Comstock Resources, Inc. (NYSE:CRK) Receives $10.00 Average Price Target from Analysts

Shares of Comstock Resources, Inc. (NYSE:CRK - Get Free Report) have been assigned a consensus rating of "Hold" from the nine ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $10.00.

Several equities research analysts have recently weighed in on CRK shares. Johnson Rice cut Comstock Resources from an "accumulate" rating to a "hold" rating in a research report on Thursday, December 14th. Pickering Energy Partners raised Comstock Resources from an "underperform" rating to a "neutral" rating in a research report on Tuesday, January 9th. Siebert Williams Shank started coverage on Comstock Resources in a research report on Tuesday, December 19th. They issued a "hold" rating and a $10.00 price objective for the company. The Goldman Sachs Group increased their price objective on Comstock Resources from $8.00 to $9.00 and gave the company a "sell" rating in a research report on Tuesday, April 2nd. Finally, Truist Financial reduced their price objective on Comstock Resources from $10.00 to $9.00 and set a "hold" rating for the company in a research report on Tuesday, February 13th.

Insider Buying and Selling

In related news, major shareholder Star Exploration Corp Blue acquired 12,500,000 shares of the business's stock in a transaction on Monday, March 25th. The stock was bought at an average cost of $8.04 per share, with a total value of $100,500,000.00. Following the completion of the acquisition, the insider now owns 194,821,429 shares in the company, valued at $1,566,364,289.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Comstock Resources by 2.8% in the second quarter. BlackRock Inc. now owns 14,505,907 shares of the oil and gas producer's stock valued at $168,269,000 after buying an additional 393,075 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Comstock Resources by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 10,829,100 shares of the oil and gas producer's stock valued at $95,838,000 after buying an additional 34,231 shares in the last quarter. State Street Corp increased its stake in shares of Comstock Resources by 19.3% in the first quarter. State Street Corp now owns 10,279,079 shares of the oil and gas producer's stock valued at $110,911,000 after buying an additional 1,660,068 shares in the last quarter. KGH Ltd increased its stake in shares of Comstock Resources by 119.3% in the third quarter. KGH Ltd now owns 8,586,000 shares of the oil and gas producer's stock valued at $94,704,000 after buying an additional 4,670,959 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Comstock Resources by 29.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,139,351 shares of the oil and gas producer's stock valued at $72,035,000 after buying an additional 1,833,302 shares in the last quarter. 36.13% of the stock is owned by institutional investors.

Comstock Resources Price Performance

Comstock Resources stock traded up $0.25 during midday trading on Wednesday, hitting $9.90. The company's stock had a trading volume of 4,845,675 shares, compared to its average volume of 4,745,945. 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 stock's 50-day moving average price is $8.32 and its 200-day moving average price is $9.55. Comstock Resources has a 12 month low of $7.07 and a 12 month high of $13.39. The company has a market capitalization of $2.76 billion, a PE ratio of 13.02 and a beta of 0.70.

Comstock Resources (NYSE:CRK - Get Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.16 by ($0.06). The firm had revenue of $410.58 million for 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%. Comstock Resources's quarterly revenue was down 55.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.05 earnings per share. Analysts anticipate that Comstock Resources will post 0.16 earnings per share for the current fiscal year.

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.