Comstock Resources (NYSE:CRK) Price Target Raised to $20.00

Comstock Resources (NYSE:CRK) had its target price lifted by Mizuho from $19.00 to $20.00 in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has a neutral rating on the oil and gas producer’s stock.

A number of other research analysts have also weighed in on the stock. Zacks Research lowered shares of Comstock Resources from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 16th. Morgan Stanley set a $15.00 price target on shares of Comstock Resources and gave the company an “equal weight” rating in a report on Wednesday, August 19th. Roth Capital reaffirmed a “neutral” rating on shares of Comstock Resources in a research report on Thursday, July 30th. Citigroup dropped their price objective on Comstock Resources from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, July 20th. Finally, The Goldman Sachs Group cut their price objective on Comstock Resources from $13.00 to $10.00 and set a “sell” rating for the company in a research report on Tuesday, June 30th. Eight equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $15.80.

Comstock Resources Trading Down 3.9%

NYSE:CRK opened at $14.94 on Tuesday. Comstock Resources has a 12 month low of $12.12 and a 12 month high of $28.10. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of 8.39 and a beta of 0.14. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.98. The company’s 50 day moving average is $13.84 and its 200-day moving average is $15.93.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $353.28 million during the quarter, compared to analysts’ expectations of $419.22 million. Comstock Resources had a net margin of 23.31% and a return on equity of 4.12%. Comstock Resources’s revenue for the quarter was down 24.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.13 earnings per share. Equities analysts anticipate that Comstock Resources will post 0.4 EPS for the current year.

Institutional Trading of Comstock Resources

Several institutional investors have recently modified their holdings of the company. Old West Investment Management LLC bought a new stake in shares of Comstock Resources in the 2nd quarter valued at approximately $4,104,000. BlackRock Inc. bought a new position in shares of Comstock Resources during the 2nd quarter worth approximately $176,583,000. GSA Capital Partners LLP bought a new position in shares of Comstock Resources during the 2nd quarter worth approximately $2,028,000. Liontrust Investment Partners LLP lifted its position in shares of Comstock Resources by 877.8% during the 1st quarter. Liontrust Investment Partners LLP now owns 128,938 shares of the oil and gas producer’s stock worth $2,718,000 after buying an additional 115,752 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Comstock Resources in the 1st quarter valued at $2,780,000. Institutional investors and hedge funds own 36.13% of the company’s stock.

About Comstock Resources

Comstock Resources, Inc is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties in the United States. The company focuses on generating long-term value through the efficient development of unconventional resource plays and conventional prospects. Its activities encompass drilling, completion and production operations, as well as the marketing of natural gas, natural gas liquids and crude oil.

Comstock holds a core position in the Haynesville Shale of Northwest Louisiana, one of the most active natural gas plays in North America, and has built a complementary portfolio in the Delaware Basin of West Texas.