Comstock Resources, Inc. (NYSE:CRK) Receives Average Recommendation of “Reduce” from Analysts

Comstock Resources, Inc. (NYSE:CRK) has been assigned an average recommendation of “Reduce” from the thirteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $13.73.

Several analysts have commented on CRK shares. Truist Financial lifted their price objective on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Morgan Stanley reaffirmed a “cautious” rating and issued a $22.00 price target (up previously from $21.00) on shares of Comstock Resources in a report on Wednesday. StockNews.com upgraded Comstock Resources to a “sell” rating in a research note on Thursday, March 20th. Mizuho raised Comstock Resources from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $10.00 to $18.00 in a research report on Monday, December 16th. Finally, Williams Trading set a $13.00 price target on Comstock Resources in a research report on Wednesday, March 5th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. increased its position in shares of Comstock Resources by 140.0% during the third 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 during the period. VSM Wealth Advisory LLC purchased a new position in Comstock Resources during the fourth quarter valued at approximately $27,000. 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 Comstock Resources by 225.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock worth $64,000 after acquiring an additional 2,326 shares during the period. Finally, Quarry LP purchased a new stake in Comstock Resources in the 4th quarter worth approximately $70,000. Institutional investors own 36.13% of the company’s stock.

Comstock Resources Stock Performance

CRK stock opened at $19.87 on Wednesday. The business has a 50 day moving average of $19.01 and a 200-day moving average of $15.89. The firm has a market cap of $5.82 billion, a PE ratio of -26.14, a P/E/G ratio of 1.65 and a beta of 0.55. Comstock Resources has a 12-month low of $7.74 and a 12-month high of $22.06. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27.

Comstock Resources (NYSE:CRK) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.14. The firm had revenue of $366.51 million during the quarter, compared to analyst estimates of $370.62 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. As a group, sell-side analysts expect that Comstock Resources will post 0.54 earnings per share for the current year.

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.