Comstock Resources (NYSE:CRK) Trading Down 7.1%

Shares of Comstock Resources, Inc. (NYSE:CRKGet Rating) were down 7.1% during mid-day trading on Thursday . The company traded as low as $12.99 and last traded at $13.02. Approximately 99,185 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 3,277,643 shares. The stock had previously closed at $14.01.

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

The company has a debt-to-equity ratio of 2.82, a quick ratio of 0.29 and a current ratio of 0.29. The business has a fifty day simple moving average of $17.37 and a 200 day simple moving average of $12.12. The company has a market cap of $3.02 billion, a P/E ratio of -10.21 and a beta of 1.11.

Comstock Resources (NYSE:CRKGet Rating) last released its earnings results on Tuesday, May 3rd. The oil and gas producer reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. Comstock Resources had a positive return on equity of 45.27% and a negative net margin of 10.76%. The company had revenue of $524.84 million for the quarter, compared to the consensus estimate of $438.02 million. During the same quarter last year, the business posted $0.25 EPS. Comstock Resources’s quarterly revenue was up 54.1% compared to the same quarter last year. Equities research analysts expect that Comstock Resources, Inc. will post 3.59 EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. First Quadrant LLC CA bought a new position in Comstock Resources during the 1st quarter worth approximately $28,000. Dark Forest Capital Management LP bought a new stake in shares of Comstock Resources in the 3rd quarter worth approximately $25,000. Counterpoint Mutual Funds LLC bought a new stake in shares of Comstock Resources in the 4th quarter worth approximately $27,000. Ahrens Investment Partners LLC bought a new stake in shares of Comstock Resources in the 1st quarter worth approximately $48,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Comstock Resources in the 1st quarter worth approximately $50,000. 34.56% of the stock is currently owned by 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.

See Also

Receive News & Ratings for Comstock Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comstock Resources and related companies with MarketBeat.com's FREE daily email newsletter.