Analysts at Truist Financial began coverage on shares of Comstock Resources (NYSE:CRK – Get Free Report) in a research report issued on Thursday, Benzinga reports. The brokerage set a “hold” rating and a $16.00 price target on the oil and gas producer’s stock. Truist Financial’s price objective would suggest a potential upside of 22.08% from the company’s previous close.
Several other analysts also recently weighed in on the stock. Cantor Fitzgerald reiterated a “neutral” rating on shares of Comstock Resources in a research report on Wednesday, September 2nd. The Goldman Sachs Group upped their target price on shares of Comstock Resources from $9.00 to $15.00 and gave the stock a “sell” rating in a research report on Wednesday, September 2nd. Mizuho lifted their price target on Comstock Resources from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Tuesday, September 1st. Wall Street Zen downgraded Comstock Resources from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 29th. Finally, UBS Group set a $14.00 price objective on Comstock Resources and gave the stock a “sell” rating in a report on Wednesday, September 9th. Nine research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $15.91.
View Our Latest Stock Report on Comstock Resources
Comstock Resources Price Performance
Comstock Resources (NYSE:CRK – Get Free Report) last posted its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Comstock Resources had a return on equity of 4.12% and a net margin of 23.31%.The company had revenue of $353.28 million for the quarter, compared to analysts’ expectations of $419.22 million. During the same period last year, the business posted $0.13 earnings per share. The firm’s quarterly revenue was down 24.9% compared to the same quarter last year. On average, research analysts forecast that Comstock Resources will post 0.35 earnings per share for the current year.
Hedge Funds Weigh In On Comstock Resources
Large investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Comstock Resources during the second quarter worth approximately $176,583,000. Dragoneer Investment Group LLC bought a new position in shares of Comstock Resources in the fourth quarter valued at $99,632,000. Gemsstock Ltd. acquired a new stake in shares of Comstock Resources during the 4th quarter valued at $19,186,000. First Trust Advisors LP lifted its position in shares of Comstock Resources by 143.2% during the 1st quarter. First Trust Advisors LP now owns 1,079,633 shares of the oil and gas producer’s stock valued at $22,759,000 after acquiring an additional 635,781 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Comstock Resources during the 2nd quarter valued at $8,311,000. Institutional investors and hedge funds own 36.13% of the company’s stock.
About Comstock Resources
Comstock Resources, Inc is an independent exploration and production company focused on finding, developing, acquiring and producing oil and natural gas in the United States. Its operations are primarily centered on natural gas and natural gas liquids, with production sold to commercial customers, utilities, marketers and other participants in energy markets.
The company’s principal assets are located in the Haynesville and Bossier shale plays in North Louisiana and East Texas, one of the largest natural gas-producing regions in the United States.
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