Comstock Resources (NYSE:CRK) Price Target Cut to $10.00 by Analysts at Mizuho

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

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

Comstock Resources Trading Up 1.9 %

Shares of CRK stock opened at $10.14 on Monday. The firm has a fifty day moving average of $10.11 and a 200-day moving average of $10.09. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 46.07 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 debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.59.

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

Insider Buying and Selling

In related news, major shareholder Star Exploration Corp Blue bought 825,000 shares of Comstock Resources stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $8.16 per share, for a total transaction of $6,732,000.00. Following the completion of the transaction, the insider now owns 195,646,429 shares of the company’s stock, valued at $1,596,474,860.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Star Exploration Corp Blue bought 825,000 shares of the stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $8.16 per share, with a total value of $6,732,000.00. Following the purchase, the insider now owns 195,646,429 shares of the company’s stock, valued at $1,596,474,860.64. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Drilling L.P. Arkoma purchased 825,868 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average cost of $9.76 per share, for a total transaction of $8,060,471.68. Following the purchase, the insider now directly owns 198,949,901 shares of the company’s stock, valued at $1,941,751,033.76. The disclosure for this purchase can be found here. Insiders have purchased a total of 6,712,733 shares of company stock worth $67,816,851 in the last 90 days. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Blue Trust Inc. acquired a new position in shares of Comstock Resources in the 2nd quarter valued at $32,000. EverSource Wealth Advisors LLC increased its holdings in Comstock Resources by 2,533.8% in the second quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 3,446 shares during the last quarter. GAMMA Investing LLC lifted its stake in Comstock Resources by 428.9% in the first quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer’s stock valued at $44,000 after buying an additional 3,869 shares during the period. Hexagon Capital Partners LLC lifted its stake in Comstock Resources by 2,161.0% in the first quarter. Hexagon Capital Partners LLC now owns 4,929 shares of the oil and gas producer’s stock valued at $46,000 after buying an additional 4,711 shares during the period. Finally, Headlands Technologies LLC bought a new position in Comstock Resources during the first quarter worth about $91,000. 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.