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

Comstock Resources (NYSE:CRK) had its price objective reduced by Stifel Nicolaus from $14.00 to $13.50 in a research note published on Tuesday morning, Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

CRK has been the topic of several other reports. Mizuho reduced their price target on Comstock Resources from $10.00 to $9.00 and set an underperform rating on the stock in a research report on Monday, April 15th. Pickering Energy Partners raised Comstock Resources from an underperform rating to a neutral rating in a research report on Tuesday, January 9th. Truist Financial reduced their price target on Comstock Resources from $10.00 to $9.00 and set a hold rating on the stock in a research report on Tuesday, February 13th. StockNews.com raised Comstock Resources to a sell rating in a research report on Thursday, April 4th. Finally, Piper Sandler reduced their price target 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. Three investment 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.com, the stock presently has a consensus rating of Hold and a consensus price target of $9.75.

Comstock Resources Stock Performance

NYSE CRK opened at $10.33 on Tuesday. The firm has a market capitalization of $2.87 billion, a P/E ratio of 13.59 and a beta of 0.70. Comstock Resources has a 1-year low of $7.07 and a 1-year high of $13.39. 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 business’s 50-day simple moving average is $8.78 and its 200-day simple moving average is $9.47.

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 for the quarter, missing the consensus estimate of $0.16 by ($0.06). The firm had revenue of $410.58 million during the quarter, compared to analyst estimates of $401.97 million. Comstock Resources had a net margin of 13.49% and a return on equity of 5.65%. The business’s revenue for the quarter was down 55.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.05 earnings per share. Equities analysts predict that Comstock Resources will post -0.06 EPS for the current year.

Insiders Place Their Bets

In other Comstock Resources news, major shareholder Star Exploration Corp Blue acquired 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 acquisition, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Comstock Resources

A number of institutional investors have recently made changes to their positions in CRK. GAMMA Investing LLC increased its holdings in shares of Comstock Resources by 428.9% in the 1st quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer’s stock valued at $44,000 after acquiring an additional 3,869 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of Comstock Resources by 2,161.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 4,929 shares of the oil and gas producer’s stock valued at $46,000 after acquiring an additional 4,711 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Comstock Resources by 80.0% in the 3rd 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 last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Comstock Resources by 144.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,645 shares of the oil and gas producer’s stock valued at $73,000 after acquiring an additional 3,929 shares during the last quarter. Finally, Steward Financial Group LLC increased its holdings in shares of Comstock Resources by 86.9% in the 3rd quarter. Steward Financial Group LLC now owns 6,776 shares of the oil and gas producer’s stock valued at $74,000 after acquiring an additional 3,151 shares during the last quarter. 36.13% of the stock is currently owned by institutional investors.

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.