Truist Financial Issues Positive Forecast for Comstock Resources (NYSE:CRK) Stock Price

Comstock Resources (NYSE:CRK - Get Free Report) had its price objective boosted by stock analysts at Truist Financial from $11.00 to $19.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the oil and gas producer's stock. Truist Financial's price target would suggest a potential downside of 4.71% from the stock's previous close.

A number of other research firms have also recently issued reports on CRK. BMO Capital Markets boosted their price objective on Comstock Resources from $10.00 to $11.00 and gave the company a "market perform" rating in a research report on Friday, October 4th. Mizuho upgraded Comstock Resources from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $10.00 to $18.00 in a research report on Monday, December 16th. Citigroup boosted their price objective on Comstock Resources from $12.50 to $15.50 and gave the company a "neutral" rating in a research report on Friday, December 6th. Bank of America started coverage on Comstock Resources in a research report on Monday, October 28th. They set a "buy" rating and a $14.00 price objective on the stock. Finally, Morgan Stanley assumed coverage on Comstock Resources in a research report on Friday. They set an "equal weight" rating and a $18.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Comstock Resources presently has an average rating of "Hold" and an average price target of $13.30.

Comstock Resources Stock Performance

NYSE CRK traded up $0.06 during trading on Monday, hitting $19.94. The company's stock had a trading volume of 3,053,960 shares, compared to its average volume of 3,095,577. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.25. The firm has a 50 day moving average price of $15.77 and a 200 day moving average price of $12.46. The firm has a market cap of $5.83 billion, a P/E ratio of -110.77 and a beta of 0.51. Comstock Resources has a 52 week low of $7.07 and a 52 week high of $20.57.

Comstock Resources (NYSE:CRK - Get Free Report) last issued its quarterly 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). The business had revenue of $304.50 million during 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%. The business's quarterly revenue was down 19.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 earnings per share. Equities research analysts forecast that Comstock Resources will post -0.44 earnings per share for the current fiscal year.

Insider Activity at Comstock Resources

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the 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 completion of the sale, the director now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 38,000 shares of company stock worth $634,660. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in Comstock Resources during the fourth quarter valued at approximately $214,000. JPMorgan Chase & Co. lifted its holdings in Comstock Resources by 9.0% during the 3rd 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. Sanctuary Advisors LLC acquired a new stake in Comstock Resources during the 3rd quarter worth approximately $169,000. Barclays PLC lifted its holdings in Comstock Resources by 256.3% during the 3rd quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer's stock worth $1,731,000 after purchasing an additional 111,934 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its holdings in Comstock Resources by 140.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer's stock valued at $27,000 after acquiring an additional 1,400 shares in the last quarter. 36.13% of the stock is owned by institutional investors and hedge funds.

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.