Comstock Resources (NYSE:CRK) Given New $10.00 Price Target at Mizuho

Comstock Resources (NYSE:CRK) had its target price decreased by Mizuho from $11.00 to $10.00 in a research note published on Monday, Benzinga reports. Mizuho currently has an underperform rating on the oil and gas producer’s stock.

Other research analysts have also recently issued reports about the stock. Wolfe Research began coverage on shares of Comstock Resources in a report on Thursday, July 18th. They issued a peer perform rating for the company. KeyCorp began coverage on shares of Comstock Resources in a report on Thursday, June 27th. They issued a sector weight rating for the company. The Goldman Sachs Group increased their target price on shares of Comstock Resources from $9.00 to $10.00 and gave the company a sell rating in a report on Tuesday, May 28th. Piper Sandler cut shares of Comstock Resources from a neutral rating to an underweight rating and dropped their target price for the company from $8.00 to $5.00 in a report on Thursday, August 15th. Finally, Truist Financial increased their target price on shares of Comstock Resources from $8.00 to $9.00 and gave the company a hold rating in a report on Monday, July 22nd. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $9.58.

Comstock Resources Price Performance

Shares of NYSE:CRK opened at $9.95 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.21. The company has a market cap of $2.91 billion, a P/E ratio of 45.23 and a beta of 0.48. Comstock Resources has a 52 week low of $7.07 and a 52 week high of $13.39. The company has a 50-day moving average price of $10.14 and a 200 day moving average price of $10.08.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). The firm had revenue of $246.80 million during the quarter, compared to analyst estimates of $296.02 million. Comstock Resources had a negative net margin of 1.48% and a negative return on equity of 1.38%. The business’s quarterly revenue was down 14.4% compared to the same quarter last year. Research analysts predict that Comstock Resources will post -0.33 earnings per share for the current year.

Insider Transactions at Comstock Resources

In other Comstock Resources news, major shareholder Star Exploration Corp Blue acquired 825,868 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was acquired at an average cost of $8.82 per share, with a total value of $7,284,155.76. Following the purchase, the insider now directly owns 197,298,165 shares in the company, valued at approximately $1,740,169,815.30. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, major shareholder Drilling L.P. Arkoma bought 1,044,200 shares of the stock in a transaction on Tuesday, August 20th. The stock was purchased at an average cost of $10.93 per share, with a total value of $11,413,106.00. Following the purchase, the insider now owns 204,495,146 shares of the company’s stock, valued at $2,235,131,945.78. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Star Exploration Corp Blue bought 825,868 shares of the stock in a transaction on Wednesday, August 7th. The stock was purchased at an average cost of $8.82 per share, with a total value of $7,284,155.76. Following the completion of the purchase, the insider now directly owns 197,298,165 shares in the company, valued at approximately $1,740,169,815.30. The disclosure for this purchase can be found here. Insiders acquired a total of 6,712,733 shares of company stock valued at $67,816,851 in the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Comstock Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Comstock Resources by 10.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,015,403 shares of the oil and gas producer’s stock valued at $8,986,000 after purchasing an additional 93,140 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Comstock Resources by 106.1% in the 4th quarter. BNP Paribas Financial Markets now owns 310,289 shares of the oil and gas producer’s stock valued at $2,746,000 after purchasing an additional 159,757 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Comstock Resources in the 4th quarter valued at $662,000. Dimensional Fund Advisors LP boosted its holdings in shares of Comstock Resources by 29.1% in the 4th 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 purchasing an additional 1,833,302 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Comstock Resources by 2.4% in the 4th quarter. Principal Financial Group Inc. now owns 594,021 shares of the oil and gas producer’s stock valued at $5,257,000 after purchasing an additional 13,753 shares during the last quarter. 36.13% of the stock is owned by hedge funds and other institutional investors.

About Comstock Resources

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.