Comstock Resources, Inc. (CRK) – What Are Brokerages Saying About This Stock?

Shares of Comstock Resources, Inc. (NYSE:CRK – Get Free Report) have received a consensus rating of “Reduce” from the fifteen brokerages that are presently covering the stock, Marketbeat reports. Five analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $15.00.

Several equities research analysts have recently commented on CRK shares. BMO Capital Markets restated a “market perform” rating and set a $17.00 price objective (up from $13.00) on shares of Comstock Resources in a report on Wednesday, September 2nd. Truist Financial initiated coverage on Comstock Resources in a report on Thursday, September 17th. They issued a “hold” rating and a $16.00 target price on the stock. Jefferies Financial Group initiated coverage on shares of Comstock Resources in a research report on Friday, September 25th. They issued a “hold” rating and a $14.00 price target for the company. Zacks Research downgraded shares of Comstock Resources from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 16th. Finally, UBS Group set a $14.00 price objective on shares of Comstock Resources and gave the stock a “sell” rating in a report on Wednesday, September 9th.

Get Our Latest Analysis on CRK

Comstock Resources Trading Up 1.8%

CRK opened at $14.38 on Thursday. The company has a fifty day moving average price of $13.92 and a two-hundred day moving average price of $16.35. Comstock Resources has a 1-year low of $12.12 and a 1-year high of $28.10. The company has a market cap of $4.22 billion, a P/E ratio of 8.08 and a beta of 0.52. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.98.

Comstock Resources (NYSE:CRK – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. Comstock Resources had a net margin of 23.31% and a return on equity of 4.12%. The company had revenue of $353.28 million for the quarter, compared to analysts’ expectations of $419.22 million. During the same quarter in the prior year, the firm earned $0.13 EPS. The business’s revenue was down 24.9% on a year-over-year basis. Analysts predict that Comstock Resources will post 0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CRK. BlackRock Inc. bought a new position in Comstock Resources in the 2nd quarter valued at about $176,583,000. State Street Corp increased its holdings in Comstock Resources by 2.7% during the 2nd quarter. State Street Corp now owns 5,336,565 shares of the oil and gas producer’s stock worth $79,622,000 after purchasing an additional 141,295 shares in the last quarter. First Trust Advisors LP increased its holdings in 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 worth $22,759,000 after purchasing an additional 635,781 shares in the last quarter. Goehring & Rozencwajg Associates LLC raised its stake in shares of Comstock Resources by 34.8% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 861,858 shares of the oil and gas producer’s stock worth $18,168,000 after purchasing an additional 222,569 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Comstock Resources by 5.5% in the first quarter. Bank of America Corp DE now owns 726,140 shares of the oil and gas producer’s stock worth $15,307,000 after purchasing an additional 38,060 shares during the last quarter. 36.13% of the stock is currently owned by institutional investors and hedge funds.

About Comstock Resources

(Get Free Report)

Comstock Resources, Inc is an independent energy company engaged in the acquisition, development, production and exploration of oil and natural gas properties. The company’s operations are focused primarily on unconventional resources, with natural gas serving as its principal product.

Comstock’s core asset base is concentrated in the Haynesville and Bossier shale formations in East Texas and North Louisiana. These regions are among the major natural gas-producing areas in the United States, and the company uses horizontal drilling and hydraulic fracturing to develop its properties.

See Also

Analyst Recommendations for Comstock Resources (NYSE:CRK)

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