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.

Several hedge funds and other institutional investors have recently modified their holdings of CRK. First Trust Advisors LP boosted its position in shares of Comstock Resources by 30.1% in the first quarter. First Trust Advisors LP now owns 177,840 shares of the oil and gas producer’s stock worth $1,232,000 after buying an additional 41,094 shares during the period. State Street Corp lifted its stake in shares of Comstock Resources by 12.5% in the first quarter. State Street Corp now owns 254,016 shares of the oil and gas producer’s stock worth $1,369,000 after acquiring an additional 28,163 shares in the last quarter. Parametric Portfolio Associates LLC acquired a new position in shares of Comstock Resources in the first quarter worth about $219,000. Nuveen Asset Management LLC lifted its stake in shares of Comstock Resources by 85.6% in the first quarter. Nuveen Asset Management LLC now owns 69,760 shares of the oil and gas producer’s stock worth $376,000 after acquiring an additional 32,177 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in Comstock Resources by 29.3% during the first quarter. Alliancebernstein L.P. now owns 40,600 shares of the oil and gas producer’s stock valued at $219,000 after buying an additional 9,200 shares in the last quarter. 17.33% of the stock is owned by institutional investors.

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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Analyst Recommendations for Comstock Resources (NYSE:CRK)

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