Comstock Resources, Inc. (NYSE:CRK) Receives $17.00 Average Price Target from Analysts

Shares of Comstock Resources, Inc. (NYSE:CRK) have received a consensus recommendation of “Reduce” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $17.00.

Several equities research analysts have commented on CRK shares. Mizuho lowered their target price on shares of Comstock Resources from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, May 27th. Morgan Stanley lowered their target price on shares of Comstock Resources from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Friday, May 22nd. Wall Street Zen downgraded shares of Comstock Resources from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 9th. UBS Group reaffirmed a “sell” rating and issued a $13.00 target price (down from $17.00) on shares of Comstock Resources in a research note on Monday, May 11th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Comstock Resources in a research note on Wednesday, April 15th.

Comstock Resources Price Performance

NYSE:CRK opened at $13.85 on Friday. The firm has a market cap of $4.07 billion, a PE ratio of 6.33 and a beta of 0.13. Comstock Resources has a 12 month low of $12.44 and a 12 month high of $28.84. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.96. The company’s 50-day moving average price is $14.63 and its two-hundred day moving average price is $18.93.

Comstock Resources (NYSE:CRK) last announced its earnings results on Tuesday, May 5th. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). Comstock Resources had a return on equity of 5.54% and a net margin of 27.18%.The company had revenue of $587.35 million for the quarter, compared to analyst estimates of $554.02 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. Comstock Resources’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, equities analysts anticipate that Comstock Resources will post 0.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. CreativeOne Wealth LLC boosted its holdings in Comstock Resources by 3.7% during the third quarter. CreativeOne Wealth LLC now owns 13,931 shares of the oil and gas producer’s stock worth $276,000 after purchasing an additional 500 shares during the last quarter. Natixis Advisors LLC boosted its holdings in Comstock Resources by 2.0% during the fourth quarter. Natixis Advisors LLC now owns 29,703 shares of the oil and gas producer’s stock worth $689,000 after purchasing an additional 572 shares during the last quarter. Carrera Capital Advisors boosted its holdings in Comstock Resources by 0.7% during the fourth quarter. Carrera Capital Advisors now owns 82,910 shares of the oil and gas producer’s stock worth $1,922,000 after purchasing an additional 606 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Comstock Resources by 12.1% during the fourth quarter. GAMMA Investing LLC now owns 6,303 shares of the oil and gas producer’s stock worth $146,000 after purchasing an additional 679 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Comstock Resources by 14.2% in the fourth quarter. Farther Finance Advisors LLC now owns 6,435 shares of the oil and gas producer’s stock valued at $149,000 after acquiring an additional 802 shares during the last quarter. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Company Profile

Comstock Resources, Inc is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties in the United States. The company focuses on generating long-term value through the efficient development of unconventional resource plays and conventional prospects. Its activities encompass drilling, completion and production operations, as well as the marketing of natural gas, natural gas liquids and crude oil.

Comstock holds a core position in the Haynesville Shale of Northwest Louisiana, one of the most active natural gas plays in North America, and has built a complementary portfolio in the Delaware Basin of West Texas.