Mizuho Lowers Comstock Resources (NYSE:CRK) Price Target to $9.00

Comstock Resources (NYSE:CRK) had its price target decreased by Mizuho from $10.00 to $9.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “underperform” rating on the oil and gas producer’s stock. Mizuho’s target price suggests a potential downside of 5.86% from the company’s current price.

A number of other analysts have also issued reports on the stock. Truist Financial reduced their price target on shares of Comstock Resources from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Tuesday, February 13th. Stifel Nicolaus decreased their target price on shares of Comstock Resources from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Pickering Energy Partners raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating in a research note on Tuesday, January 9th. StockNews.com raised Comstock Resources to a “sell” rating in a research report on Thursday, April 4th. Finally, Piper Sandler dropped their target price 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 equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $10.00.

Comstock Resources Trading Down 0.1 %

Shares of NYSE:CRK opened at $9.56 on Monday. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 12.58 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 50 day moving average price of $8.40 and a 200 day moving average price of $9.53. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.68 and a current ratio of 0.68.

Comstock Resources (NYSE:CRK) last issued its 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). Comstock Resources had a return on equity of 5.65% and a net margin of 13.49%. The company had revenue of $410.58 million during the quarter, compared to analyst estimates of $401.97 million. During the same quarter in the previous year, the firm earned $1.05 earnings per share. The business’s revenue was down 55.5% compared to the same quarter last year. On average, research analysts anticipate that Comstock Resources will post 0.06 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Star Exploration Corp Blue acquired 12,500,000 shares of Comstock Resources stock in a transaction that occurred on Monday, March 25th. The shares were acquired at an average price of $8.04 per share, with a total value of $100,500,000.00. Following the purchase, the insider now directly owns 194,821,429 shares of the company’s stock, valued at $1,566,364,289.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Comstock Resources

Several institutional investors have recently modified their holdings of CRK. Doliver Advisors LP lifted its stake in Comstock Resources by 14.2% in the first quarter. Doliver Advisors LP now owns 26,416 shares of the oil and gas producer’s stock valued at $245,000 after buying an additional 3,290 shares in the last quarter. Ballentine Partners LLC bought a new stake in Comstock Resources in the 1st quarter valued at $138,000. Sanders Morris Harris LLC acquired a new position in Comstock Resources in the 1st quarter worth $1,717,000. Chickasaw Capital Management LLC bought a new position in Comstock Resources during the 1st quarter worth about $232,000. Finally, GAMMA Investing LLC raised its stake 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 purchasing an additional 3,869 shares during the period. 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.