Comstock Resources (NYSE:CRK) Stock Rating Lowered by Siebert Williams Shank

Comstock Resources (NYSE:CRK) was downgraded by analysts at Siebert Williams Shank from a “hold” rating to a “sell” rating in a report issued on Tuesday, MarketBeat Ratings reports. They presently have a $9.00 price target on the oil and gas producer’s stock. Siebert Williams Shank’s price objective would suggest a potential downside of 22.28% from the company’s current price.

A number of other equities research analysts also recently weighed in on CRK. Wolfe Research started coverage on Comstock Resources in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Mizuho reduced their target price on shares of Comstock Resources from $11.00 to $10.00 and set an “underperform” rating for the company in a research note on Monday, September 16th. BMO Capital Markets boosted their target price on shares of Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. Piper Sandler downgraded shares of Comstock Resources from a “neutral” rating to an “underweight” rating and cut their price target for the company from $8.00 to $5.00 in a report on Thursday, August 15th. Finally, Truist Financial upped their price objective on shares of Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $9.79.

Comstock Resources Stock Performance

Shares of CRK opened at $11.58 on Tuesday. The company has a market capitalization of $3.38 billion, a PE ratio of 52.64 and a beta of 0.47. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.59. The company’s 50 day moving average price is $10.69 and its 200 day moving average price is $10.49. Comstock Resources has a 52 week low of $7.07 and a 52 week high of $13.39.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported ($0.20) EPS for the quarter, missing the consensus estimate 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 company had revenue of $246.80 million for the quarter, compared to analysts’ expectations of $296.02 million. The business’s quarterly revenue was down 14.4% on a year-over-year basis. Research analysts expect that Comstock Resources will post -0.37 EPS for the current fiscal year.

Insider Buying and Selling

In other Comstock Resources news, major shareholder Star Exploration Corp Blue bought 825,868 shares of the stock in a transaction on Wednesday, August 7th. The shares were purchased at an average price of $8.82 per share, with a total value of $7,284,155.76. Following the acquisition, the insider now directly owns 197,298,165 shares of the company’s stock, valued at $1,740,169,815.30. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Drilling L.P. Arkoma acquired 573,453 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was acquired at an average price of $10.64 per share, with a total value of $6,101,539.92. Following the completion of the transaction, the insider now owns 203,450,946 shares of the company’s stock, valued at approximately $2,164,718,065.44. This represents 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 the SEC website. Also, major shareholder Star Exploration Corp Blue bought 825,868 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average cost of $8.82 per share, for a total transaction of $7,284,155.76. Following the completion of the transaction, the insider now owns 197,298,165 shares of the company’s stock, valued at $1,740,169,815.30. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 6,712,733 shares of company stock valued at $67,816,851. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Comstock Resources

Several large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. bought a new stake in shares of Comstock Resources during the second quarter valued at approximately $32,000. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 worth $34,000 after acquiring an additional 3,446 shares during the period. GAMMA Investing LLC boosted 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 valued at $44,000 after acquiring an additional 3,869 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in shares of Comstock Resources by 2,161.0% during 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 acquiring an additional 4,711 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in Comstock Resources in the first quarter worth about $91,000. Institutional investors and hedge funds own 36.13% of the company’s stock.

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.