Comstock Resources (NYSE:CRK) Shares Up 3% - Should You Buy?

Comstock Resources, Inc. (NYSE:CRK - Get Free Report)'s share price rose 3% on Monday . The stock traded as high as $20.18 and last traded at $20.43. Approximately 83,914 shares traded hands during trading, a decline of 97% from the average daily volume of 2,720,613 shares. The stock had previously closed at $19.84.

Wall Street Analyst Weigh In

CRK has been the subject of a number of analyst reports. Piper Sandler increased their price target on Comstock Resources from $5.00 to $6.00 and gave the company an "underweight" rating in a report on Wednesday, January 29th. Mizuho upgraded shares of Comstock Resources from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $10.00 to $18.00 in a research note on Monday, December 16th. StockNews.com upgraded shares of Comstock Resources to a "sell" rating in a research note on Friday. Truist Financial raised their price objective on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a "hold" rating in a report on Monday, January 13th. Finally, Citigroup upped their target price on shares of Comstock Resources from $12.50 to $15.50 and gave the company a "neutral" rating in a research note on Friday, December 6th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $13.73.

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Comstock Resources Price Performance

The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of -22.55, a PEG ratio of 1.65 and a beta of 0.55. The business has a 50-day moving average price of $18.97 and a two-hundred day moving average price of $16.15. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27.

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

Hedge Funds Weigh In On Comstock Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sunbelt Securities Inc. increased 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 period. VSM Wealth Advisory LLC acquired a new position in Comstock Resources during the 4th quarter valued at about $27,000. Sterling Capital Management LLC raised its position in shares of Comstock Resources by 804.6% during the 4th quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer's stock worth $54,000 after buying an additional 2,631 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Comstock Resources by 225.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer's stock worth $64,000 after buying an additional 2,326 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Comstock Resources in the 4th quarter worth approximately $70,000. 36.13% of the stock is owned by institutional investors.

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.