Comstock Resources (NYSE:CRK) Trading Up 5.7%

Comstock Resources, Inc. (NYSE:CRK)’s share price traded up 5.7% on Monday . The company traded as high as $10.55 and last traded at $10.55. 410,475 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 4,452,895 shares. The stock had previously closed at $9.98.

Wall Street Analysts Forecast Growth

CRK has been the topic of several recent analyst reports. The Goldman Sachs Group upped their target price on Comstock Resources from $8.00 to $9.00 and gave the company a “sell” rating in a research report on Tuesday, April 2nd. StockNews.com raised shares of Comstock Resources to a “sell” rating in a research report on Monday, April 29th. Mizuho cut their price target on shares of Comstock Resources from $10.00 to $9.00 and set an “underperform” rating on the stock in a research note on Monday, April 15th. Truist Financial lowered 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 note on Tuesday, February 13th. Finally, Pickering Energy Partners raised Comstock Resources from an “underperform” rating to a “neutral” rating in a research report on Tuesday, January 9th. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Comstock Resources presently has an average rating of “Hold” and an average price target of $9.75.

Comstock Resources Stock Up 3.4 %

The stock has a market cap of $3.02 billion, a PE ratio of 45.37 and a beta of 0.70. The business has a 50 day moving average price of $9.04 and a 200 day moving average price of $9.32. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.09.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. Comstock Resources had a net margin of 4.27% and a return on equity of 1.25%. The business had revenue of $335.77 million for the quarter, compared to analysts’ expectations of $343.97 million. During the same quarter last year, the company earned $0.33 EPS. The business’s revenue was down 31.4% on a year-over-year basis. Equities research analysts expect that Comstock Resources, Inc. will post -0.13 EPS for the current fiscal year.

Insider Buying and Selling at Comstock Resources

In other 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 acquired at an average cost 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 in the company, valued at approximately $1,566,364,289.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Comstock Resources

A number of institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in Comstock Resources by 428.9% during the 1st quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer’s stock worth $44,000 after buying an additional 3,869 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in Comstock Resources by 2,161.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 4,929 shares of the oil and gas producer’s stock valued at $46,000 after purchasing an additional 4,711 shares during the last quarter. Federated Hermes Inc. raised its stake in Comstock Resources by 80.0% in the 3rd quarter. Federated Hermes Inc. now owns 5,500 shares of the oil and gas producer’s stock valued at $61,000 after purchasing an additional 2,445 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Comstock Resources by 144.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,645 shares of the oil and gas producer’s stock valued at $73,000 after purchasing an additional 3,929 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in Comstock Resources during the 3rd quarter worth $80,000. Institutional investors and hedge funds 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.