Citigroup Issues Positive Forecast for Comstock Resources (NYSE:CRK) Stock Price

Comstock Resources (NYSE:CRK) had its target price raised by Citigroup from $12.50 to $15.50 in a research report released on Friday,Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

CRK has been the subject of several other research reports. Piper Sandler downgraded shares of Comstock Resources from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $8.00 to $5.00 in a research report on Thursday, August 15th. Mizuho dropped their target price on shares of Comstock Resources from $11.00 to $10.00 and set an “underperform” rating for the company in a research report on Monday, September 16th. Bank of America assumed coverage on shares of Comstock Resources in a research report on Monday, October 28th. They issued a “buy” rating and a $14.00 target price for the company. BMO Capital Markets boosted their target price on shares of Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. Finally, Truist Financial boosted their target price on shares of Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.89.

Comstock Resources Stock Performance

Shares of CRK stock opened at $14.52 on Friday. Comstock Resources has a 12 month low of $7.07 and a 12 month high of $15.84. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.60 and a quick ratio of 0.60. The firm has a market capitalization of $4.24 billion, a P/E ratio of -80.63 and a beta of 0.57. The company’s fifty day moving average price is $12.98 and its two-hundred day moving average price is $11.40.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its holdings in Comstock Resources by 26.3% during the second quarter. Dimensional Fund Advisors LP now owns 11,696,540 shares of the oil and gas producer’s stock worth $121,414,000 after buying an additional 2,438,252 shares in the last quarter. KGH Ltd boosted its holdings in Comstock Resources by 8.7% during the second quarter. KGH Ltd now owns 12,125,000 shares of the oil and gas producer’s stock worth $125,858,000 after buying an additional 975,000 shares in the last quarter. Millennium Management LLC boosted its holdings in Comstock Resources by 775.4% during the second quarter. Millennium Management LLC now owns 875,371 shares of the oil and gas producer’s stock worth $9,086,000 after buying an additional 775,371 shares in the last quarter. HITE Hedge Asset Management LLC bought a new stake in Comstock Resources during the second quarter worth approximately $6,544,000. Finally, American Century Companies Inc. boosted its holdings in Comstock Resources by 19.0% during the second quarter. American Century Companies Inc. now owns 2,270,435 shares of the oil and gas producer’s stock worth $23,567,000 after buying an additional 362,043 shares in the last quarter. 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.