Comstock Resources (NYSE:CRK) Trading 5.7% Higher

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CRK shares. Truist Financial decreased their price objective on Comstock Resources from $10.00 to $9.00 and set a “hold” rating for the company in a report on Tuesday, February 13th. Mizuho dropped 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 report on Monday, April 15th. Pickering Energy Partners raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating in a report on Tuesday, January 9th. StockNews.com raised shares of Comstock Resources to a “sell” rating in a report on Monday, April 29th. Finally, The Goldman Sachs Group raised their target price on shares of Comstock Resources from $8.00 to $9.00 and gave the stock a “sell” rating in a report on Tuesday, April 2nd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Comstock Resources presently has an average rating of “Hold” and a consensus target price of $9.75.

Comstock Resources Price Performance

The company has a market capitalization of $2.96 billion, a P/E ratio of 47.00 and a beta of 0.70. The business’s 50-day moving average is $9.13 and its two-hundred day moving average is $9.29. 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 posted its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.05. The firm had revenue of $335.77 million during the quarter, compared to analyst estimates of $343.97 million. Comstock Resources had a net margin of 4.27% and a return on equity of 1.25%. The company’s revenue for the quarter was down 31.4% on a year-over-year basis. During the same quarter last year, the business posted $0.33 EPS. As a group, analysts predict that Comstock Resources, Inc. will post -0.13 earnings per share for the current year.

Insider Buying and Selling at Comstock Resources

In related news, major shareholder Star Exploration Corp Blue bought 12,500,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were purchased at an average cost of $8.04 per share, for a total transaction of $100,500,000.00. Following the completion of the purchase, the insider now directly owns 194,821,429 shares in the company, valued at $1,566,364,289.16. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. ProShare Advisors LLC boosted its position in Comstock Resources by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 18,536 shares of the oil and gas producer’s stock valued at $172,000 after buying an additional 1,276 shares during the period. Outfitter Financial LLC raised its stake in Comstock Resources by 5.0% during the 4th quarter. Outfitter Financial LLC now owns 34,300 shares of the oil and gas producer’s stock valued at $304,000 after buying an additional 1,630 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Comstock Resources by 5.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,381 shares of the oil and gas producer’s stock worth $366,000 after acquiring an additional 2,310 shares during the period. SG Americas Securities LLC raised its stake in shares of Comstock Resources by 4.6% in the fourth quarter. SG Americas Securities LLC now owns 53,942 shares of the oil and gas producer’s stock worth $477,000 after buying an additional 2,389 shares during the period. Finally, Federated Hermes Inc. grew its stake in shares of Comstock Resources by 80.0% during the 3rd quarter. Federated Hermes Inc. now owns 5,500 shares of the oil and gas producer’s stock valued at $61,000 after acquiring an additional 2,445 shares during the period. 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.