Comstock Resources (NYSE:CRK) Shares Down 3.8%

Comstock Resources, Inc. (NYSE:CRK - Get Free Report)'s stock price fell 3.8% on Thursday . The stock traded as low as $9.51 and last traded at $9.52. 1,126,919 shares were traded during mid-day trading, a decline of 76% from the average session volume of 4,692,593 shares. The stock had previously closed at $9.90.

Analysts Set New Price Targets

CRK has been the subject of several recent analyst reports. Truist Financial decreased 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 report on Tuesday, February 13th. Piper Sandler lowered their target price 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. StockNews.com upgraded Comstock Resources to a "sell" rating in a research report on Thursday, April 4th. Stifel Nicolaus decreased their price target 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. Finally, Mizuho cut their price objective on shares of Comstock Resources from $10.00 to $9.00 and set an "underperform" rating on the stock in a research note on Friday, March 15th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Comstock Resources currently has a consensus rating of "Hold" and a consensus target price of $10.00.

Comstock Resources Stock Down 3.3 %

The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.68 and a current ratio of 0.68. The stock's fifty day simple moving average is $8.36 and its two-hundred day simple moving average is $9.55. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 12.59 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 EPS 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%. The firm's revenue for the quarter was down 55.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.05 earnings per share. On average, sell-side analysts anticipate that Comstock Resources, Inc. will post 0.16 EPS for the current year.

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 shares were purchased at an average price of $8.04 per share, for a total transaction of $100,500,000.00. Following 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 document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.50% of the company's stock.

Institutional Trading of Comstock Resources

Several large investors have recently added to or reduced their stakes in CRK. Ballentine Partners LLC purchased a new position in Comstock Resources during the 1st quarter valued at about $138,000. Sanders Morris Harris LLC acquired a new stake in shares of Comstock Resources during the first quarter worth approximately $1,717,000. Chickasaw Capital Management LLC purchased a new position in Comstock Resources during the first quarter valued at approximately $232,000. GAMMA Investing LLC increased its stake in Comstock Resources by 428.9% in the 1st quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer's stock valued at $44,000 after buying an additional 3,869 shares during the period. Finally, Vanguard Group Inc. increased its stake in Comstock Resources by 0.3% in the 4th 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 during the period. 36.13% of the stock is owned by institutional investors and hedge funds.

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.