Comstock Resources (NYSE:CRK) Stock Price Up 5.1% – Still a Buy?

Shares of Comstock Resources, Inc. (NYSE:CRK) traded up 5.1% during trading on Tuesday . The company traded as high as $15.50 and last traded at $15.49. 578,281 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 3,392,527 shares. The stock had previously closed at $14.74.

Analysts Set New Price Targets

CRK has been the subject of several recent analyst reports. Truist Financial raised their target price on Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Piper Sandler lowered Comstock Resources from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $8.00 to $5.00 in a research note on Thursday, August 15th. Bank of America initiated coverage on Comstock Resources in a report on Monday, October 28th. They set a “buy” rating and a $14.00 price objective on the stock. Citigroup increased their target price on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research note on Friday. Finally, Siebert Williams Shank lowered shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price target for the company. in a research note on Tuesday, October 15th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.89.

Comstock Resources Stock Up 3.3 %

The firm has a market cap of $4.45 billion, a price-to-earnings ratio of -81.94 and a beta of 0.57. The stock has a 50-day moving average of $13.05 and a 200-day moving average of $11.43. 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 announced its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The firm had revenue of $304.50 million for the quarter, compared to analyst estimates of $308.75 million. Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. The business’s revenue was down 19.2% compared to the same quarter last year. During the same period last year, the firm posted $0.04 EPS. As a group, sell-side analysts forecast that Comstock Resources, Inc. will post -0.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Comstock Resources

Several large investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new position in shares of Comstock Resources during the third quarter worth approximately $25,000. Sunbelt Securities Inc. boosted its position in 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 acquiring an additional 1,400 shares during the period. Blue Trust Inc. bought a new position in shares of Comstock Resources in the second quarter worth $32,000. EverSource Wealth Advisors LLC increased its holdings in shares of Comstock Resources by 2,533.8% during 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 period. Finally, Choreo LLC bought a new stake in shares of Comstock Resources during the second quarter valued at about $105,000. Institutional investors and hedge funds own 36.13% of the company’s stock.

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.