Comstock Resources (NYSE:CRK – Get Rating) was upgraded by investment analysts at Piper Sandler from an “underweight” rating to a “neutral” rating in a note issued to investors on Friday, MarketBeat.com reports. The brokerage presently has a $17.00 price objective on the oil and gas producer’s stock, up from their prior price objective of $16.00. Piper Sandler’s target price indicates a potential upside of 25.18% from the company’s current price.
Other analysts also recently issued research reports about the stock. Citigroup restated a “buy” rating and set a $17.00 price objective on shares of Comstock Resources in a report on Thursday. The Goldman Sachs Group downgraded shares of Comstock Resources from a “neutral” rating to a “sell” rating and set a $12.00 target price for the company. in a research note on Monday, July 18th. Mizuho reduced their target price on shares of Comstock Resources from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Tuesday, July 19th. MKM Partners reiterated a “neutral” rating and issued a $11.50 target price on shares of Comstock Resources in a research note on Wednesday. Finally, StockNews.com started coverage on shares of Comstock Resources in a research note on Thursday, March 31st. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $16.25.
Comstock Resources Stock Performance
NYSE CRK opened at $13.58 on Friday. Comstock Resources has a 52-week low of $5.05 and a 52-week high of $22.11. The company has a 50-day simple moving average of $15.68 and a 200 day simple moving average of $12.80. The company has a debt-to-equity ratio of 2.82, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market capitalization of $3.16 billion, a PE ratio of -10.78 and a beta of 1.32.
Comstock Resources (NYSE:CRK – Get Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.51. Comstock Resources had a negative net margin of 10.76% and a positive return on equity of 45.27%. The business had revenue of $524.84 million during the quarter, compared to the consensus estimate of $438.02 million. During the same quarter last year, the company posted $0.25 earnings per share. The firm’s quarterly revenue was up 54.1% compared to the same quarter last year. On average, research analysts predict that Comstock Resources will post 3.42 EPS for the current year.
Hedge Funds Weigh In On Comstock Resources
Hedge funds have recently bought and sold shares of the company. CastleKnight Management LP purchased a new position in Comstock Resources during the fourth quarter valued at approximately $1,409,000. Fractal Investments LLC purchased a new position in Comstock Resources during the fourth quarter valued at approximately $211,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Comstock Resources by 83.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 496,335 shares of the oil and gas producer’s stock valued at $4,015,000 after purchasing an additional 225,990 shares during the last quarter. Sfmg LLC bought a new stake in Comstock Resources during the fourth quarter valued at approximately $162,000. Finally, Cannell & Co. bought a new stake in Comstock Resources during the fourth quarter valued at approximately $558,000. Hedge funds and other institutional investors own 34.56% of the company’s stock.
About Comstock Resources
Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of oil and natural gas primarily in North Louisiana and East Texas, the United States. As of December 31, 2021, the company had 6.1 trillion cubic feet of the natural gas equivalent of proved reserves.
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