Comstock Resources (NYSE:CRK) Given New $24.00 Price Target at Mizuho

Comstock Resources (NYSE:CRK) had its price objective increased by Mizuho from $22.00 to $24.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

Several other research analysts have also recently commented on CRK. Williams Trading set a $13.00 target price on Comstock Resources in a research note on Wednesday, March 5th. Morgan Stanley reissued a “cautious” rating and set a $22.00 target price (up from $21.00) on shares of Comstock Resources in a research note on Wednesday, March 26th. StockNews.com raised Comstock Resources to a “sell” rating in a research report on Thursday, May 8th. Truist Financial upped their price objective on Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Finally, Piper Sandler upped their price objective on Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $14.77.

Comstock Resources Trading Up 3.6%

CRK opened at $23.65 on Tuesday. Comstock Resources has a 12 month low of $7.74 and a 12 month high of $24.13. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of -31.12, a PEG ratio of 1.65 and a beta of 0.14. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. The business has a fifty day moving average price of $19.54 and a 200 day moving average price of $17.87.

Comstock Resources (NYSE:CRK) last released its earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The firm had revenue of $512.85 million during the quarter, compared to analysts’ expectations of $408.99 million. During the same period in the previous year, the firm posted ($0.03) EPS. Comstock Resources’s revenue for the quarter was up 52.7% on a year-over-year basis. Sell-side analysts expect that Comstock Resources will post 0.54 earnings per share for the current fiscal year.

Institutional Trading of Comstock Resources

Several institutional investors and hedge funds have recently made changes to their positions in CRK. Raymond James Financial Inc. purchased a new stake in shares of Comstock Resources in the 4th quarter valued at about $11,891,000. Corigliano Investment Advisers LLC purchased a new stake in Comstock Resources during the 4th quarter valued at approximately $11,450,000. Invesco Ltd. raised its stake in Comstock Resources by 79.9% during the 1st quarter. Invesco Ltd. now owns 1,155,680 shares of the oil and gas producer’s stock valued at $23,507,000 after acquiring an additional 513,190 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Comstock Resources during the 4th quarter valued at approximately $6,349,000. Finally, Marshall Wace LLP purchased a new stake in Comstock Resources during the 4th quarter valued at approximately $6,329,000. 36.13% of the stock is owned by hedge funds and other institutional investors.

About Comstock Resources

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.