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

Comstock Resources (NYSE:CRK) had its price objective reduced by Stifel Nicolaus from $14.00 to $13.50 in a report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

Several other equities research analysts have also weighed in on the company. The Goldman Sachs Group lifted 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. Pickering Energy Partners upgraded Comstock Resources from an underperform rating to a neutral rating in a research report on Tuesday, January 9th. Piper Sandler dropped their price target on Comstock Resources from $9.00 to $8.00 and set an overweight rating on the stock in a research report on Thursday, March 7th. Mizuho dropped their price target on Comstock Resources from $10.00 to $9.00 and set an underperform rating on the stock in a research report on Monday, April 15th. Finally, StockNews.com upgraded Comstock Resources to a sell rating in a research report on Thursday, April 4th. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Comstock Resources has a consensus rating of Hold and an average price target of $9.75.

Comstock Resources Price Performance

Shares of CRK stock opened at $9.77 on Tuesday. The firm has a market cap of $2.72 billion, a P/E ratio of 12.86 and a beta of 0.70. Comstock Resources has a fifty-two week low of $7.07 and a fifty-two week high of $13.39. The business’s 50 day moving average price is $8.62 and its 200-day moving average price is $9.47. 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 issued its quarterly earnings data 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). The business had revenue of $410.58 million during the quarter, compared to the consensus estimate of $401.97 million. Comstock Resources had a return on equity of 5.65% and a net margin of 13.49%. Comstock Resources’s quarterly revenue was down 55.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.05 earnings per share. On average, equities research analysts anticipate that Comstock Resources will post 0.06 earnings per share for the current year.

Insider Buying and Selling at Comstock Resources

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CRK. SG Americas Securities LLC purchased a new position in shares of Comstock Resources in the third quarter worth $569,000. Exchange Traded Concepts LLC purchased a new position in shares of Comstock Resources in the third quarter worth $676,000. Hennessy Advisors Inc. raised its stake in shares of Comstock Resources by 67.5% in the third quarter. Hennessy Advisors Inc. now owns 67,000 shares of the oil and gas producer’s stock worth $739,000 after purchasing an additional 27,000 shares during the last quarter. Steward Financial Group LLC raised its stake in shares of Comstock Resources by 86.9% in the third quarter. Steward Financial Group LLC now owns 6,776 shares of the oil and gas producer’s stock worth $74,000 after purchasing an additional 3,151 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Comstock Resources by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 3,295,391 shares of the oil and gas producer’s stock worth $36,348,000 after purchasing an additional 41,260 shares during the last quarter. 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.