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

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

CRK has been the topic of several other research reports. The Goldman Sachs Group upped their target price 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. Truist Financial cut their target price on shares of Comstock Resources from $10.00 to $9.00 and set a “hold” rating for the company in a research note on Tuesday, February 13th. StockNews.com upgraded Comstock Resources to a “sell” rating in a research report on Thursday, April 4th. Mizuho cut 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. Finally, Pickering Energy Partners raised Comstock Resources from an “underperform” rating to a “neutral” rating in a research note on Tuesday, January 9th. 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $9.75.

Comstock Resources Stock Up 3.8 %

Shares of CRK opened at $10.15 on Tuesday. 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 company has a 50-day moving average price of $8.67 and a two-hundred day moving average price of $9.46. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 13.21 and a beta of 0.70. Comstock Resources has a 12 month low of $7.07 and a 12 month high of $13.39.

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

Insider Buying and Selling at Comstock Resources

In other 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 purchased 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 directly owns 194,821,429 shares in the company, valued at $1,566,364,289.16. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Comstock Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Comstock Resources by 7.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 922,263 shares of the oil and gas producer’s stock valued at $10,173,000 after purchasing an additional 60,830 shares during the period. Hsbc Holdings PLC lifted its stake in Comstock Resources by 280.7% in the third quarter. Hsbc Holdings PLC now owns 409,406 shares of the oil and gas producer’s stock valued at $4,556,000 after buying an additional 301,863 shares during the period. Barclays PLC boosted its holdings in Comstock Resources by 139.7% during the third quarter. Barclays PLC now owns 326,486 shares of the oil and gas producer’s stock worth $3,600,000 after buying an additional 190,254 shares during the last quarter. KGH Ltd boosted its holdings in Comstock Resources by 119.3% during the third quarter. KGH Ltd now owns 8,586,000 shares of the oil and gas producer’s stock worth $94,704,000 after buying an additional 4,670,959 shares during the last quarter. Finally, Wealthsource Partners LLC acquired a new position in shares of Comstock Resources during the 4th quarter worth about $134,000. 36.13% of the stock is owned by institutional investors.

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.