Comstock Resources (NYSE:CRK) Price Target Raised to $11.00

Comstock Resources (NYSE:CRK) had its price objective hoisted by BMO Capital Markets from $10.00 to $11.00 in a research report report published on Friday morning, Benzinga reports. They currently have a market perform rating on the oil and gas producer’s stock.

Other equities analysts have also recently issued reports about the company. Mizuho decreased their target price on Comstock Resources from $11.00 to $10.00 and set an underperform rating on the stock in a report on Monday, September 16th. Piper Sandler downgraded Comstock Resources from a neutral rating to an underweight rating and decreased their target price for the company from $8.00 to $5.00 in a research note on Thursday, August 15th. Wolfe Research began coverage on shares of Comstock Resources in a report on Thursday, July 18th. They set a peer perform rating on the stock. Truist Financial boosted their price objective on Comstock Resources from $9.00 to $10.00 and gave the company a hold rating in a research report on Monday, September 30th. Finally, KeyCorp assumed coverage on Comstock Resources in a report on Thursday, June 27th. They set a sector weight rating on the stock. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $9.93.

Comstock Resources Price Performance

Comstock Resources stock opened at $12.09 on Friday. The business has a fifty day moving average of $10.35 and a two-hundred day moving average of $10.37. The company has a market cap of $3.53 billion, a P/E ratio of 54.93 and a beta of 0.47. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.59. Comstock Resources has a one year low of $7.07 and a one year high of $13.39.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported ($0.20) earnings per share 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 analysts’ expectations of $296.02 million. Comstock Resources had a negative net margin of 1.48% and a negative return on equity of 1.38%. Comstock Resources’s quarterly revenue was down 14.4% on a year-over-year basis. As a group, analysts predict that Comstock Resources will post -0.37 earnings per share for the current fiscal year.

Insider Activity at Comstock Resources

In other Comstock Resources news, major shareholder Drilling L.P. Arkoma bought 825,868 shares of the business’s stock in a transaction on Friday, August 9th. The stock was purchased at an average price of $9.76 per share, for a total transaction of $8,060,471.68. Following the completion of the transaction, the insider now directly owns 198,949,901 shares of the company’s stock, valued at $1,941,751,033.76. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Comstock Resources news, major shareholder Drilling L.P. Arkoma bought 825,868 shares of Comstock Resources stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average price of $9.76 per share, with a total value of $8,060,471.68. Following the acquisition, the insider now owns 198,949,901 shares in the company, valued at approximately $1,941,751,033.76. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Star Exploration Corp Blue purchased 825,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $8.16 per share, with a total value of $6,732,000.00. Following the completion of the acquisition, the insider now directly owns 195,646,429 shares in the company, valued at $1,596,474,860.64. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 6,712,733 shares of company stock valued at $67,816,851. 1.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Doliver Advisors LP lifted its position in shares of Comstock Resources by 3.9% during the 3rd quarter. Doliver Advisors LP now owns 26,455 shares of the oil and gas producer’s stock valued at $294,000 after buying an additional 988 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Comstock Resources by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 18,536 shares of the oil and gas producer’s stock worth $172,000 after buying an additional 1,276 shares during the period. GAMMA Investing LLC grew its holdings in Comstock Resources by 27.5% during the 2nd quarter. GAMMA Investing LLC now owns 6,083 shares of the oil and gas producer’s stock worth $63,000 after acquiring an additional 1,312 shares in the last quarter. XTX Topco Ltd lifted its holdings in Comstock Resources by 4.8% during the second quarter. XTX Topco Ltd now owns 28,791 shares of the oil and gas producer’s stock worth $299,000 after buying an additional 1,330 shares during the period. Finally, Simplicity Wealth LLC lifted its stake in shares of Comstock Resources by 5.7% during the 2nd quarter. Simplicity Wealth LLC now owns 28,544 shares of the oil and gas producer’s stock worth $296,000 after purchasing an additional 1,552 shares during the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.

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.