Comstock Resources (NYSE:CRK – Get Free Report) was upgraded by analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $34.00 target price on the oil and gas producer’s stock. Wolfe Research’s target price suggests a potential upside of 10.49% from the stock’s previous close.
Other research analysts have also issued reports about the company. UBS Group began coverage on Comstock Resources in a report on Tuesday, April 22nd. They set a “neutral” rating and a $19.00 target price on the stock. Williams Trading set a $13.00 target price on Comstock Resources in a report on Wednesday, March 5th. Wall Street Zen upgraded Comstock Resources to a “sell” rating in a report on Thursday, May 8th. Morgan Stanley reiterated a “cautious” rating and set a $22.00 target price (up from $21.00) on shares of Comstock Resources in a report on Wednesday, March 26th. Finally, Bank of America lifted their target price on Comstock Resources from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Comstock Resources has a consensus rating of “Hold” and an average target price of $19.73.
Read Our Latest Stock Report on CRK
Comstock Resources Stock Performance
Comstock Resources (NYSE:CRK – Get Free Report) last posted its earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. The firm had revenue of $512.85 million for the quarter, compared to analyst estimates of $408.99 million. Comstock Resources had a negative return on equity of 0.67% and a negative net margin of 23.39%. The company’s revenue for the quarter was up 52.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) earnings per share. As a group, research analysts forecast that Comstock Resources will post 0.54 earnings per share for the current year.
Institutional Trading of Comstock Resources
Institutional investors have recently modified their holdings of the company. VSM Wealth Advisory LLC acquired a new stake in shares of Comstock Resources in the fourth quarter valued at about $27,000. Nisa Investment Advisors LLC increased its position in Comstock Resources by 129.3% during the first 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 last quarter. Emerald Mutual Fund Advisers Trust acquired a new position in Comstock Resources during the first quarter worth approximately $52,000. Sterling Capital Management LLC increased its position 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 worth $54,000 after buying an additional 2,631 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Comstock Resources by 225.2% during the fourth 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 last quarter. 36.13% of the stock is currently owned by 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.
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