Brokerages Set Comstock Resources, Inc. (NYSE:CRK) PT at $10.31

Comstock Resources, Inc. (NYSE:CRK - Get Free Report) has received an average rating of "Reduce" from the thirteen brokerages that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $10.31.

Several equities research analysts recently issued reports on the stock. Siebert Williams Shank cut shares of Comstock Resources from a "hold" rating to a "sell" rating and set a $9.00 price objective for the company. in a research report on Tuesday, October 15th. BMO Capital Markets increased their price objective 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. Piper Sandler downgraded Comstock Resources from a "neutral" rating to an "underweight" rating and reduced their target price for the company from $8.00 to $5.00 in a research report on Thursday, August 15th. Mizuho lowered their price target on Comstock Resources from $11.00 to $10.00 and set an "underperform" rating for the company in a report on Monday, September 16th. Finally, Bank of America began coverage on Comstock Resources in a research report on Monday, October 28th. They set a "buy" rating and a $14.00 price objective for the company.

Comstock Resources Stock Up 6.8 %

CRK opened at $15.00 on Thursday. The company has a fifty day moving average of $11.85 and a two-hundred day moving average of $11.02. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of -83.31 and a beta of 0.47. Comstock Resources has a fifty-two week low of $7.07 and a fifty-two week high of $15.07. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.60 and a current ratio of 0.60.

Comstock Resources (NYSE:CRK - Get Free Report) last announced its quarterly 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). Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. The business had revenue of $304.50 million during the quarter, compared to analysts' expectations of $308.75 million. During the same quarter in the prior year, the firm earned $0.04 EPS. Comstock Resources's revenue for the quarter was down 19.2% on a year-over-year basis. On average, research analysts expect that Comstock Resources will post -0.44 earnings per share for the current year.

Insider Activity at Comstock Resources

In related news, major shareholder Drilling L.P. Arkoma acquired 592,246 shares of Comstock Resources stock in a transaction dated Monday, August 26th. The shares were acquired at an average cost of $11.54 per share, for a total transaction of $6,834,518.84. Following the completion of the purchase, the insider now owns 208,219,992 shares in the company, valued at approximately $2,402,858,707.68. The trade was a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On Comstock Resources

Several large investors have recently bought and sold shares of CRK. ProShare Advisors LLC increased its stake in shares of Comstock Resources by 7.4% during the first quarter. ProShare Advisors LLC now owns 18,536 shares of the oil and gas producer's stock worth $172,000 after buying an additional 1,276 shares during the period. UniSuper Management Pty Ltd acquired a new stake in shares of Comstock Resources in the 1st quarter valued at $403,000. Carlson Capital L P acquired a new stake in shares of Comstock Resources in the 1st quarter valued at $186,000. Price T Rowe Associates Inc. MD lifted its position in shares of Comstock Resources by 7.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 58,821 shares of the oil and gas producer's stock worth $546,000 after purchasing an additional 4,053 shares during the last quarter. Finally, Keynote Financial Services LLC acquired a new position in shares of Comstock Resources during the first quarter worth $930,000. Hedge funds and other institutional investors 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.