Comstock Resources, Inc. (NYSE:CRK - Get Free Report) traded up 2.8% during trading on Wednesday . The company traded as high as $9.91 and last traded at $9.91. 2,365,042 shares were traded during trading, a decline of 50% from the average session volume of 4,706,636 shares. The stock had previously closed at $9.64.
Analyst Ratings Changes
A number of research analysts have recently commented on the stock. Piper Sandler reduced their target price on shares of Comstock Resources from $9.00 to $8.00 and set an "overweight" rating on the stock in a research report on Thursday, March 7th. Truist Financial reduced their target price on shares of Comstock Resources from $10.00 to $9.00 and set a "hold" rating on the stock in a research report on Tuesday, February 13th. Siebert Williams Shank assumed coverage on shares of Comstock Resources in a research report on Tuesday, December 19th. They set a "hold" rating and a $10.00 target price on the stock. Johnson Rice cut shares of Comstock Resources from an "accumulate" rating to a "hold" rating in a research report on Thursday, December 14th. Finally, Mizuho reduced their target price on shares of Comstock Resources from $10.00 to $9.00 and set an "underperform" rating on the stock in a research report on Friday, March 15th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $10.00.
Read Our Latest Research Report on CRK
Comstock Resources Trading Up 2.6 %
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 business's 50 day moving average is $8.32 and its 200-day moving average is $9.55. The firm has a market cap of $2.76 billion, a P/E ratio of 13.02 and a beta of 0.70.
Comstock Resources (NYSE:CRK - Get Free Report) last released 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 business had revenue of $410.58 million for the quarter, compared to the consensus estimate of $401.97 million. During the same quarter in the previous year, the firm earned $1.05 EPS. The firm's revenue for the quarter was down 55.5% on a year-over-year basis. As a group, analysts forecast that Comstock Resources, Inc. will post 0.16 earnings per share for the current fiscal year.
Insider Buying and Selling at Comstock Resources
In other Comstock Resources news, major shareholder Star Exploration Corp Blue bought 12,500,000 shares of the stock in a transaction on Monday, March 25th. The stock was purchased 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 directly owns 194,821,429 shares in the company, valued at $1,566,364,289.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is owned by insiders.
Hedge Funds Weigh In On Comstock Resources
Several institutional investors have recently modified their holdings of the company. Chickasaw Capital Management LLC bought a new position in shares of Comstock Resources during the first quarter worth about $232,000. GAMMA Investing LLC lifted its holdings in Comstock Resources by 428.9% in the first quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer's stock worth $44,000 after purchasing an additional 3,869 shares during the period. Vanguard Group Inc. lifted its holdings in 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 worth $95,838,000 after purchasing an additional 34,231 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Comstock Resources by 17.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,466,851 shares of the oil and gas producer's stock worth $12,982,000 after purchasing an additional 222,803 shares during the period. Finally, Virtu Financial LLC lifted its holdings in Comstock Resources by 537.8% in the fourth quarter. Virtu Financial LLC now owns 64,197 shares of the oil and gas producer's stock worth $568,000 after purchasing an additional 54,132 shares during the period. Institutional investors own 36.13% of the company's stock.
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.
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