Comstock Resources (NYSE:CRK) Shares Down 4.8%

Shares of Comstock Resources, Inc. (NYSE:CRKGet Rating) fell 4.8% on Tuesday . The company traded as low as $16.83 and last traded at $17.20. 31,821 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 3,950,002 shares. The stock had previously closed at $18.06.

A number of research firms have weighed in on CRK. Zacks Investment Research upgraded Comstock Resources from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Tuesday, March 29th. Mizuho lifted their target price on Comstock Resources from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, April 8th. StockNews.com started coverage on Comstock Resources in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Truist Financial reduced their target price on Comstock Resources from $11.00 to $10.00 in a research note on Friday, January 14th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $14.67.

The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of -13.28 and a beta of 1.43. The company has a fifty day moving average of $10.73 and a two-hundred day moving average of $9.52. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.50 and a current ratio of 0.50.

Comstock Resources (NYSE:CRKGet Rating) last released its quarterly earnings results on Tuesday, February 15th. The oil and gas producer reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.03). The firm had revenue of $655.38 million for the quarter, compared to analyst estimates of $454.35 million. Comstock Resources had a positive return on equity of 34.73% and a negative net margin of 13.06%. During the same period in the previous year, the business posted $0.14 earnings per share. Equities analysts forecast that Comstock Resources, Inc. will post 2.51 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. Wedge Capital Management L L P NC lifted its holdings in Comstock Resources by 37.5% during the 1st quarter. Wedge Capital Management L L P NC now owns 13,988 shares of the oil and gas producer’s stock worth $183,000 after purchasing an additional 3,816 shares during the last quarter. THRC Management LLC acquired a new position in Comstock Resources in the 4th quarter valued at $6,068,000. Barclays PLC raised its holdings in Comstock Resources by 124.0% in the 4th quarter. Barclays PLC now owns 129,183 shares of the oil and gas producer’s stock valued at $1,045,000 after acquiring an additional 71,500 shares in the last quarter. BlackRock Inc. raised its holdings in Comstock Resources by 5.6% in the 4th quarter. BlackRock Inc. now owns 6,289,627 shares of the oil and gas producer’s stock valued at $50,883,000 after acquiring an additional 334,438 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Comstock Resources by 70.1% in the 4th quarter. Wells Fargo & Company MN now owns 131,635 shares of the oil and gas producer’s stock valued at $1,065,000 after acquiring an additional 54,233 shares in the last quarter. 28.03% of the stock is owned by institutional investors and hedge funds.

Comstock Resources Company Profile (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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