Comstock Resources (NYSE:CRK) Price Target Lowered to $9.00 at Mizuho

Comstock Resources (NYSE:CRK) had its price target reduced by Mizuho from $10.00 to $9.00 in a research report sent to investors on Monday morning, Benzinga reports. Mizuho currently has an underperform rating on the oil and gas producer’s stock.

Other analysts have also recently issued reports about the company. Stifel Nicolaus reduced their price target on Comstock Resources from $15.00 to $13.00 and set a buy rating for the company in a report on Tuesday, January 23rd. The Goldman Sachs Group upped their target price on Comstock Resources from $8.00 to $9.00 and gave the company a sell rating in a report on Tuesday, April 2nd. StockNews.com raised Comstock Resources to a sell rating in a research note on Thursday, April 4th. Piper Sandler lowered their price objective on shares of Comstock Resources from $9.00 to $8.00 and set an overweight rating on the stock in a research note on Thursday, March 7th. Finally, 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 report on Tuesday, February 13th. 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. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $10.00.

Comstock Resources Stock Up 0.8 %

CRK opened at $9.19 on Monday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.68 and a quick ratio of 0.68. The business has a 50 day simple moving average of $8.50 and a 200-day simple moving average of $9.50. The stock has a market capitalization of $2.56 billion, a P/E ratio of 12.09 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 quarterly 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). The business had revenue of $410.58 million during the quarter, compared to analyst estimates of $401.97 million. Comstock Resources had a net margin of 13.49% and a return on equity of 5.65%. The firm’s quarterly revenue was down 55.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.05 earnings per share. On average, equities analysts anticipate that Comstock Resources will post 0.06 earnings per share for the current fiscal year.

Insider Activity at Comstock Resources

In related news, major shareholder Star Exploration Corp Blue acquired 12,500,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were acquired at an average price of $8.04 per share, with a total value 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 purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Comstock Resources

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in 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 purchasing an additional 393,075 shares during the period. Vanguard Group Inc. raised its stake in Comstock Resources by 0.3% during 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. State Street Corp raised its stake in Comstock Resources by 19.3% during the first quarter. State Street Corp now owns 10,279,079 shares of the oil and gas producer’s stock worth $110,911,000 after purchasing an additional 1,660,068 shares during the period. KGH Ltd raised its stake 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 purchasing an additional 4,670,959 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Comstock Resources by 29.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,139,351 shares of the oil and gas producer’s stock worth $72,035,000 after purchasing an additional 1,833,302 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.