Comstock Resources (NYSE:CRK) Stock Price Down 3.3%

Shares of Comstock Resources, Inc. (NYSE:CRKGet Rating) traded down 3.3% during mid-day trading on Friday . The stock traded as low as $15.69 and last traded at $15.79. 23,616 shares changed hands during trading, a decline of 99% from the average session volume of 3,139,955 shares. The stock had previously closed at $16.33.

Several equities analysts recently issued reports on the stock. Mizuho lifted their price target on shares of Comstock Resources from $20.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, May 31st. Piper Sandler downgraded shares of Comstock Resources from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $19.00 to $16.00 in a research note on Wednesday, May 18th. Truist Financial boosted their target price on shares of Comstock Resources from $14.00 to $19.00 in a research note on Thursday, April 21st. Finally, StockNews.com initiated coverage on shares of Comstock Resources in a research note on Thursday, March 31st. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Comstock Resources presently has a consensus rating of “Hold” and a consensus target price of $19.33.

The stock has a market cap of $3.50 billion, a price-to-earnings ratio of -11.67 and a beta of 1.11. The stock’s fifty day moving average is $17.37 and its 200-day moving average is $11.87. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 2.82.

Comstock Resources (NYSE:CRKGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The oil and gas producer reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. The business had revenue of $524.84 million for the quarter, compared to analyst estimates of $438.02 million. Comstock Resources had a negative net margin of 10.76% and a positive return on equity of 45.27%. The firm’s revenue for the quarter was up 54.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 earnings per share. As a group, equities research analysts predict that Comstock Resources, Inc. will post 3.59 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. CastleKnight Management LP bought a new stake in Comstock Resources during the fourth quarter worth $1,409,000. Fractal Investments LLC bought a new position in shares of Comstock Resources in the fourth quarter valued at about $211,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Comstock Resources by 83.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 496,335 shares of the oil and gas producer’s stock valued at $4,015,000 after purchasing an additional 225,990 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Comstock Resources by 57.7% in the third quarter. Dimensional Fund Advisors LP now owns 3,672,448 shares of the oil and gas producer’s stock valued at $38,010,000 after purchasing an additional 1,344,266 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in shares of Comstock Resources in the third quarter valued at about $656,000. 34.56% of the stock is currently owned by hedge funds and other institutional investors.

About Comstock Resources (NYSE:CRK)

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of oil and natural gas primarily in North Louisiana and East Texas, the United States. As of December 31, 2021, the company had 6.1 trillion cubic feet of the natural gas equivalent of proved reserves.

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