Comstock Resources (NYSE:CRK) Given New $6.00 Price Target at Piper Sandler

Comstock Resources (NYSE:CRK) had its price target hoisted by Piper Sandler from $5.00 to $6.00 in a report released on Wednesday morning,Benzinga reports. Piper Sandler currently has an underweight rating on the oil and gas producer’s stock.

Several other research analysts have also commented on the company. Citigroup raised their price objective on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research report on Friday, December 6th. Mizuho raised Comstock Resources from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $10.00 to $18.00 in a research report on Monday, December 16th. Truist Financial lifted their price objective on shares of Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Siebert Williams Shank lowered shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price target for the company. in a report on Tuesday, October 15th. Finally, BMO Capital Markets boosted their price objective on shares of Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.40.

Comstock Resources Stock Up 0.2 %

Shares of NYSE:CRK opened at $19.08 on Wednesday. Comstock Resources has a 1 year low of $7.07 and a 1 year high of $22.06. The stock has a 50-day simple moving average of $17.63 and a 200-day simple moving average of $13.35. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a market capitalization of $5.57 billion, a P/E ratio of -105.97, a PEG ratio of 2.53 and a beta of 0.51.

Comstock Resources (NYSE:CRK) last released its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The business had revenue of $304.50 million for the quarter, compared to analysts’ expectations of $308.75 million. Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. Comstock Resources’s quarterly revenue was down 19.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.04 earnings per share. Equities analysts forecast that Comstock Resources will post -0.39 earnings per share for the current year.

Insider Buying and Selling at Comstock Resources

In other Comstock Resources news, Director Elizabeth B. Davis sold 8,000 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $18.17, for a total transaction of $145,360.00. Following the sale, the director now directly owns 99,632 shares of the company’s stock, valued at approximately $1,810,313.44. This represents a 7.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 38,000 shares of company stock worth $634,660 over the last quarter. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Comstock Resources

Several institutional investors and hedge funds have recently bought and sold shares of CRK. Savant Capital LLC boosted its stake in Comstock Resources by 43.8% in the fourth quarter. Savant Capital LLC now owns 14,800 shares of the oil and gas producer’s stock valued at $270,000 after acquiring an additional 4,506 shares during the period. Bleakley Financial Group LLC boosted its position in Comstock Resources by 25.4% during the 4th quarter. Bleakley Financial Group LLC now owns 31,955 shares of the oil and gas producer’s stock valued at $582,000 after purchasing an additional 6,464 shares during the period. KBC Group NV grew its stake in Comstock Resources by 46.8% during the 4th quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer’s stock worth $118,000 after buying an additional 2,066 shares during the last quarter. Blue Trust Inc. increased its position in Comstock Resources by 56.4% in the fourth quarter. Blue Trust Inc. now owns 10,502 shares of the oil and gas producer’s stock worth $191,000 after buying an additional 3,787 shares during the period. Finally, Woodstock Corp boosted its holdings in shares of Comstock Resources by 50.0% during the fourth quarter. Woodstock Corp now owns 15,000 shares of the oil and gas producer’s stock valued at $273,000 after acquiring an additional 5,000 shares during the period. 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.