Comstock Resources (NYSE:CRK) Trading 2.8% Higher

Comstock Resources, Inc. (NYSE:CRK) rose 2.8% during trading on Monday . The company traded as high as $11.11 and last traded at $11.10. Approximately 267,022 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 4,278,476 shares. The stock had previously closed at $10.80.

Analysts Set New Price Targets

Several analysts have recently commented on the company. The Goldman Sachs Group increased their target price on Comstock Resources from $8.00 to $9.00 and gave the stock a “sell” rating in a report on Tuesday, April 2nd. Capital One Financial downgraded Comstock Resources from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, May 15th. Mizuho lifted their price objective on Comstock Resources from $10.00 to $11.00 and gave the company an “underperform” rating in a report on Monday, May 13th. Piper Sandler reduced their price objective 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. Finally, StockNews.com raised Comstock Resources to a “sell” rating in a research note on Monday, April 29th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Comstock Resources currently has a consensus rating of “Hold” and an average target price of $10.08.

Comstock Resources Trading Up 1.2 %

The company has a debt-to-equity ratio of 1.09, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a 50-day moving average price of $9.55 and a two-hundred day moving average price of $9.16. The stock has a market cap of $3.25 billion, a PE ratio of 50.00 and a beta of 0.70.

Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.05. The business had revenue of $335.77 million for the quarter, compared to analyst estimates of $343.97 million. Comstock Resources had a net margin of 4.27% and a return on equity of 1.25%. The business’s revenue for the quarter was down 31.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.33 earnings per share. Sell-side analysts forecast that Comstock Resources, Inc. will post -0.11 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 Comstock Resources stock in a transaction dated Monday, March 25th. The stock was bought at an average price of $8.04 per share, for a total transaction of $100,500,000.00. Following the purchase, the insider now owns 194,821,429 shares of the company’s stock, valued at $1,566,364,289.16. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.50% of the company’s stock.

Institutional Trading of Comstock Resources

Several institutional investors have recently added to or reduced their stakes in CRK. GAMMA Investing LLC boosted its position in shares of Comstock Resources by 428.9% during the 1st quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer’s stock valued at $44,000 after purchasing an additional 3,869 shares in the last quarter. Hexagon Capital Partners LLC raised its position in shares of 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 purchasing an additional 4,711 shares during the period. Federated Hermes Inc. grew its stake 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 worth $61,000 after acquiring an additional 2,445 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Comstock Resources by 144.7% during the third quarter. PNC Financial Services Group Inc. now owns 6,645 shares of the oil and gas producer’s stock worth $73,000 after buying an additional 3,929 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in Comstock Resources during the third quarter worth $80,000. 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.