Comstock Resources (NYSE:CRK) Trading 3% Higher – What’s Next?

Comstock Resources, Inc. (NYSE:CRK)’s stock price shot up 3% during mid-day trading on Monday . The stock traded as high as $20.18 and last traded at $20.43. 83,914 shares traded hands during trading, a decline of 97% from the average session volume of 2,720,613 shares. The stock had previously closed at $19.84.

Analysts Set New Price Targets

CRK has been the topic of several recent research reports. Williams Trading set a $13.00 target price on Comstock Resources in a report on Wednesday, March 5th. Truist Financial upped their target price on Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a report on Monday, January 13th. Citigroup raised their price target on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a report on Friday, December 6th. 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 note on Wednesday, January 29th. Finally, Mizuho raised 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. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $13.73.

Comstock Resources Price Performance

The business has a 50-day moving average price of $19.01 and a two-hundred day moving average price of $15.89. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of -26.74, a price-to-earnings-growth ratio of 1.65 and a beta of 0.55.

Comstock Resources (NYSE:CRK) last released its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.14. The firm had revenue of $366.51 million for 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 anticipate that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Hedge Funds Weigh In On Comstock Resources

A number of hedge funds have recently added to or reduced their stakes in CRK. Bank of Montreal Can lifted its holdings in shares of Comstock Resources by 1.9% in the fourth quarter. Bank of Montreal Can now owns 40,983 shares of the oil and gas producer’s stock valued at $747,000 after purchasing an additional 772 shares in the last quarter. Sunbelt Securities Inc. lifted its stake in Comstock Resources by 140.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock valued at $27,000 after acquiring an additional 1,400 shares in the last quarter. VSM Wealth Advisory LLC purchased a new position in Comstock Resources during the 4th quarter worth $27,000. Natixis Advisors LLC boosted its holdings in Comstock Resources by 6.6% during the 4th quarter. Natixis Advisors LLC now owns 25,778 shares of the oil and gas producer’s stock worth $470,000 after acquiring an additional 1,585 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Comstock Resources by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,539 shares of the oil and gas producer’s stock worth $957,000 after acquiring an additional 1,793 shares in the last quarter. Institutional investors and hedge funds own 36.13% of the company’s stock.

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.