issued reports on CRK. Citigroup upped their target price on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Truist Financial upped their price objective on shares of Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Bank of America assumed coverage on shares of Comstock Resources in a research report on Monday, October 28th. They set a “buy” rating and a $14.00 target price on the stock. BMO Capital Markets upped their target price on Comstock Resources from $10.00 to $11.00 and gave the company a “market perform” rating in a report on Friday, October 4th. Finally, Siebert Williams Shank cut Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective on the stock. in a research report on Tuesday, October 15th.

Institutional Investors Weigh In On Comstock Resources

Several large investors have recently added to or reduced their stakes in CRK. Sanctuary Advisors LLC bought a new position in Comstock Resources during the third quarter worth about $169,000. Barclays PLC lifted its stake in shares of Comstock Resources by 256.3% during the 3rd quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer’s stock valued at $1,731,000 after buying an additional 111,934 shares in the last quarter. Sunbelt Securities Inc. boosted its holdings in Comstock Resources by 140.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock worth $27,000 after buying an additional 1,400 shares during the period. XTX Topco Ltd boosted its holdings in Comstock Resources by 74.1% in the 3rd quarter. XTX Topco Ltd now owns 50,127 shares of the oil and gas producer’s stock worth $558,000 after buying an additional 21,336 shares during the period. Finally, Weiss Asset Management LP purchased a new position in Comstock Resources in the 3rd quarter valued at approximately $1,263,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Comstock Resources Price Performance

Shares of NYSE CRK opened at $15.82 on Monday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.60 and a current ratio of 0.60. The firm’s 50-day simple moving average is $13.83 and its 200 day simple moving average is $11.74. The stock has a market cap of $4.62 billion, a price-to-earnings ratio of -87.88 and a beta of 0.57. Comstock Resources has a fifty-two week low of $7.07 and a fifty-two week high of $17.79.

Comstock Resources (NYSE:CRK) last announced its earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The company had revenue of $304.50 million for the quarter, compared to analysts’ expectations of $308.75 million. Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. The firm’s quarterly revenue was down 19.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.04 EPS. As a group, research analysts anticipate that Comstock Resources will post -0.44 earnings per share for the current fiscal year.

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.