Comstock Resources, Inc. (NYSE:CRK) Receives $10.00 Consensus Target Price from Analysts

Comstock Resources, Inc. (NYSE:CRK) has earned a consensus recommendation of “Hold” from the nine brokerages that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $10.00.

A number of analysts recently commented on CRK shares. The Goldman Sachs Group upped their price objective on Comstock Resources from $8.00 to $9.00 and gave the company a “sell” rating in a research report on Tuesday, April 2nd. 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. StockNews.com upgraded shares of Comstock Resources to a “sell” rating in a research report on Thursday, April 4th. Siebert Williams Shank assumed coverage on shares of Comstock Resources in a report on Tuesday, December 19th. They set a “hold” rating and a $10.00 target price for the company. Finally, Mizuho dropped their price target on shares of Comstock Resources from $10.00 to $9.00 and set an “underperform” rating on the stock in a research note on Monday.

Comstock Resources Stock Performance

Shares of CRK opened at $9.11 on Wednesday. Comstock Resources has a 12 month low of $7.07 and a 12 month high of $13.39. The business’s fifty day simple moving average is $8.46 and its two-hundred day simple moving average is $9.50. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.11. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 11.99 and a beta of 0.70.

Comstock Resources (NYSE:CRK) last released its quarterly earnings data 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). Comstock Resources had a return on equity of 5.65% and a net margin of 13.49%. The business had revenue of $410.58 million during the quarter, compared to the consensus estimate of $401.97 million. During the same quarter in the previous year, the business posted $1.05 earnings per share. Comstock Resources’s quarterly revenue was down 55.5% compared to the same quarter last year. Research analysts anticipate that Comstock Resources will post 0.06 earnings per share for the current fiscal year.

Insider Transactions at Comstock Resources

In other Comstock Resources news, major shareholder Star Exploration Corp Blue bought 12,500,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were bought at an average price of $8.04 per share, with a total value of $100,500,000.00. Following the purchase, the insider now owns 194,821,429 shares of the company’s stock, valued at $1,566,364,289.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Comstock Resources

Several institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its position in shares of Comstock Resources by 214.0% during the second quarter. PNC Financial Services Group Inc. now owns 2,716 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,851 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Comstock Resources by 428.9% during the 1st quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer’s stock worth $44,000 after acquiring an additional 3,869 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Comstock Resources by 80.0% during the 3rd quarter. Federated Hermes Inc. now owns 5,500 shares of the oil and gas producer’s stock valued at $61,000 after acquiring an additional 2,445 shares during the last quarter. Steward Financial Group LLC grew its holdings in shares of Comstock Resources by 86.9% in the third quarter. Steward Financial Group LLC now owns 6,776 shares of the oil and gas producer’s stock valued at $74,000 after purchasing an additional 3,151 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new stake in Comstock Resources in the third quarter worth $80,000. 36.13% of the stock is owned by hedge funds and other institutional investors.

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.