Comstock Resources, Inc. (NYSE:CRK) Receives Average Rating of “Hold” from Analysts

Shares of Comstock Resources, Inc. (NYSE:CRK) have earned an average rating of “Hold” from the nine analysts that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $10.25.

A number of brokerages have weighed in on CRK. Stifel Nicolaus cut their price target on shares of Comstock Resources from $14.00 to $13.50 and set a “buy” rating for the company in a report on Tuesday, April 23rd. Mizuho upped their price objective on shares of Comstock Resources from $10.00 to $11.00 and gave the company an “underperform” rating in a research note on Monday, May 13th. Capital One Financial lowered shares of Comstock Resources from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, May 15th. Piper Sandler reduced their price objective on shares of Comstock Resources from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Thursday, March 7th. Finally, StockNews.com raised shares of Comstock Resources to a “sell” rating in a research note on Monday, April 29th.

Hedge Funds Weigh In On Comstock Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in shares of Comstock Resources by 428.9% in the first quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer’s stock valued at $44,000 after acquiring an additional 3,869 shares during the period. Hexagon Capital Partners LLC boosted its position in shares of Comstock Resources by 2,161.0% in the first quarter. Hexagon Capital Partners LLC now owns 4,929 shares of the oil and gas producer’s stock valued at $46,000 after acquiring an additional 4,711 shares during the period. Federated Hermes Inc. boosted its position in shares of Comstock Resources by 80.0% in the third quarter. Federated Hermes Inc. now owns 5,500 shares of the oil and gas producer’s stock valued at $61,000 after acquiring an additional 2,445 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Comstock Resources by 144.7% in the third quarter. PNC Financial Services Group Inc. now owns 6,645 shares of the oil and gas producer’s stock valued at $73,000 after acquiring an additional 3,929 shares during the period. Finally, Neo Ivy Capital Management bought a new stake in shares of Comstock Resources in the third quarter valued at approximately $80,000. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Stock Up 0.4 %

Comstock Resources stock opened at $10.79 on Monday. The company has a 50-day simple moving average of $10.68 and a 200-day simple moving average of $9.26. The firm has a market capitalization of $3.15 billion, a P/E ratio of 49.05 and a beta of 0.60. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.64 and a current ratio of 0.64. Comstock Resources has a one year low of $7.07 and a one year high of $13.39.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.05. The business had revenue of $335.77 million during the quarter, compared to the consensus estimate of $343.97 million. Comstock Resources had a net margin of 4.27% and a return on equity of 1.25%. The company’s quarterly revenue was down 31.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.33 earnings per share. As a group, equities analysts expect that Comstock Resources will post -0.09 earnings per share for the current year.

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.