Comstock Resources (NYSE:CRK) Upgraded at Mizuho

Mizuho upgraded shares of Comstock Resources (NYSE:CRK) from an underperform rating to a neutral rating in a research note published on Monday morning, Marketbeat Ratings reports. They currently have $18.00 target price on the oil and gas producer’s stock, up from their previous target price of $10.00.

Other equities research analysts have also recently issued reports about the company. BMO Capital Markets upped their target price on Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Bank of America assumed coverage on Comstock Resources in a research report on Monday, October 28th. They set a “buy” rating and a $14.00 price objective for the company. Citigroup lifted their target price on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research report on Friday, December 6th. Siebert Williams Shank cut shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 target price for the company. in a report on Tuesday, October 15th. Finally, Truist Financial raised their price target on shares of Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $11.78.

Comstock Resources Trading Down 4.5 %

Shares of NYSE:CRK opened at $15.36 on Monday. The business’s 50 day simple moving average is $13.62 and its 200 day simple moving average is $11.65. Comstock Resources has a 1 year low of $7.07 and a 1 year high of $17.79. 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 company has a market capitalization of $4.49 billion, a P/E ratio of -85.33 and a beta of 0.57.

Comstock Resources (NYSE:CRK) last released its 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 company had revenue of $304.50 million for 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 revenue for the quarter was down 19.2% compared to the same quarter last year. During the same period last year, the company posted $0.04 earnings per share. On average, research analysts anticipate that Comstock Resources will post -0.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Comstock Resources

Hedge funds have recently made changes to their positions in the stock. Doliver Advisors LP increased its position in Comstock Resources by 3.9% during the 3rd quarter. Doliver Advisors LP now owns 26,455 shares of the oil and gas producer’s stock valued at $294,000 after purchasing an additional 988 shares during the period. XTX Topco Ltd increased its position in shares of Comstock Resources by 4.8% during the second quarter. XTX Topco Ltd now owns 28,791 shares of the oil and gas producer’s stock worth $299,000 after buying an additional 1,330 shares during the period. Sunbelt Securities Inc. raised its stake in Comstock Resources by 140.0% during the third quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock worth $27,000 after buying an additional 1,400 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Comstock Resources by 2.9% in the second quarter. The Manufacturers Life Insurance Company now owns 57,876 shares of the oil and gas producer’s stock valued at $601,000 after buying an additional 1,656 shares during the period. Finally, Arizona State Retirement System boosted its position in Comstock Resources by 6.9% during the second quarter. Arizona State Retirement System now owns 28,630 shares of the oil and gas producer’s stock valued at $297,000 after acquiring an additional 1,848 shares during the last quarter. 36.13% of the stock is currently owned by 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.