Comstock Resources (NYSE:CRK) Given New $11.00 Price Target at BMO Capital Markets

Comstock Resources (NYSE:CRK) had its price objective upped by BMO Capital Markets from $10.00 to $11.00 in a research note issued to investors on Friday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the oil and gas producer’s stock.

CRK has been the topic of several other research reports. Mizuho cut their price target on Comstock Resources from $11.00 to $10.00 and set an underperform rating on the stock in a research note on Monday, September 16th. Piper Sandler cut Comstock Resources from a neutral rating to an underweight rating and reduced their target price for the company from $8.00 to $5.00 in a research note on Thursday, August 15th. Wolfe Research assumed coverage on shares of Comstock Resources in a research note on Thursday, July 18th. They issued a peer perform rating for the company. Truist Financial increased their price objective on shares of Comstock Resources from $9.00 to $10.00 and gave the company a hold rating in a research note on Monday, September 30th. Finally, KeyCorp initiated coverage on shares of Comstock Resources in a report on Thursday, June 27th. They set a sector weight rating for the company. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $9.93.

Comstock Resources Stock Up 0.8 %

NYSE CRK traded up $0.10 on Friday, reaching $12.05. The company had a trading volume of 1,875,712 shares, compared to its average volume of 3,740,552. The firm has a market capitalization of $3.52 billion, a PE ratio of 54.82 and a beta of 0.47. The firm has a 50-day moving average of $10.31 and a 200-day moving average of $10.31. Comstock Resources has a 1 year low of $7.07 and a 1 year high of $13.39. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.59 and a quick ratio of 0.59.

Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). Comstock Resources had a negative net margin of 1.48% and a negative return on equity of 1.38%. The firm had revenue of $246.80 million for the quarter, compared to analyst estimates of $296.02 million. The firm’s revenue for the quarter was down 14.4% on a year-over-year basis. On average, equities research analysts anticipate that Comstock Resources will post -0.37 EPS for the current fiscal year.

Insider Buying and Selling at Comstock Resources

In related news, major shareholder Star Exploration Corp Blue purchased 825,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $8.16 per share, for a total transaction of $6,732,000.00. Following the transaction, the insider now owns 195,646,429 shares of the company’s stock, valued at $1,596,474,860.64. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, major shareholder Star Exploration Corp Blue purchased 825,000 shares of the stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $8.16 per share, for a total transaction of $6,732,000.00. Following the completion of the transaction, the insider now owns 195,646,429 shares of the company’s stock, valued at approximately $1,596,474,860.64. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Drilling L.P. Arkoma acquired 592,246 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was purchased at an average price of $11.54 per share, for a total transaction of $6,834,518.84. Following the completion of the transaction, the insider now owns 208,219,992 shares in the company, valued at $2,402,858,707.68. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 6,712,733 shares of company stock worth $67,816,851 over the last ninety days. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Comstock Resources

Large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. bought a new position in shares of Comstock Resources in the second quarter worth $32,000. EverSource Wealth Advisors LLC increased its stake in Comstock Resources by 2,533.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 3,446 shares during the period. GAMMA Investing LLC raised its position in shares of 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 lifted its stake in shares of 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 worth $46,000 after acquiring an additional 4,711 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of Comstock Resources in the 1st quarter worth approximately $91,000. 36.13% of the stock is currently owned by institutional investors and hedge funds.

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.