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

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

Several other analysts also recently commented on the stock. StockNews.com raised shares of Comstock Resources to a sell rating in a research report on Thursday, April 4th. Pickering Energy Partners raised shares of Comstock Resources from an underperform rating to a neutral rating in a research report on Tuesday, January 9th. Piper Sandler reduced their price objective on shares of Comstock Resources from $9.00 to $8.00 and set an overweight rating for the company in a research report on Thursday, March 7th. Truist Financial reduced their price objective 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. Finally, Mizuho reduced their price objective on shares of Comstock Resources from $10.00 to $9.00 and set an underperform rating for the company in a research report on Monday, April 15th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $9.75.

Comstock Resources Stock Up 1.5 %

Comstock Resources stock opened at $10.30 on Tuesday. 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 has a 52-week low of $7.07 and a 52-week high of $13.39. The firm has a 50 day moving average price of $8.72 and a two-hundred day moving average price of $9.46. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 13.49 and a beta of 0.70.

Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Tuesday, February 13th. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.06). Comstock Resources had a return on equity of 5.65% and a net margin of 13.49%. The firm had revenue of $410.58 million for the quarter, compared to the consensus estimate of $401.97 million. During the same quarter in the previous year, the business posted $1.05 EPS. The firm’s revenue for the quarter was down 55.5% compared to the same quarter last year. Equities analysts predict that Comstock Resources will post -0.06 EPS for the current year.

Insider Activity at Comstock Resources

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRK. KGH Ltd boosted its holdings in Comstock Resources by 119.3% during the third quarter. KGH Ltd now owns 8,586,000 shares of the oil and gas producer’s stock worth $94,704,000 after purchasing an additional 4,670,959 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Comstock Resources by 29.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,139,351 shares of the oil and gas producer’s stock worth $72,035,000 after purchasing an additional 1,833,302 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in Comstock Resources during the first quarter worth about $5,643,000. Readystate Asset Management LP boosted its holdings in Comstock Resources by 718.7% during the fourth quarter. Readystate Asset Management LP now owns 603,846 shares of the oil and gas producer’s stock worth $5,344,000 after purchasing an additional 530,090 shares during the last quarter. Finally, CastleKnight Management LP purchased a new position in Comstock Resources during the fourth quarter worth about $3,167,000. 36.13% of the stock is currently owned by hedge funds and other 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.