Comstock Resources (NYSE:CRK) PT Lowered to $13.50

Comstock Resources (NYSE:CRK) had its price objective reduced by equities research analysts at Stifel Nicolaus from $14.00 to $13.50 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas producer’s stock. Stifel Nicolaus’ target price suggests a potential upside of 37.20% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Truist Financial lowered their target price on shares of Comstock Resources from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Tuesday, February 13th. Mizuho dropped their price objective on shares of Comstock Resources from $10.00 to $9.00 and set an “underperform” rating for the company in a research note on Monday, April 15th. Pickering Energy Partners upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating in a report on Tuesday, January 9th. Piper Sandler lowered their target price on Comstock Resources from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Thursday, March 7th. Finally, The Goldman Sachs Group upped their price target on Comstock Resources from $8.00 to $9.00 and gave the company a “sell” rating in a research report on Tuesday, April 2nd. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $9.75.

Comstock Resources Price Performance

Shares of NYSE CRK traded up $0.11 during trading on Tuesday, hitting $9.84. The company had a trading volume of 1,311,845 shares, compared to its average volume of 4,589,301. Comstock Resources has a fifty-two week low of $7.07 and a fifty-two week high of $13.39. The stock has a fifty day simple moving average of $8.58 and a two-hundred day simple moving average of $9.48. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 13.00 and a beta of 0.70.

Comstock Resources (NYSE:CRK) last released its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.06). The firm had revenue of $410.58 million during the quarter, compared to analysts’ expectations of $401.97 million. Comstock Resources had a net margin of 13.49% and a return on equity of 5.65%. The business’s revenue was down 55.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.05 EPS. On average, research analysts expect that Comstock Resources will post 0.06 earnings per share for the current year.

Insider Buying and Selling at Comstock Resources

In other Comstock Resources news, major shareholder Star Exploration Corp Blue acquired 12,500,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was bought at an average cost of $8.04 per share, for a total transaction of $100,500,000.00. Following the completion of the transaction, the insider now owns 194,821,429 shares of the company’s stock, valued at approximately $1,566,364,289.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in Comstock Resources by 428.9% during the first quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer’s stock worth $44,000 after purchasing an additional 3,869 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of Comstock Resources by 2,161.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 4,929 shares of the oil and gas producer’s stock valued at $46,000 after buying an additional 4,711 shares during the period. Federated Hermes Inc. lifted its stake in Comstock Resources by 80.0% during the 3rd quarter. Federated Hermes Inc. now owns 5,500 shares of the oil and gas producer’s stock worth $61,000 after acquiring an additional 2,445 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Comstock Resources by 144.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,645 shares of the oil and gas producer’s stock valued at $73,000 after acquiring an additional 3,929 shares during the period. Finally, Steward Financial Group LLC boosted its holdings in Comstock Resources by 86.9% during the 3rd quarter. Steward Financial Group LLC now owns 6,776 shares of the oil and gas producer’s stock valued at $74,000 after acquiring an additional 3,151 shares during the period. Hedge funds and other institutional investors own 36.13% of the company’s stock.

About Comstock Resources

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. Its assets are located in the Haynesville and Bossier shales located in North Louisiana and East Texas. The company was incorporated in 1919 and is headquartered in Frisco, Texas.