Comstock Resources (NYSE:CRK) Price Target Cut to $13.50

Comstock Resources (NYSE:CRK) had its target price dropped by stock analysts at Stifel Nicolaus from $14.00 to $13.50 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the oil and gas producer’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 33.00% from the company’s current price.

Other analysts also recently issued research reports about the stock. The Goldman Sachs Group boosted their price objective on shares of Comstock Resources from $8.00 to $9.00 and gave the stock a “sell” rating in a report on Tuesday, April 2nd. StockNews.com raised Comstock Resources to a “sell” rating in a research note on Thursday, April 4th. Mizuho reduced their price objective on Comstock Resources from $10.00 to $9.00 and set an “underperform” rating for the company in a report on Monday, April 15th. Truist Financial lowered their target price on Comstock Resources from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Tuesday, February 13th. Finally, Pickering Energy Partners raised Comstock Resources from an “underperform” rating to a “neutral” rating in a research note on Tuesday, January 9th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Comstock Resources presently has a consensus rating of “Hold” and a consensus target price of $9.75.

Comstock Resources Stock Performance

NYSE CRK opened at $10.15 on Tuesday. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 13.21 and a beta of 0.70. The business’s 50 day moving average is $8.67 and its two-hundred day moving average is $9.46. Comstock Resources has a 12-month low of $7.07 and a 12-month high of $13.39. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.11.

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

Insider Activity at Comstock Resources

In other news, major shareholder Star Exploration Corp Blue bought 12,500,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average price of $8.04 per share, with a total value of $100,500,000.00. Following the purchase, 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 is accessible through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Outfitter Financial LLC grew its position in shares of Comstock Resources by 5.0% in the fourth quarter. Outfitter Financial LLC now owns 34,300 shares of the oil and gas producer’s stock valued at $304,000 after purchasing an additional 1,630 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Comstock Resources by 5.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,381 shares of the oil and gas producer’s stock worth $366,000 after buying an additional 2,310 shares during the last quarter. SG Americas Securities LLC grew its holdings in Comstock Resources by 4.6% in the 4th quarter. SG Americas Securities LLC now owns 53,942 shares of the oil and gas producer’s stock valued at $477,000 after buying an additional 2,389 shares during the period. Federated Hermes Inc. increased its stake in shares of 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 valued at $61,000 after acquiring an additional 2,445 shares during the last quarter. Finally, Pittenger & Anderson Inc. increased its stake in shares of Comstock Resources by 25.0% during the 4th quarter. Pittenger & Anderson Inc. now owns 12,500 shares of the oil and gas producer’s stock valued at $111,000 after acquiring an additional 2,500 shares during the last quarter. 36.13% of the stock is currently owned by institutional investors and hedge funds.

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.