Mizuho Cuts Comstock Resources (NYSE:CRK) Price Target to $9.00

Comstock Resources (NYSE:CRK) had its price target decreased by Mizuho from $10.00 to $9.00 in a report published on Monday, Benzinga reports. Mizuho currently has an underperform rating on the oil and gas producer’s stock.

CRK has been the subject of several other reports. Siebert Williams Shank began coverage on Comstock Resources in a research report on Tuesday, December 19th. They set a hold rating and a $10.00 target price for the company. Piper Sandler decreased their price objective on Comstock Resources from $9.00 to $8.00 and set an overweight rating for the company in a report on Thursday, March 7th. Truist Financial decreased their price objective on Comstock Resources from $10.00 to $9.00 and set a hold rating for the company in a report on Tuesday, February 13th. Stifel Nicolaus decreased their price objective on Comstock Resources from $15.00 to $13.00 and set a buy rating for the company in a report on Tuesday, January 23rd. Finally, StockNews.com upgraded Comstock Resources to a sell rating in a report on Thursday, April 4th. Three research 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’s stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $10.00.

Comstock Resources Stock Up 0.8 %

NYSE:CRK opened at $9.19 on Monday. Comstock Resources has a twelve month low of $7.07 and a twelve month high of $13.39. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 12.09 and a beta of 0.70. The stock has a fifty day simple moving average of $8.50 and a 200-day simple moving average of $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.

Comstock Resources (NYSE:CRK) last released its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.10 earnings per share 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 for the quarter, compared to the consensus estimate of $401.97 million. During the same quarter last year, the business posted $1.05 earnings per share. The firm’s revenue for the quarter was down 55.5% compared to the same quarter last year. Analysts anticipate that Comstock Resources will post 0.06 EPS for the current year.

Insider Buying and Selling at Comstock Resources

In related news, major shareholder Star Exploration Corp Blue bought 12,500,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were bought at an average price of $8.04 per share, for a total transaction of $100,500,000.00. Following the completion of the purchase, the insider now directly 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 through this link. 1.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Comstock Resources

A number of large investors have recently modified their holdings of the business. BlackRock Inc. grew its stake in shares of Comstock Resources by 2.8% during the second quarter. BlackRock Inc. now owns 14,505,907 shares of the oil and gas producer’s stock worth $168,269,000 after acquiring an additional 393,075 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Comstock Resources by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 10,829,100 shares of the oil and gas producer’s stock worth $95,838,000 after acquiring an additional 34,231 shares during the last quarter. State Street Corp grew its stake in shares of Comstock Resources by 19.3% during the first quarter. State Street Corp now owns 10,279,079 shares of the oil and gas producer’s stock worth $110,911,000 after acquiring an additional 1,660,068 shares during the last quarter. KGH Ltd grew its stake in shares of Comstock Resources by 119.3% during the third quarter. KGH Ltd now owns 8,586,000 shares of the oil and gas producer’s stock worth $94,704,000 after acquiring an additional 4,670,959 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Comstock Resources by 29.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,139,351 shares of the oil and gas producer’s stock worth $72,035,000 after purchasing an additional 1,833,302 shares during the period. 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.