Comstock Resources (NYSE:CRK) PT 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 issued on Monday, Benzinga reports. The firm currently has an “underperform” rating on the oil and gas producer’s stock. Mizuho’s target price points to a potential downside of 1.21% from the stock’s previous close.

CRK has been the topic of several other research reports. Stifel Nicolaus reduced their price target on shares of Comstock Resources from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. Siebert Williams Shank initiated coverage on shares of Comstock Resources in a research report on Tuesday, December 19th. They issued a “hold” rating and a $10.00 price target on the stock. Piper Sandler reduced their price target on shares of Comstock Resources from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Thursday, March 7th. StockNews.com raised shares of Comstock Resources to a “sell” rating in a research note on Thursday, April 4th. Finally, Truist Financial dropped their price objective on shares of Comstock Resources from $10.00 to $9.00 and set a “hold” rating for the company in a research note on Tuesday, February 13th. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $10.00.

Comstock Resources Trading Down 1.8 %

Comstock Resources stock opened at $9.11 on Monday. The stock has a market cap of $2.54 billion, a P/E ratio of 11.99 and a beta of 0.70. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.68 and a quick ratio of 0.68. Comstock Resources has a 1 year low of $7.07 and a 1 year high of $13.39. The firm’s 50 day moving average price is $8.46 and its 200-day moving average price is $9.50.

Comstock Resources (NYSE:CRK) last released its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.06). Comstock Resources had a net margin of 13.49% and a return on equity of 5.65%. The company had revenue of $410.58 million for the quarter, compared to the consensus estimate of $401.97 million. During the same quarter in the previous year, the business earned $1.05 EPS. The company’s quarterly revenue was down 55.5% on a year-over-year basis. On average, equities analysts predict that Comstock Resources will post 0.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Comstock Resources

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 shares were bought at an average cost of $8.04 per share, for a total transaction of $100,500,000.00. Following the acquisition, the insider now directly owns 194,821,429 shares of the company’s stock, valued at approximately $1,566,364,289.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Comstock Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. purchased a new stake in Comstock Resources during the 1st quarter worth approximately $310,000. Citigroup Inc. raised its position in Comstock Resources by 21.2% during the 1st quarter. Citigroup Inc. now owns 240,161 shares of the oil and gas producer’s stock worth $3,134,000 after buying an additional 42,001 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Comstock Resources by 14.8% in the 1st quarter. Bank of Montreal Can now owns 15,258 shares of the oil and gas producer’s stock valued at $201,000 after purchasing an additional 1,965 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Comstock Resources by 58.5% in the 1st quarter. MetLife Investment Management LLC now owns 54,147 shares of the oil and gas producer’s stock valued at $707,000 after purchasing an additional 19,984 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in Comstock Resources by 12.5% during the 1st quarter. BlackRock Inc. now owns 7,076,353 shares of the oil and gas producer’s stock valued at $92,347,000 after acquiring an additional 786,726 shares in 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.