Truist Financial Boosts Comstock Resources (NYSE:CRK) Price Target to $10.00

Comstock Resources (NYSE:CRK) had its target price boosted by Truist Financial from $9.00 to $10.00 in a research report released on Monday, Benzinga reports. Truist Financial currently has a hold rating on the oil and gas producer’s stock.

CRK has been the topic of several other reports. Wolfe Research started coverage on shares of Comstock Resources in a research report on Thursday, July 18th. They issued a peer perform rating on the stock. Piper Sandler lowered shares of Comstock Resources from a neutral rating to an underweight rating and decreased their price objective for the stock from $8.00 to $5.00 in a research report on Thursday, August 15th. KeyCorp started coverage on shares of Comstock Resources in a research report on Thursday, June 27th. They issued a sector weight rating on the stock. Finally, Mizuho cut 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. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Comstock Resources presently has an average rating of Hold and a consensus target price of $9.75.

Comstock Resources Stock Performance

NYSE:CRK opened at $11.95 on Monday. The firm’s fifty day moving average price is $10.28 and its 200 day moving average price is $10.28. 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. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 54.30 and a beta of 0.48.

Comstock Resources (NYSE:CRK) last issued its 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). The company had revenue of $246.80 million for the quarter, compared to analysts’ expectations of $296.02 million. Comstock Resources had a negative return on equity of 1.38% and a negative net margin of 1.48%. The business’s quarterly revenue was down 14.4% on a year-over-year basis. On average, sell-side analysts expect that Comstock Resources will post -0.37 EPS for the current year.

Insider Transactions at Comstock Resources

In other news, major shareholder Star Exploration Corp Blue bought 825,000 shares of the firm’s 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 acquisition, the insider now owns 195,646,429 shares of the company’s stock, valued at $1,596,474,860.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, major shareholder Star Exploration Corp Blue bought 825,000 shares of the firm’s 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 acquisition, the insider now owns 195,646,429 shares of the company’s stock, valued at $1,596,474,860.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Drilling L.P. Arkoma purchased 981,898 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was bought at an average price of $10.13 per share, with a total value of $9,946,626.74. Following the acquisition, the insider now owns 199,931,799 shares in the company, valued at $2,025,309,123.87. The disclosure for this purchase can be found here. In the last quarter, insiders bought 6,712,733 shares of company stock worth $67,816,851. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Comstock Resources

A number of institutional investors and hedge funds have recently bought and sold shares of CRK. KGH Ltd boosted its stake in shares of Comstock Resources by 8.7% during the 2nd quarter. KGH Ltd now owns 12,125,000 shares of the oil and gas producer’s stock valued at $125,858,000 after buying an additional 975,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Comstock Resources by 26.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,696,540 shares of the oil and gas producer’s stock valued at $121,414,000 after buying an additional 2,438,252 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Comstock Resources by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 10,829,100 shares of the oil and gas producer’s stock valued at $95,838,000 after buying an additional 34,231 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Comstock Resources by 19.0% during the 2nd quarter. American Century Companies Inc. now owns 2,270,435 shares of the oil and gas producer’s stock valued at $23,567,000 after buying an additional 362,043 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Comstock Resources by 775.4% during the 2nd quarter. Millennium Management LLC now owns 875,371 shares of the oil and gas producer’s stock valued at $9,086,000 after buying an additional 775,371 shares during the last quarter. Hedge funds and other institutional investors 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.