Comstock Resources (NYSE:CRK) Stock Price Up 1.8% - Still a Buy?

Comstock Resources, Inc. (NYSE:CRK - Get Free Report) traded up 1.8% during mid-day trading on Monday . The stock traded as high as $17.42 and last traded at $17.42. 180,183 shares were traded during mid-day trading, a decline of 93% from the average session volume of 2,723,249 shares. The stock had previously closed at $17.12.

Analyst Ratings Changes

CRK has been the subject of a number of analyst reports. Mizuho raised shares of Comstock Resources from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Truist Financial upped their price target on Comstock Resources from $11.00 to $19.00 and gave the stock a "hold" rating in a research note on Monday, January 13th. Williams Trading set a $13.00 target price on Comstock Resources in a research note on Wednesday, March 5th. Piper Sandler upped their price objective on shares of Comstock Resources from $5.00 to $6.00 and gave the company an "underweight" rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley reiterated a "cautious" rating and set a $22.00 price target (up previously from $21.00) on shares of Comstock Resources in a research note on Wednesday, March 26th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Comstock Resources presently has a consensus rating of "Hold" and a consensus target price of $13.73.

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Comstock Resources Trading Up 7.1 %

The stock has a market capitalization of $5.66 billion, a PE ratio of -25.43, a P/E/G ratio of 1.65 and a beta of 0.42. The firm has a 50 day moving average price of $18.84 and a 200 day moving average price of $16.58. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of Comstock Resources in the 4th quarter worth approximately $11,891,000. Corigliano Investment Advisers LLC purchased a new position in Comstock Resources in the fourth quarter worth about $11,450,000. Susquehanna Fundamental Investments LLC bought a new position in Comstock Resources in the 4th quarter valued at approximately $6,349,000. Marshall Wace LLP purchased a new position in Comstock Resources in the 4th quarter worth about $6,329,000. Finally, Edgestream Partners L.P. bought a new position in Comstock Resources during the fourth quarter valued at approximately $4,430,000. Institutional investors own 36.13% of the company's stock.

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.