Comstock Resources (NYSE:CRK) Price Target Lowered to $14.00 at Stifel Nicolaus

Comstock Resources (NYSE:CRK – Get Rating) had its price objective decreased by Stifel Nicolaus from $15.00 to $14.00 in a research report released on Monday, The Fly reports.

Several other equities analysts also recently weighed in on the stock. Roth Capital reiterated a neutral rating on shares of Comstock Resources in a research note on Tuesday, February 14th. The Goldman Sachs Group reduced their price objective on shares of Comstock Resources from $14.00 to $12.00 and set a sell rating for the company in a research note on Wednesday, January 25th. Piper Sandler reduced their price objective on shares of Comstock Resources from $14.00 to $13.00 and set a neutral rating for the company in a research note on Wednesday, April 19th. Truist Financial reduced their price objective on shares of Comstock Resources from $12.00 to $9.00 and set a hold rating for the company in a research note on Tuesday, April 11th. Finally, StockNews.com began coverage on shares of Comstock Resources in a research note on Thursday, May 18th. They set a hold rating for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $13.50.

Comstock Resources Price Performance

CRK opened at $10.08 on Monday. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 2.02 and a beta of 1.19. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.91. The firm has a 50-day moving average price of $10.50 and a 200-day moving average price of $12.81. Comstock Resources has a twelve month low of $9.20 and a twelve month high of $22.11.

Comstock Resources (NYSE:CRK – Get Rating) last posted its earnings results on Tuesday, May 2nd. The oil and gas producer reported $0.33 earnings per share for the quarter, hitting the consensus estimate of $0.33. The firm had revenue of $489.58 million during the quarter, compared to the consensus estimate of $433.84 million. Comstock Resources had a net margin of 39.08% and a return on equity of 52.26%. The company’s revenue was down 6.7% on a year-over-year basis. During the same quarter last year, the company earned $0.51 earnings per share. Equities analysts expect that Comstock Resources will post 0.98 EPS for the current year.

Comstock Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be issued a $0.125 dividend. The ex-dividend date is Wednesday, May 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.96%. Comstock Resources’s payout ratio is 10.00%.

Insider Transactions at Comstock Resources

In other Comstock Resources news, VP Brian Christopher Claunch acquired 5,000 shares of the stock in a transaction dated Wednesday, March 15th. The stock was purchased at an average cost of $10.08 per share, for a total transaction of $50,400.00. Following the acquisition, the vice president now owns 36,764 shares in the company, valued at approximately $370,581.12. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Comstock Resources news, VP Brian Christopher Claunch acquired 5,000 shares of the stock in a transaction dated Wednesday, March 15th. The stock was purchased at an average cost of $10.08 per share, for a total transaction of $50,400.00. Following the acquisition, the vice president now owns 36,764 shares in the company, valued at approximately $370,581.12. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Roland O. Burns acquired 10,000 shares of the stock in a transaction dated Thursday, March 23rd. The stock was acquired at an average price of $10.00 per share, with a total value of $100,000.00. Following the completion of the acquisition, the chief financial officer now owns 950,430 shares in the company, valued at approximately $9,504,300. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Comstock Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRK. Spire Wealth Management bought a new stake in Comstock Resources during the 3rd quarter valued at $35,000. Neo Ivy Capital Management purchased a new position in Comstock Resources during the 3rd quarter valued at $41,000. FNY Investment Advisers LLC purchased a new position in Comstock Resources during the 1st quarter valued at $48,000. CWM LLC increased its position in Comstock Resources by 15.3% during the 1st quarter. CWM LLC now owns 8,444 shares of the oil and gas producer’s stock valued at $91,000 after purchasing an additional 1,123 shares during the period. Finally, Pittenger & Anderson Inc. increased its position in Comstock Resources by 200.0% during the 3rd quarter. Pittenger & Anderson Inc. now owns 6,000 shares of the oil and gas producer’s stock valued at $104,000 after purchasing an additional 4,000 shares during the period. 35.22% of the stock is currently owned by institutional investors.

Comstock Resources Company Profile

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Comstock Resources, Inc engages in the acquisition, development, and exploration of oil and natural gas. The firm operations concentrated in the Haynesville shale, a premier natural gas basin located in East Texas. The company was founded in 1919 and is headquartered in Frisco, TX.