Analysts Set Comstock Resources, Inc. (NYSE:CRK) Price Target at $10.25

Comstock Resources, Inc. (NYSE:CRK) has been assigned an average recommendation of “Hold” from the eleven analysts that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $10.25.

Several equities research analysts have weighed in on CRK shares. The Goldman Sachs Group lifted their price target on shares of Comstock Resources from $9.00 to $10.00 and gave the company a “sell” rating in a research note on Tuesday, May 28th. Capital One Financial downgraded shares of Comstock Resources from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, May 15th. KeyCorp started coverage on shares of Comstock Resources in a research report on Thursday, June 27th. They set a “sector weight” rating for the company. Stifel Nicolaus decreased their target price on shares of Comstock Resources from $14.00 to $13.50 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Finally, StockNews.com raised shares of Comstock Resources to a “sell” rating in a research report on Monday, April 29th.

Comstock Resources Trading Down 0.2 %

CRK opened at $10.05 on Friday. Comstock Resources has a 1-year low of $7.07 and a 1-year high of $13.39. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.09. The company has a market cap of $2.94 billion, a P/E ratio of 45.59 and a beta of 0.51. The company has a fifty day moving average price of $10.94 and a two-hundred day moving average price of $9.53.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.05. Comstock Resources had a net margin of 4.27% and a return on equity of 1.25%. The firm had revenue of $335.77 million during the quarter, compared to the consensus estimate of $343.97 million. During the same period in the previous year, the firm posted $0.33 earnings per share. The business’s revenue was down 31.4% compared to the same quarter last year. Analysts predict that Comstock Resources will post -0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRK. American Century Companies Inc. boosted its holdings in Comstock Resources by 7.9% during the third quarter. American Century Companies Inc. now owns 1,321,191 shares of the oil and gas producer’s stock worth $14,573,000 after purchasing an additional 96,669 shares during the last quarter. SG Americas Securities LLC boosted its stake in Comstock Resources by 4.6% in the fourth quarter. SG Americas Securities LLC now owns 53,942 shares of the oil and gas producer’s stock valued at $477,000 after acquiring an additional 2,389 shares during the last quarter. Wealthsource Partners LLC purchased a new position in Comstock Resources in the fourth quarter valued at about $134,000. Stratos Wealth Partners LTD. purchased a new position in Comstock Resources in the fourth quarter valued at about $97,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Comstock Resources by 5.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,381 shares of the oil and gas producer’s stock valued at $366,000 after acquiring an additional 2,310 shares during the last quarter. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

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.