Comstock Resources (NYSE:CRK) Stock Price Expected to Rise, Piper Sandler Analyst Says

Comstock Resources (NYSE:CRK) had its price target raised by Piper Sandler from $5.00 to $6.00 in a research note released on Wednesday,Benzinga reports. They currently have an underweight rating on the oil and gas producer’s stock.

A number of other research analysts have also recently commented on the company. Siebert Williams Shank cut Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price target on the stock. in a research report on Tuesday, October 15th. Citigroup upped their price objective on shares of Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, December 6th. Mizuho upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $10.00 to $18.00 in a research note on Monday, December 16th. Bank of America initiated coverage on shares of Comstock Resources in a research note on Monday, October 28th. They set a “buy” rating and a $14.00 price target on the stock. Finally, Truist Financial lifted their price objective on shares of Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Comstock Resources has a consensus rating of “Hold” and a consensus price target of $13.40.

Comstock Resources Stock Performance

Shares of CRK stock opened at $18.48 on Wednesday. Comstock Resources has a 52 week low of $7.07 and a 52 week high of $22.06. The firm’s 50-day simple moving average is $17.78 and its two-hundred day simple moving average is $13.45. The firm has a market cap of $5.40 billion, a price-to-earnings ratio of -102.67, a P/E/G ratio of 1.60 and a beta of 0.51. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.60 and a current ratio of 0.60.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data 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). Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. The firm had revenue of $304.50 million during the quarter, compared to analysts’ expectations of $308.75 million. During the same quarter in the previous year, the company posted $0.04 EPS. Comstock Resources’s revenue for the quarter was down 19.2% on a year-over-year basis. As a group, equities analysts forecast that Comstock Resources will post -0.42 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Elizabeth B. Davis sold 10,000 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.62, for a total transaction of $156,200.00. Following the completion of the transaction, the director now owns 143,781 shares of the company’s stock, valued at approximately $2,245,859.22. The trade was a 6.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 38,000 shares of company stock worth $634,660 in the last ninety days. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Comstock Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of CRK. Royce & Associates LP raised its position in shares of Comstock Resources by 79.2% during the 3rd quarter. Royce & Associates LP now owns 689,780 shares of the oil and gas producer’s stock valued at $7,677,000 after buying an additional 304,780 shares in the last quarter. Barclays PLC increased its stake in Comstock Resources by 256.3% in the third quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer’s stock valued at $1,731,000 after acquiring an additional 111,934 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Comstock Resources by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,413,820 shares of the oil and gas producer’s stock valued at $15,736,000 after purchasing an additional 57,376 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Comstock Resources by 9.0% during the third 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. Finally, Intech Investment Management LLC purchased a new position in shares of Comstock Resources in the 3rd quarter worth about $419,000. Hedge funds and other 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.