Comstock Resources (NYSE:CRK) Price Target Raised to $19.00 at Truist Financial

Comstock Resources (NYSE:CRK) had its price objective hoisted by Truist Financial from $11.00 to $19.00 in a research report released on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the oil and gas producer’s stock.

CRK has been the subject of several other reports. BMO Capital Markets boosted their price objective on shares of Comstock Resources from $10.00 to $11.00 and gave the company a “market perform” rating in a research note on Friday, October 4th. Citigroup upped their price target on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Mizuho raised Comstock Resources from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Siebert Williams Shank downgraded shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 target price for the company. in a research report on Tuesday, October 15th. Finally, Bank of America initiated coverage on shares of Comstock Resources in a research report on Monday, October 28th. They set a “buy” rating and a $14.00 price target on the stock. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $13.30.

Comstock Resources Stock Performance

NYSE CRK opened at $21.24 on Monday. The business’s 50-day moving average price is $16.29 and its 200 day moving average price is $12.66. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25. Comstock Resources has a twelve month low of $7.07 and a twelve month high of $21.32. The company has a market capitalization of $6.21 billion, a PE ratio of -117.99 and a beta of 0.51.

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

Insider Activity

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.62, for a total value of $156,200.00. Following the transaction, the director now owns 143,781 shares in the company, valued at $2,245,859.22. The trade was a 6.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders sold 38,000 shares of company stock worth $634,660. 2.00% of the stock is currently owned by company insiders.

Institutional Trading of Comstock Resources

A number of hedge funds and other institutional investors have recently modified their holdings of CRK. Harbor Capital Advisors Inc. purchased a new position in Comstock Resources in the third quarter valued at about $25,000. Sunbelt Securities Inc. boosted its stake in shares of Comstock Resources by 140.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock valued at $27,000 after buying an additional 1,400 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of 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 worth $34,000 after buying an additional 3,446 shares in the last quarter. Blue Trust Inc. grew its position in shares of Comstock Resources by 116.3% during the third quarter. Blue Trust Inc. now owns 6,715 shares of the oil and gas producer’s stock worth $70,000 after buying an additional 3,611 shares in the last quarter. Finally, Choreo LLC bought a new stake in shares of Comstock Resources in the second quarter worth $105,000. 36.13% of the stock is owned by hedge funds and other 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.