Comstock Resources (NYSE:CRK) Rating Increased to Neutral at Mizuho

Mizuho upgraded shares of Comstock Resources (NYSE:CRK) from an underperform rating to a neutral rating in a research report released on Monday, MarketBeat.com reports. They currently have $18.00 price target on the oil and gas producer’s stock, up from their previous price target of $10.00.

CRK has been the subject of several other research reports. Citigroup lifted their price target on shares of Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research report on Friday, December 6th. Siebert Williams Shank cut shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective for the company. in a report on Tuesday, October 15th. Truist Financial upped their target price on shares of Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Bank of America started coverage on Comstock Resources in a research note on Monday, October 28th. They set a “buy” rating and a $14.00 price target for the company. Finally, BMO Capital Markets increased their price objective on Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.78.

Comstock Resources Trading Down 4.5 %

CRK opened at $15.36 on Monday. The company has a fifty day moving average price of $13.62 and a two-hundred day moving average price of $11.65. Comstock Resources has a 1-year low of $7.07 and a 1-year high of $17.79. The company has a market cap of $4.49 billion, a P/E ratio of -85.33 and a beta of 0.57. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The firm had revenue of $304.50 million for the quarter, compared to analyst estimates of $308.75 million. During the same period last year, the company posted $0.04 earnings per share. The firm’s quarterly revenue was down 19.2% compared to the same quarter last year. Analysts predict that Comstock Resources will post -0.44 EPS for the current fiscal year.

Institutional Trading of Comstock Resources

A number of hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. bought a new stake in Comstock Resources in the third quarter worth about $25,000. Sunbelt Securities Inc. increased its stake in shares of Comstock Resources by 140.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock worth $27,000 after purchasing an additional 1,400 shares during the last quarter. Blue Trust Inc. bought a new stake in shares of Comstock Resources in the 2nd quarter worth approximately $32,000. EverSource Wealth Advisors LLC lifted its stake in Comstock Resources by 2,533.8% in the second quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 3,446 shares during the last quarter. Finally, Choreo LLC bought a new position in Comstock Resources during the second quarter valued at $105,000. 36.13% of the stock is currently owned by institutional investors.

Comstock Resources Company Profile

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.