Comstock Resources (NYSE:CRK) Price Target Lowered to $13.50 at Stifel Nicolaus

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

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

Comstock Resources Stock Up 1.1 %

Shares of Comstock Resources stock traded up $0.11 during trading on Tuesday, hitting $9.84. The company’s stock had a trading volume of 1,311,845 shares, compared to its average volume of 4,589,301. Comstock Resources has a 52 week low of $7.07 and a 52 week high of $13.39. The company has a market capitalization of $2.74 billion, a PE ratio of 13.00 and a beta of 0.70. The company 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 debt-to-equity ratio of 1.11, a quick ratio of 0.68 and a current ratio of 0.68.

Comstock Resources (NYSE:CRK) last announced its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). Comstock Resources had a net margin of 13.49% and a return on equity of 5.65%. The business had revenue of $410.58 million for the quarter, compared to the consensus estimate of $401.97 million. During the same period in the prior year, the business posted $1.05 EPS. Comstock Resources’s revenue for the quarter was down 55.5% on a year-over-year basis. Equities research analysts predict that Comstock Resources will post 0.06 earnings per share for the current year.

Insider Transactions at Comstock Resources

In related news, major shareholder Star Exploration Corp Blue bought 12,500,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was acquired at an average price of $8.04 per share, with a total value of $100,500,000.00. Following the transaction, the insider now owns 194,821,429 shares in the company, valued at approximately $1,566,364,289.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Comstock Resources

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

Comstock Resources Company Profile

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.