Comstock Resources (NYSE:CRK) Shares Up 5.7%

Comstock Resources, Inc. (NYSE:CRK) shares shot up 5.7% on Monday . The stock traded as high as $10.55 and last traded at $10.55. Approximately 410,475 shares changed hands during trading, a decline of 91% from the average daily volume of 4,452,895 shares. The stock had previously closed at $9.98.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CRK shares. Stifel Nicolaus decreased their price objective on shares of Comstock Resources from $14.00 to $13.50 and set a “buy” rating on the stock in a research report on Tuesday, April 23rd. Truist Financial lowered their price target on 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 cut their price objective 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. Mizuho reduced their target price on Comstock Resources from $10.00 to $9.00 and set an “underperform” rating on the stock in a research note on Monday, April 15th. Finally, StockNews.com upgraded shares of Comstock Resources to a “sell” rating in a report on Monday, April 29th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Comstock Resources currently has a consensus rating of “Hold” and a consensus price target of $9.75.

Comstock Resources Stock Performance

The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.64 and a current ratio of 0.64. The business’s 50-day moving average is $9.04 and its 200-day moving average is $9.32. The company has a market capitalization of $3.02 billion, a PE ratio of 45.37 and a beta of 0.70.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. Comstock Resources had a return on equity of 1.25% and a net margin of 4.27%. The business had revenue of $335.77 million during the quarter, compared to analysts’ expectations of $343.97 million. During the same quarter in the previous year, the business earned $0.33 earnings per share. The firm’s quarterly revenue was down 31.4% compared to the same quarter last year. On average, research analysts anticipate that Comstock Resources, Inc. will post -0.13 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Star Exploration Corp Blue bought 12,500,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was acquired at an average cost of $8.04 per share, with a total value of $100,500,000.00. Following the completion of the acquisition, 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 document filed with the SEC, which is available through this hyperlink. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Comstock Resources

Institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its stake in Comstock Resources by 7.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 922,263 shares of the oil and gas producer’s stock valued at $10,173,000 after acquiring an additional 60,830 shares during the period. Hsbc Holdings PLC lifted its position in Comstock Resources by 280.7% during the third quarter. Hsbc Holdings PLC now owns 409,406 shares of the oil and gas producer’s stock valued at $4,556,000 after purchasing an additional 301,863 shares during the period. Barclays PLC lifted its position in Comstock Resources by 139.7% during the third quarter. Barclays PLC now owns 326,486 shares of the oil and gas producer’s stock valued at $3,600,000 after purchasing an additional 190,254 shares during the period. KGH Ltd boosted its holdings in Comstock Resources by 119.3% in 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 last quarter. Finally, Wealthsource Partners LLC bought a new stake in Comstock Resources in the 4th quarter worth approximately $134,000. 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.