Comstock Resources (NYSE:CRK) Trading Up 1.8% – Still a Buy?

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

Analysts Set New Price Targets

Several research firms have commented on CRK. Williams Trading set a $13.00 target price on shares of Comstock Resources in a report on Wednesday, March 5th. StockNews.com upgraded Comstock Resources to a “sell” rating in a report on Friday. Piper Sandler lifted their price target on shares of Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Wednesday, January 29th. Morgan Stanley reaffirmed a “cautious” rating and set a $22.00 target price (up from $21.00) on shares of Comstock Resources in a research report on Wednesday, March 26th. Finally, Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and upped their price target for the company from $10.00 to $18.00 in a research report on Monday, December 16th. Five equities 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $13.73.

Comstock Resources Stock Performance

The stock has a market cap of $5.24 billion, a P/E ratio of -23.56, a P/E/G ratio of 1.65 and a beta of 0.42. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. The company has a fifty day moving average price of $18.89 and a 200 day moving average price of $16.34.

Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.14. The business had revenue of $366.51 million for the quarter, compared to analysts’ expectations of $370.62 million. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. On average, equities analysts expect that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Hedge Funds Weigh In On Comstock Resources

Institutional investors have recently added to or reduced their stakes in the stock. VSM Wealth Advisory LLC purchased a new position in Comstock Resources in the fourth quarter valued at approximately $27,000. Sunbelt Securities Inc. grew its holdings 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 buying an additional 1,400 shares in the last quarter. Sterling Capital Management LLC grew its stake in Comstock Resources by 804.6% during the fourth quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer’s stock valued at $54,000 after acquiring an additional 2,631 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Comstock Resources by 225.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock worth $64,000 after purchasing an additional 2,326 shares during the period. Finally, Quarry LP bought a new stake in Comstock Resources during the fourth quarter valued at $70,000. 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.