Mizuho Increases Comstock Resources (NYSE:CRK) Price Target to $24.00

Comstock Resources (NYSE:CRK) had its target price upped by Mizuho from $22.00 to $24.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the oil and gas producer’s stock.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler increased their target price on Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Wednesday, January 29th. Morgan Stanley reiterated a “cautious” rating and set a $22.00 target price (up previously from $21.00) on shares of Comstock Resources in a report on Wednesday, March 26th. Williams Trading set a $13.00 target price on Comstock Resources in a report on Wednesday, March 5th. Truist Financial increased 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. Finally, StockNews.com raised Comstock Resources to a “sell” rating in a research note on Thursday, May 8th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.77.

Comstock Resources Stock Performance

NYSE CRK opened at $23.65 on Tuesday. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27. The business’s 50 day moving average is $19.54 and its two-hundred day moving average is $17.87. Comstock Resources has a 12-month low of $7.74 and a 12-month high of $24.13. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of -31.12, a PEG ratio of 1.65 and a beta of 0.14.

Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $512.85 million for the quarter, compared to analysts’ expectations of $408.99 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The company’s revenue was up 52.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.03) EPS. Research analysts expect that Comstock Resources will post 0.54 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. VSM Wealth Advisory LLC purchased a new position in shares of Comstock Resources in the 4th quarter worth $27,000. Nisa Investment Advisors LLC raised its position in shares of Comstock Resources by 129.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer’s stock worth $42,000 after buying an additional 1,170 shares during the period. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Comstock Resources in the 1st quarter worth $52,000. Sterling Capital Management LLC raised its position in shares of Comstock Resources by 804.6% in the 4th quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer’s stock worth $54,000 after buying an additional 2,631 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of Comstock Resources by 225.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock worth $64,000 after buying an additional 2,326 shares during the period. 36.13% of the stock is owned by hedge funds and other institutional investors.

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.