Comstock Resources (NYSE:CRK) Given New $19.00 Price Target at Truist Financial

Comstock Resources (NYSE:CRK) had its price target increased by Truist Financial from $11.00 to $19.00 in a research report sent to investors on Monday,Benzinga reports. Truist Financial currently has a hold rating on the oil and gas producer’s stock.

CRK has been the subject of a number of other research reports. Citigroup boosted their price objective on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, December 6th. Siebert Williams Shank cut Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 target price for the company. in a report on Tuesday, October 15th. Mizuho raised Comstock Resources from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $10.00 to $18.00 in a research report on Monday, December 16th. BMO Capital Markets boosted their price target 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. 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 price target for the company. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $13.30.

Comstock Resources Stock Performance

NYSE:CRK opened at $19.94 on Monday. 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 has a 1 year low of $7.07 and a 1 year high of $20.57. The stock’s 50 day simple moving average is $15.77 and its two-hundred day simple moving average is $12.46. The company has a market cap of $5.83 billion, a price-to-earnings ratio of -110.77 and a beta of 0.51.

Comstock Resources (NYSE:CRK) last released its earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share 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 the consensus estimate of $308.75 million. Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. The business’s revenue for the quarter was down 19.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.04 EPS. As a group, equities analysts anticipate that Comstock Resources will post -0.44 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Elizabeth B. Davis sold 10,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $16.33, for a total value of $163,300.00. Following the sale, the director now owns 123,781 shares in the company, valued at $2,021,343.73. This represents a 7.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 38,000 shares of company stock valued at $634,660. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Comstock Resources

Hedge funds have recently bought and sold shares of the business. Royce & Associates LP boosted its position in Comstock Resources by 79.2% during the third quarter. Royce & Associates LP now owns 689,780 shares of the oil and gas producer’s stock worth $7,677,000 after purchasing an additional 304,780 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position 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 acquiring an additional 57,376 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Comstock Resources in the third quarter valued at approximately $419,000. Barclays PLC increased its holdings in shares of Comstock Resources by 256.3% in the third quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer’s stock valued at $1,731,000 after purchasing an additional 111,934 shares during the last quarter. Finally, Goehring & Rozencwajg Associates LLC increased its holdings in shares of Comstock Resources by 27.8% in the second quarter. Goehring & Rozencwajg Associates LLC now owns 683,570 shares of the oil and gas producer’s stock valued at $7,095,000 after purchasing an additional 148,700 shares during the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.

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.