Comstock Resources (NYSE:CRK) Stock Price Expected to Rise, Citigroup Analyst Says

Comstock Resources (NYSE:CRK) had its target price increased by Citigroup from $12.50 to $15.50 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas producer’s stock. Citigroup’s price objective points to a potential upside of 6.75% from the stock’s previous close.

A number of other brokerages have also commented on CRK. Piper Sandler lowered Comstock Resources from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $8.00 to $5.00 in a report on Thursday, August 15th. Mizuho lowered their target price on shares of Comstock Resources from $11.00 to $10.00 and set an “underperform” rating on the stock in a research note on Monday, September 16th. BMO Capital Markets upped their price target on shares of Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Siebert Williams Shank lowered shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective on the stock. in a research note on Tuesday, October 15th. Finally, Bank of America assumed coverage on Comstock Resources in a research report on Monday, October 28th. They issued a “buy” rating and a $14.00 target price for the company. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $10.89.

Comstock Resources Stock Down 1.4 %

NYSE:CRK opened at $14.52 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25. The stock has a 50 day moving average of $12.98 and a 200-day moving average of $11.40. The firm has a market capitalization of $4.24 billion, a PE ratio of -80.67 and a beta of 0.57. Comstock Resources has a 52 week low of $7.07 and a 52 week high of $15.84.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. KGH Ltd raised its holdings in shares of Comstock Resources by 8.7% during the second quarter. KGH Ltd now owns 12,125,000 shares of the oil and gas producer’s stock valued at $125,858,000 after acquiring an additional 975,000 shares during the period. Dimensional Fund Advisors LP raised its stake in Comstock Resources by 26.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,696,540 shares of the oil and gas producer’s stock valued at $121,414,000 after purchasing an additional 2,438,252 shares during the period. American Century Companies Inc. lifted its holdings in shares of Comstock Resources by 19.0% in the second quarter. American Century Companies Inc. now owns 2,270,435 shares of the oil and gas producer’s stock valued at $23,567,000 after purchasing an additional 362,043 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Comstock Resources by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,413,820 shares of the oil and gas producer’s stock valued at $15,736,000 after purchasing an additional 57,376 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Comstock Resources by 775.4% in the second quarter. Millennium Management LLC now owns 875,371 shares of the oil and gas producer’s stock worth $9,086,000 after buying an additional 775,371 shares during the period. 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.