Comstock Resources (NYSE:CRK) Given New $19.00 Price Target at Truist Financial

Comstock Resources (NYSE:CRK) had its price target boosted by investment analysts at Truist Financial from $11.00 to $19.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the oil and gas producer’s stock. Truist Financial’s target price points to a potential downside of 5.24% from the stock’s previous close.

Several other equities analysts also recently commented on the company. Siebert Williams Shank downgraded Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 target price for the company. in a research report on Tuesday, October 15th. Citigroup increased their price objective on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a report on Friday, December 6th. Mizuho raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $10.00 to $18.00 in a research note on Monday, December 16th. Morgan Stanley began coverage on shares of Comstock Resources in a research note on Friday. They set an “equal weight” rating and a $18.00 price target on the stock. Finally, Bank of America assumed coverage on shares of Comstock Resources in a research report on Monday, October 28th. They issued a “buy” rating and a $14.00 price objective for the company. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $13.30.

Comstock Resources Stock Performance

CRK stock opened at $20.05 on Monday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $5.86 billion, a price-to-earnings ratio of -111.38 and a beta of 0.51. Comstock Resources has a 12 month low of $7.07 and a 12 month high of $20.08. The firm has a 50 day moving average of $15.77 and a two-hundred day moving average of $12.45.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). The business had revenue of $304.50 million during the quarter, compared to the consensus estimate of $308.75 million. Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The company’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 earnings per share. As a group, equities analysts anticipate that Comstock Resources will post -0.44 EPS for the current fiscal year.

Insider Transactions at Comstock Resources

In other Comstock Resources news, Director Elizabeth B. Davis sold 8,000 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $18.17, for a total value of $145,360.00. Following the completion of the sale, the director now directly owns 99,632 shares in the company, valued at $1,810,313.44. This represents a 7.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 38,000 shares of company stock worth $634,660. 2.00% of the stock is currently owned by company insiders.

Institutional Trading of Comstock Resources

Large investors have recently bought and sold shares of the business. Doliver Advisors LP boosted its holdings in shares of Comstock Resources by 3.9% in the third quarter. Doliver Advisors LP now owns 26,455 shares of the oil and gas producer’s stock valued at $294,000 after buying an additional 988 shares during the period. XTX Topco Ltd increased its holdings in Comstock Resources by 4.8% during the 2nd quarter. XTX Topco Ltd now owns 28,791 shares of the oil and gas producer’s stock worth $299,000 after purchasing an additional 1,330 shares in the last quarter. Sunbelt Securities Inc. raised its stake in shares of Comstock Resources by 140.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock valued at $27,000 after purchasing an additional 1,400 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Comstock Resources by 2.9% in the second quarter. The Manufacturers Life Insurance Company now owns 57,876 shares of the oil and gas producer’s stock valued at $601,000 after purchasing an additional 1,656 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Comstock Resources by 6.9% in the second quarter. Arizona State Retirement System now owns 28,630 shares of the oil and gas producer’s stock valued at $297,000 after purchasing an additional 1,848 shares in the last quarter. 36.13% of the stock is owned by institutional investors.

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.