Comstock Resources (NYSE:CRK) Stock Rating Upgraded by Mizuho

Comstock Resources (NYSE:CRK) was upgraded by equities research analysts at Mizuho from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The brokerage currently has a $18.00 price target on the oil and gas producer’s stock, up from their previous price target of $10.00. Mizuho’s price target would suggest a potential upside of 7.14% from the stock’s current price.

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

Comstock Resources Trading Down 4.5 %

CRK opened at $16.80 on Monday. The firm has a 50 day simple moving average of $13.45 and a 200 day simple moving average of $11.59. Comstock Resources has a fifty-two week low of $7.07 and a fifty-two week high of $17.79. The company has a market cap of $4.91 billion, a price-to-earnings ratio of -93.33 and a beta of 0.57. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.60 and a quick ratio of 0.60.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). The company had revenue of $304.50 million during the quarter, compared to analyst estimates of $308.75 million. Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. 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 earned $0.04 EPS. On average, sell-side analysts anticipate that Comstock Resources will post -0.44 earnings per share for the current year.

Institutional Trading of Comstock Resources

A number of institutional investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. acquired a new stake in Comstock Resources in the 3rd quarter valued at $25,000. Sunbelt Securities Inc. raised its holdings 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 acquiring an additional 1,400 shares in the last quarter. Blue Trust Inc. acquired a new position in Comstock Resources during the second quarter valued at approximately $32,000. EverSource Wealth Advisors LLC boosted its position in Comstock Resources by 2,533.8% during the second quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 3,446 shares during the last quarter. Finally, Choreo LLC bought a new position in Comstock Resources in the second quarter valued at approximately $105,000. Institutional investors own 36.13% of the company’s stock.

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.