Comstock Resources (NYSE:CRK) Upgraded by Mizuho to “Neutral” Rating

Mizuho upgraded shares of Comstock Resources (NYSE:CRK) from an underperform rating to a neutral rating in a research report report published on Monday morning, MarketBeat.com reports. They currently have $18.00 price objective on the oil and gas producer’s stock, up from their previous price objective of $10.00.

A number of other equities research analysts have also weighed in on CRK. Bank of America began coverage on shares of Comstock Resources in a report on Monday, October 28th. They set a “buy” rating and a $14.00 price target for the company. BMO Capital Markets lifted their target price on Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. Truist Financial boosted their price target on Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Siebert Williams Shank lowered Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective for the company. in a research note on Tuesday, October 15th. Finally, Citigroup upped their target price on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research report on Friday, December 6th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Comstock Resources currently has an average rating of “Hold” and an average target price of $11.78.

Comstock Resources Trading Down 4.1 %

NYSE:CRK opened at $16.12 on Monday. The business’s 50-day moving average is $13.54 and its two-hundred day moving average is $11.62. The firm has a market capitalization of $4.71 billion, a PE ratio of -89.53 and a beta of 0.57. Comstock Resources has a 12 month low of $7.07 and a 12 month high of $17.79. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.60 and a quick ratio of 0.60.

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

Institutional Investors Weigh In On Comstock Resources

Several institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. bought a new position in shares of Comstock Resources during the second quarter valued at approximately $32,000. Louisiana State Employees Retirement System increased its position in Comstock Resources by 6.6% in the second quarter. Louisiana State Employees Retirement System now owns 48,500 shares of the oil and gas producer’s stock worth $503,000 after buying an additional 3,000 shares during the period. Keynote Financial Services LLC lifted its stake in Comstock Resources by 2.0% in the second quarter. Keynote Financial Services LLC now owns 102,193 shares of the oil and gas producer’s stock valued at $1,061,000 after buying an additional 1,975 shares during the last quarter. Pullen Investment Management LLC boosted its holdings in shares of Comstock Resources by 3.9% during the second quarter. Pullen Investment Management LLC now owns 51,733 shares of the oil and gas producer’s stock valued at $537,000 after acquiring an additional 1,942 shares during the period. Finally, Natixis Advisors LLC grew its position in shares of Comstock Resources by 37.2% during the second quarter. Natixis Advisors LLC now owns 35,106 shares of the oil and gas producer’s stock worth $364,000 after acquiring an additional 9,520 shares during 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.