Stifel Nicolaus Lowers Comstock Resources (NYSE:CRK) Price Target to $13.50

Comstock Resources (NYSE:CRK) had its price target cut by Stifel Nicolaus from $14.00 to $13.50 in a research note released on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the oil and gas producer’s stock.

CRK has been the topic of a number of other reports. The Goldman Sachs Group upped their target price on shares of Comstock Resources from $8.00 to $9.00 and gave the stock a sell rating in a research note on Tuesday, April 2nd. Pickering Energy Partners upgraded shares of Comstock Resources from an underperform rating to a neutral rating in a research note on Tuesday, January 9th. Truist Financial cut their target price on shares of Comstock Resources from $10.00 to $9.00 and set a hold rating on the stock in a research note on Tuesday, February 13th. StockNews.com upgraded shares of Comstock Resources to a sell rating in a research note on Thursday, April 4th. Finally, Piper Sandler cut their target price 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. Three analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $9.75.

Comstock Resources Stock Up 0.2 %

Shares of NYSE:CRK opened at $10.33 on Tuesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market capitalization of $2.87 billion, a PE ratio of 13.59 and a beta of 0.70. The firm’s 50-day moving average is $8.78 and its two-hundred day moving average is $9.47. Comstock Resources has a 1 year low of $7.07 and a 1 year high of $13.39.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Tuesday, February 13th. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). The business had revenue of $410.58 million for the quarter, compared to analysts’ expectations of $401.97 million. Comstock Resources had a return on equity of 5.65% and a net margin of 13.49%. The firm’s revenue for the quarter was down 55.5% on a year-over-year basis. During the same quarter last year, the company earned $1.05 earnings per share. Analysts predict 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 purchased 12,500,000 shares of the company’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 completion of the purchase, the insider now directly owns 194,821,429 shares of the company’s stock, valued at approximately $1,566,364,289.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Comstock Resources

Several large investors have recently modified their holdings of the company. Outfitter Financial LLC boosted its holdings in shares of Comstock Resources by 5.0% in the fourth quarter. Outfitter Financial LLC now owns 34,300 shares of the oil and gas producer’s stock valued at $304,000 after acquiring an additional 1,630 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Comstock Resources by 5.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,381 shares of the oil and gas producer’s stock valued at $366,000 after acquiring an additional 2,310 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Comstock Resources by 4.6% in the fourth quarter. SG Americas Securities LLC now owns 53,942 shares of the oil and gas producer’s stock valued at $477,000 after acquiring an additional 2,389 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Comstock Resources by 80.0% in the third 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 period. Finally, Pittenger & Anderson Inc. boosted its holdings in shares of Comstock Resources by 25.0% in the fourth quarter. Pittenger & Anderson Inc. now owns 12,500 shares of the oil and gas producer’s stock valued at $111,000 after acquiring an additional 2,500 shares during the period. 36.13% of the stock is owned by institutional investors and hedge funds.

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.