Comstock Resources, Inc. (NYSE:CRK) Receives $9.75 Consensus Target Price from Analysts

Comstock Resources, Inc. (NYSE:CRK) has received a consensus recommendation of “Reduce” from the twelve ratings firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $9.93.

A number of equities analysts recently issued reports on the stock. KeyCorp began coverage on shares of Comstock Resources in a research report on Thursday, June 27th. They set a “sector weight” rating on the stock. Truist Financial upped their price objective on shares of Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Wolfe Research assumed coverage on Comstock Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Piper Sandler cut Comstock Resources from a “neutral” rating to an “underweight” rating and cut their price target for the company from $8.00 to $5.00 in a report on Thursday, August 15th. Finally, Mizuho decreased their price objective on Comstock Resources from $11.00 to $10.00 and set an “underperform” rating on the stock in a report on Monday, September 16th.

Insider Buying and Selling

In related news, major shareholder Drilling L.P. Arkoma purchased 592,246 shares of the stock in a transaction on Monday, August 26th. The shares were purchased at an average cost of $11.54 per share, for a total transaction of $6,834,518.84. Following the completion of the transaction, the insider now directly owns 208,219,992 shares of the company’s stock, valued at approximately $2,402,858,707.68. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Drilling L.P. Arkoma purchased 592,246 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was purchased at an average cost of $11.54 per share, with a total value of $6,834,518.84. Following the acquisition, the insider now directly owns 208,219,992 shares of the company’s stock, valued at approximately $2,402,858,707.68. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Star Exploration Corp Blue acquired 825,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $8.16 per share, for a total transaction of $6,732,000.00. Following the completion of the purchase, the insider now directly owns 195,646,429 shares of the company’s stock, valued at approximately $1,596,474,860.64. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 6,712,733 shares of company stock worth $67,816,851 in the last 90 days. 1.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Comstock Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC grew its holdings in shares of Comstock Resources by 269.4% during the third quarter. SG Americas Securities LLC now owns 55,044 shares of the oil and gas producer’s stock worth $613,000 after purchasing an additional 40,142 shares during the last quarter. Doliver Advisors LP lifted its position in Comstock Resources by 3.9% during the 3rd quarter. Doliver Advisors LP now owns 26,455 shares of the oil and gas producer’s stock worth $294,000 after buying an additional 988 shares in the last quarter. Heritage Oak Wealth Advisors LLC bought a new stake in Comstock Resources during the 2nd quarter worth about $220,000. KGH Ltd increased its position in Comstock Resources by 8.7% in the 2nd quarter. KGH Ltd now owns 12,125,000 shares of the oil and gas producer’s stock valued at $125,858,000 after acquiring an additional 975,000 shares in the last quarter. Finally, Algert Global LLC bought a new position in shares of Comstock Resources in the second quarter worth about $107,000. 36.13% of the stock is owned by institutional investors and hedge funds.

Comstock Resources Price Performance

CRK stock opened at $12.09 on Wednesday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.59 and a quick ratio of 0.59. The company has a 50-day moving average of $10.39 and a two-hundred day moving average of $10.39. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 54.95 and a beta of 0.47. Comstock Resources has a 52-week low of $7.07 and a 52-week high of $13.39.

Comstock Resources (NYSE:CRK) last released its earnings results on Tuesday, July 30th. The oil and gas producer reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). Comstock Resources had a negative net margin of 1.48% and a negative return on equity of 1.38%. The business had revenue of $246.80 million during the quarter, compared to analyst estimates of $296.02 million. The firm’s quarterly revenue was down 14.4% on a year-over-year basis. As a group, equities research analysts anticipate that Comstock Resources will post -0.37 EPS for the current year.

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.