Comstock Resources (NYSE:CRK) Shares Gap Up – What’s Next?

Comstock Resources, Inc. (NYSE:CRK)’s share price gapped up before the market opened on Monday . The stock had previously closed at $19.61, but opened at $20.80. Comstock Resources shares last traded at $20.19, with a volume of 497,389 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have commented on CRK. UBS Group set a $17.00 target price on shares of Comstock Resources in a research report on Friday, February 13th. Bank of America downgraded Comstock Resources from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $27.00 to $24.00 in a research note on Friday, January 16th. Piper Sandler reduced their price objective on Comstock Resources from $9.00 to $8.00 and set an “underweight” rating for the company in a research report on Tuesday, November 18th. Citigroup reissued a “neutral” rating and issued a $25.00 target price (up from $24.00) on shares of Comstock Resources in a report on Wednesday, January 14th. Finally, Mizuho boosted their price target on Comstock Resources from $21.00 to $29.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Comstock Resources has an average rating of “Reduce” and a consensus target price of $20.11.

Comstock Resources Stock Up 2.0%

The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.95. The company has a fifty day simple moving average of $21.68 and a 200-day simple moving average of $20.59. The firm has a market cap of $5.88 billion, a P/E ratio of 14.20 and a beta of 0.40.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Wednesday, February 11th. The oil and gas producer reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. The firm had revenue of $787.32 million for the quarter, compared to analysts’ expectations of $504.66 million. Comstock Resources had a return on equity of 6.30% and a net margin of 17.80%.The business’s quarterly revenue was up 115.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 EPS. On average, equities analysts anticipate that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

Institutional Trading of Comstock Resources

Institutional investors and hedge funds have recently modified their holdings of the company. CreativeOne Wealth LLC lifted its stake in shares of Comstock Resources by 3.7% during the 3rd quarter. CreativeOne Wealth LLC now owns 13,931 shares of the oil and gas producer’s stock valued at $276,000 after buying an additional 500 shares in the last quarter. Natixis Advisors LLC raised its holdings in Comstock Resources by 2.0% during the fourth quarter. Natixis Advisors LLC now owns 29,703 shares of the oil and gas producer’s stock valued at $689,000 after acquiring an additional 572 shares during the period. Carrera Capital Advisors lifted its position in shares of Comstock Resources by 0.7% in the fourth quarter. Carrera Capital Advisors now owns 82,910 shares of the oil and gas producer’s stock valued at $1,922,000 after acquiring an additional 606 shares in the last quarter. Uhlmann Price Securities LLC boosted its stake in shares of Comstock Resources by 2.4% in the third quarter. Uhlmann Price Securities LLC now owns 27,653 shares of the oil and gas producer’s stock worth $548,000 after acquiring an additional 650 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Comstock Resources by 12.1% during the fourth quarter. GAMMA Investing LLC now owns 6,303 shares of the oil and gas producer’s stock worth $146,000 after purchasing an additional 679 shares in the last quarter. 36.13% of the stock is currently owned by institutional investors.

Comstock Resources Company Profile

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.