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

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

Several other equities analysts also recently weighed in on CRK. Piper Sandler lowered their price target on shares of Comstock Resources from $9.00 to $8.00 and set an overweight rating on the stock in a report on Thursday, March 7th. Mizuho lowered their price target on shares of Comstock Resources from $10.00 to $9.00 and set an underperform rating on the stock in a report on Monday, April 15th. StockNews.com raised shares of Comstock Resources to a sell rating in a report on Thursday, April 4th. Truist Financial lowered their price target on shares of Comstock Resources from $10.00 to $9.00 and set a hold rating on the stock in a report on Tuesday, February 13th. Finally, Pickering Energy Partners raised shares of Comstock Resources from an underperform rating to a neutral rating in a report on Tuesday, January 9th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $9.75.

Comstock Resources Stock Performance

CRK opened at $10.30 on Tuesday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.11. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 13.49 and a beta of 0.70. The company’s 50 day moving average is $8.72 and its 200 day moving average is $9.46. Comstock Resources has a 12-month low of $7.07 and a 12-month high of $13.39.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data 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). The business had revenue of $410.58 million during the quarter, compared to analysts’ expectations of $401.97 million. Comstock Resources had a return on equity of 5.65% and a net margin of 13.49%. The business’s quarterly revenue was down 55.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.05 EPS. On average, equities research analysts predict that Comstock Resources will post -0.06 EPS for the current year.

Insider Transactions at Comstock Resources

In related news, major shareholder Star Exploration Corp Blue bought 12,500,000 shares of the stock in a transaction dated Monday, March 25th. The shares were purchased at an average price of $8.04 per share, with a total value of $100,500,000.00. Following the completion of the acquisition, 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 filing with the SEC, which is available through this hyperlink. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Comstock Resources

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Comstock Resources by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 10,829,100 shares of the oil and gas producer’s stock worth $95,838,000 after purchasing an additional 34,231 shares during the last quarter. KGH Ltd increased its position in Comstock Resources by 119.3% in 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 increased its position in Comstock Resources by 29.1% in 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. Bank of New York Mellon Corp increased its position in Comstock Resources by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 3,295,391 shares of the oil and gas producer’s stock worth $36,348,000 after purchasing an additional 41,260 shares during the last quarter. Finally, Heartland Advisors Inc. increased its position in Comstock Resources by 13.9% in the third quarter. Heartland Advisors Inc. now owns 1,485,997 shares of the oil and gas producer’s stock worth $18,107,000 after purchasing an additional 180,917 shares during the last quarter. Institutional investors own 36.13% of the company’s stock.

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.