Comstock Resources (NYSE:CRK) Price Target Raised to $15.50

Comstock Resources (NYSE:CRK - Get Free Report) had its price target hoisted by stock analysts at Citigroup from $12.50 to $15.50 in a report issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the oil and gas producer's stock. Citigroup's target price points to a potential upside of 7.34% from the stock's current price.

A number of other equities research analysts also recently commented on the company. Siebert Williams Shank downgraded 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. Truist Financial raised their target price on Comstock Resources from $9.00 to $10.00 and gave the company a "hold" rating in a report on Monday, September 30th. Bank of America assumed coverage on Comstock Resources in a research note on Monday, October 28th. They set a "buy" rating and a $14.00 price target for the company. Piper Sandler downgraded Comstock Resources from a "neutral" rating to an "underweight" rating and cut their price target for the stock from $8.00 to $5.00 in a research note on Thursday, August 15th. Finally, BMO Capital Markets lifted their price target on Comstock Resources from $10.00 to $11.00 and gave the stock a "market perform" rating in a research note on Friday, October 4th. Five 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 company. According to MarketBeat, Comstock Resources presently has an average rating of "Hold" and an average price target of $10.89.

Comstock Resources Trading Down 2.0 %

CRK stock traded down $0.29 during mid-day trading on Friday, hitting $14.44. 1,141,539 shares of the company were exchanged, compared to its average volume of 3,410,132. 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 market capitalization of $4.22 billion, a P/E ratio of -80.22 and a beta of 0.57. The business has a fifty day simple moving average of $12.91 and a 200-day simple moving average of $11.38. Comstock Resources has a 12-month low of $7.07 and a 12-month high of $15.84.

Comstock Resources (NYSE:CRK - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.01). Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The company had revenue of $304.50 million for the quarter, compared to analyst estimates of $308.75 million. During the same period in the previous year, the business posted $0.04 EPS. The firm's revenue for the quarter was down 19.2% compared to the same quarter last year. On average, equities research analysts predict that Comstock Resources will post -0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. purchased a new stake in shares of Comstock Resources during the third quarter valued at $25,000. Sunbelt Securities Inc. lifted its holdings in shares of Comstock Resources by 140.0% during the third quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer's stock valued at $27,000 after purchasing an additional 1,400 shares during the last quarter. Blue Trust Inc. purchased a new stake in shares of Comstock Resources during the second quarter valued at $32,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Comstock Resources by 2,533.8% during the second quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer's stock valued at $34,000 after purchasing an additional 3,446 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Comstock Resources by 27.5% during the second quarter. GAMMA Investing LLC now owns 6,083 shares of the oil and gas producer's stock valued at $63,000 after purchasing an additional 1,312 shares during the last quarter. 36.13% of the stock is currently owned by institutional investors.

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.

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