Comstock Resources, Inc. (NYSE:CRK) Receives Average Recommendation of "Reduce" from Brokerages

Shares of Comstock Resources, Inc. (NYSE:CRK - Get Free Report) have been assigned a consensus rating of "Reduce" from the thirteen research firms that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $14.23.

A number of brokerages have weighed in on CRK. Truist Financial boosted their price objective on Comstock Resources from $11.00 to $19.00 and gave the company a "hold" rating in a research note on Monday, January 13th. Morgan Stanley reiterated a "cautious" rating and issued a $22.00 price target (up previously from $21.00) on shares of Comstock Resources in a research report on Wednesday, March 26th. StockNews.com raised shares of Comstock Resources to a "sell" rating in a research report on Saturday, April 19th. Williams Trading set a $13.00 target price on shares of Comstock Resources in a report on Wednesday, March 5th. Finally, UBS Group initiated coverage on Comstock Resources in a report on Tuesday. They set a "neutral" rating and a $19.00 price target on the stock.

Comstock Resources Stock Up 2.1 %

NYSE:CRK traded up $0.38 during midday trading on Friday, hitting $18.86. 238,732 shares of the company were exchanged, compared to its average volume of 2,673,275. Comstock Resources has a fifty-two week low of $7.74 and a fifty-two week high of $22.06. The company has a market capitalization of $5.53 billion, a PE ratio of -24.81, a price-to-earnings-growth ratio of 1.65 and a beta of 0.42. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27. The company has a fifty day simple moving average of $19.00 and a 200 day simple moving average of $16.97.

Comstock Resources (NYSE:CRK - Get Free Report) last posted its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.14. The business had revenue of $366.51 million for the quarter, compared to analysts' expectations of $370.62 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. As a group, equities analysts anticipate that Comstock Resources will post 0.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Comstock Resources

A number of large investors have recently made changes to their positions in CRK. FMR LLC increased its holdings in Comstock Resources by 266.2% in the third quarter. FMR LLC now owns 25,415 shares of the oil and gas producer's stock valued at $283,000 after buying an additional 18,475 shares in the last quarter. Barclays PLC grew its holdings in shares of Comstock Resources by 256.3% in the 3rd quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer's stock worth $1,731,000 after acquiring an additional 111,934 shares during the period. Sanctuary Advisors LLC purchased a new position in Comstock Resources in the 3rd quarter valued at approximately $169,000. JPMorgan Chase & Co. raised its holdings in Comstock Resources by 9.0% during the third quarter. JPMorgan Chase & Co. now owns 170,338 shares of the oil and gas producer's stock worth $1,896,000 after purchasing an additional 13,998 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Comstock Resources during the fourth quarter worth $214,000. 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.