Comstock Resources (NYSE:CRK) Price Target Raised to $29.00

Comstock Resources (NYSE:CRK) had its target price increased by Mizuho from $21.00 to $29.00 in a research note released on Friday morning, MarketBeat reports. They currently have a neutral rating on the oil and gas producer’s stock.

A number of other research analysts also recently issued reports on CRK. Piper Sandler decreased their price objective on Comstock Resources from $9.00 to $8.00 and set an “underweight” rating for the company in a report on Tuesday, November 18th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comstock Resources in a research note on Monday, December 8th. Roth Capital downgraded shares of Comstock Resources from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $18.00 to $12.00 in a report on Monday, August 18th. UBS Group increased their target price on shares of Comstock Resources from $14.00 to $16.00 and gave the stock a “sell” rating in a report on Thursday, November 6th. Finally, Zacks Research upgraded shares of Comstock Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Comstock Resources has an average rating of “Reduce” and an average price target of $20.60.

Comstock Resources Stock Up 0.9%

Shares of CRK stock opened at $21.69 on Friday. Comstock Resources has a 12-month low of $14.65 and a 12-month high of $31.17. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 1.19. The firm has a fifty day moving average of $22.04 and a 200-day moving average of $21.13. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of 86.78 and a beta of 0.33.

Comstock Resources (NYSE:CRK) last announced its earnings results on Monday, November 3rd. The oil and gas producer reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The firm had revenue of $449.85 million during the quarter, compared to analyst estimates of $433.54 million. Comstock Resources had a net margin of 3.14% and a return on equity of 6.71%. The company’s revenue for the quarter was up 47.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.17) EPS. As a group, equities research analysts predict that Comstock Resources will post 0.54 earnings per share for the current fiscal year.

Institutional Trading of Comstock Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRK. Bank of America Corp DE grew its position in shares of Comstock Resources by 344.5% in the 2nd quarter. Bank of America Corp DE now owns 1,853,846 shares of the oil and gas producer’s stock valued at $51,296,000 after acquiring an additional 1,436,746 shares during the period. Aventail Capital Group LP lifted its stake in Comstock Resources by 149.9% in the 3rd quarter. Aventail Capital Group LP now owns 1,143,721 shares of the oil and gas producer’s stock valued at $22,680,000 after purchasing an additional 686,002 shares during the last quarter. Man Group plc grew its holdings in Comstock Resources by 1,752.8% during the third quarter. Man Group plc now owns 600,205 shares of the oil and gas producer’s stock worth $11,902,000 after purchasing an additional 567,810 shares during the period. Invesco Ltd. increased its position in Comstock Resources by 79.9% during the first quarter. Invesco Ltd. now owns 1,155,680 shares of the oil and gas producer’s stock worth $23,507,000 after buying an additional 513,190 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Comstock Resources in the third quarter valued at approximately $8,961,000. 36.13% of the stock is 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.