Comstock Resources (NYSE:CRK) Stock Price Up 6.9%

Comstock Resources, Inc. (NYSE:CRKGet Free Report)’s share price rose 6.9% during trading on Monday . The stock traded as high as $11.54 and last traded at $11.53. Approximately 2,293,179 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 4,102,069 shares. The stock had previously closed at $10.79.

Analyst Ratings Changes

Several research firms recently issued reports on CRK. The Goldman Sachs Group boosted their target price on shares of Comstock Resources from $9.00 to $10.00 and gave the company a “sell” rating in a research note on Tuesday, May 28th. Stifel Nicolaus dropped their target price on Comstock Resources from $14.00 to $13.50 and set a “buy” rating on the stock in a research report on Tuesday, April 23rd. Capital One Financial cut Comstock Resources from an “overweight” rating to an “equal weight” rating in a report on Wednesday, May 15th. Mizuho raised their price objective on Comstock Resources from $10.00 to $11.00 and gave the company an “underperform” rating in a report on Monday, May 13th. Finally, StockNews.com raised shares of Comstock Resources to a “sell” rating in a research note on Monday, April 29th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $10.25.

Read Our Latest Stock Analysis on Comstock Resources

Comstock Resources Stock Performance

The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.09. The stock’s fifty day simple moving average is $10.68 and its 200 day simple moving average is $9.26. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 49.05 and a beta of 0.60.

Comstock Resources (NYSE:CRKGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.05. Comstock Resources had a return on equity of 1.25% and a net margin of 4.27%. The business had revenue of $335.77 million for the quarter, compared to analyst estimates of $343.97 million. During the same quarter in the previous year, the firm earned $0.33 EPS. The company’s quarterly revenue was down 31.4% compared to the same quarter last year. As a group, analysts anticipate that Comstock Resources, Inc. will post -0.09 earnings per share for the current year.

Institutional Investors Weigh In On Comstock Resources

Institutional investors and hedge funds have recently modified their holdings of the company. ProShare Advisors LLC boosted its holdings in Comstock Resources by 7.4% in the first quarter. ProShare Advisors LLC now owns 18,536 shares of the oil and gas producer’s stock valued at $172,000 after purchasing an additional 1,276 shares during the period. Outfitter Financial LLC grew its position in shares of Comstock Resources by 5.0% during the fourth quarter. Outfitter Financial LLC now owns 34,300 shares of the oil and gas producer’s stock worth $304,000 after buying an additional 1,630 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Comstock Resources by 5.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,381 shares of the oil and gas producer’s stock valued at $366,000 after acquiring an additional 2,310 shares in the last quarter. SG Americas Securities LLC lifted its stake in Comstock Resources by 4.6% in the fourth quarter. SG Americas Securities LLC now owns 53,942 shares of the oil and gas producer’s stock worth $477,000 after acquiring an additional 2,389 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in Comstock Resources by 80.0% during the 3rd quarter. Federated Hermes Inc. now owns 5,500 shares of the oil and gas producer’s stock worth $61,000 after acquiring an additional 2,445 shares in the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Comstock Resources Company Profile

(Get Free Report)

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.

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