Comstock Resources, Inc. (NYSE:CRK) Receives Average Recommendation of “Buy” from Analysts
Shares of Comstock Resources, Inc. (NYSE:CRK) have received a consensus rating of “Buy” from the thirteen research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $7.40.
CRK has been the topic of several analyst reports. ValuEngine upgraded Comstock Resources from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 30th. Piper Sandler lifted their target price on Comstock Resources from $5.50 to $6.50 and gave the company a “neutral” rating in a research note on Monday, August 10th. Zacks Investment Research upgraded Comstock Resources from a “hold” rating to a “buy” rating and set a $6.50 target price on the stock in a research note on Tuesday, October 13th. Citigroup initiated coverage on Comstock Resources in a research note on Tuesday, July 21st. They issued a “buy” rating and a $8.00 target price on the stock. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $7.60 target price on shares of Comstock Resources in a research note on Friday, October 9th.
In related news, Director Stuart D. Porter sold 9,842,500 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $5.60, for a total value of $55,118,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.50% of the company’s stock.
NYSE:CRK traded down $0.01 during mid-day trading on Tuesday, reaching $5.66. 1,281,848 shares of the stock were exchanged, compared to its average volume of 1,465,731. The company has a 50 day simple moving average of $5.11 and a 200-day simple moving average of $5.56. The stock has a market capitalization of $1.32 billion, a P/E ratio of 141.50 and a beta of 2.08. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.90. Comstock Resources has a 1 year low of $4.05 and a 1 year high of $8.50.
Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $179.54 million for the quarter, compared to the consensus estimate of $230.50 million. Comstock Resources had a return on equity of 11.48% and a net margin of 5.88%. As a group, research analysts predict that Comstock Resources will post 0.29 EPS for the current year.
Comstock Resources Company Profile
Comstock Resources, Inc, an independent energy company, engage in the acquisition, exploration for, development, and production of oil and natural gas properties, primarily in Texas, Louisiana, and North Dakota. As of December 31, 2019, the company had 5.3 trillion cubic feet of natural gas equivalent and 16.7 million barrels of oil equivalent of proved reserves.
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