Comstock Resources (NYSE:CRK) PT Raised to $19.00 at Piper Sandler

Comstock Resources (NYSE:CRK – Get Rating) had its price target increased by equities researchers at Piper Sandler from $7.50 to $19.00 in a note issued to investors on Thursday, The Fly reports. The brokerage currently has a “neutral” rating on the oil and gas producer’s stock. Piper Sandler’s target price would suggest a potential upside of 17.50% from the company’s previous close.

CRK has been the subject of several other reports. StockNews.com initiated coverage on Comstock Resources in a report on Thursday, March 31st. They set a “hold” rating for the company. Mizuho boosted their target price on Comstock Resources from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, April 8th. Zacks Investment Research upgraded Comstock Resources from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Tuesday, March 29th. Finally, Truist Financial reduced their target price on Comstock Resources from $11.00 to $10.00 in a report on Friday, January 14th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $18.00.

Shares of NYSE:CRK opened at $16.17 on Thursday. The firm has a fifty day moving average of $11.50 and a two-hundred day moving average of $9.71. The firm has a market capitalization of $3.77 billion, a P/E ratio of -11.89 and a beta of 1.43. Comstock Resources has a 12-month low of $4.78 and a 12-month high of $18.55. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 2.58.

Comstock Resources (NYSE:CRK – Get Rating) last issued its earnings results on Tuesday, February 15th. The oil and gas producer reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The company had revenue of $655.38 million for the quarter, compared to analyst estimates of $454.35 million. Comstock Resources had a negative net margin of 13.06% and a positive return on equity of 34.73%. During the same period last year, the business earned $0.14 EPS. Equities research analysts expect that Comstock Resources will post 2.51 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Dark Forest Capital Management LP acquired a new position in shares of Comstock Resources during the third quarter valued at about $25,000. Counterpoint Mutual Funds LLC acquired a new position in shares of Comstock Resources during the fourth quarter valued at about $27,000. First Quadrant LLC CA acquired a new position in shares of Comstock Resources during the first quarter valued at about $28,000. Ellevest Inc. acquired a new position in shares of Comstock Resources during the fourth quarter valued at about $31,000. Finally, Steward Financial Group LLC acquired a new position in shares of Comstock Resources in the fourth quarter valued at $39,000. Institutional investors own 28.03% of the company’s stock.

About Comstock Resources (Get Rating)

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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