Comstock Resources (NYSE:CRK - Free Report) had its target price cut by Mizuho from $10.00 to $9.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an underperform rating on the oil and gas producer's stock.
A number of other analysts also recently commented on the stock. Piper Sandler dropped their target price on shares of Comstock Resources from $9.00 to $8.00 and set an overweight rating on the stock in a report on Thursday, March 7th. Siebert Williams Shank started coverage on Comstock Resources in a research report on Tuesday, December 19th. They set a hold rating and a $10.00 price objective for the company. Stifel Nicolaus reduced their price objective on Comstock Resources from $15.00 to $13.00 and set a buy rating for the company in a research note on Tuesday, January 23rd. Truist Financial cut their target price on Comstock Resources from $10.00 to $9.00 and set a hold rating on the stock in a research report on Tuesday, February 13th. 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, five have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $10.00.
Get Our Latest Analysis on Comstock Resources
Comstock Resources Price Performance
NYSE CRK traded down $0.28 on Monday, reaching $9.28. 3,312,654 shares of the stock traded hands, compared to its average volume of 4,704,927. Comstock Resources has a 12 month low of $7.07 and a 12 month high of $13.39. 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 firm's fifty day simple moving average is $8.40 and its 200 day simple moving average is $9.53. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 12.21 and a beta of 0.70.
Comstock Resources (NYSE:CRK - Get Free Report) last announced its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.06). Comstock Resources had a net margin of 13.49% and a return on equity of 5.65%. The firm 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 earned $1.05 EPS. The company's quarterly revenue was down 55.5% compared to the same quarter last year. As a group, research analysts predict that Comstock Resources will post 0.06 EPS for the current fiscal year.
Insider Buying and Selling
In other Comstock Resources news, major shareholder Star Exploration Corp Blue bought 12,500,000 shares of the company's stock in a transaction dated Monday, March 25th. The shares were bought at an average price of $8.04 per share, for a total transaction of $100,500,000.00. Following the acquisition, the insider now directly owns 194,821,429 shares of the company's stock, valued at $1,566,364,289.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.50% of the company's stock.
Hedge Funds Weigh In On Comstock Resources
A number of hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew 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 buying an additional 60,830 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of Comstock Resources by 280.7% during the 3rd quarter. Hsbc Holdings PLC now owns 409,406 shares of the oil and gas producer's stock worth $4,556,000 after acquiring an additional 301,863 shares in the last quarter. Barclays PLC increased its holdings in shares of Comstock Resources by 139.7% during the 3rd quarter. Barclays PLC now owns 326,486 shares of the oil and gas producer's stock valued at $3,600,000 after acquiring an additional 190,254 shares during the last quarter. KGH Ltd raised its stake in shares of Comstock Resources by 119.3% in the 3rd quarter. KGH Ltd now owns 8,586,000 shares of the oil and gas producer's stock valued at $94,704,000 after acquiring an additional 4,670,959 shares in the last quarter. Finally, Wealthsource Partners LLC acquired a new stake in Comstock Resources in the 4th quarter worth approximately $134,000. 36.13% of the stock is owned by institutional investors and hedge funds.
About Comstock Resources
(
Get Free Report)
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.
Further Reading
Before you consider Comstock Resources, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Comstock Resources wasn't on the list.
While Comstock Resources currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
