Comstock Resources (NYSE:CRK) Now Covered by Analysts at Bank of America

Equities research analysts at Bank of America began coverage on shares of Comstock Resources (NYSE:CRK - Get Free Report) in a note issued to investors on Monday, Marketbeat.com reports. The brokerage set a "buy" rating and a $14.00 price target on the oil and gas producer's stock. Bank of America's price target indicates a potential upside of 17.11% from the company's current price.

A number of other analysts have also weighed in on CRK. Siebert Williams Shank lowered Comstock Resources from a "hold" rating to a "sell" rating and set a $9.00 price objective on the stock. in a research report on Tuesday, October 15th. Piper Sandler downgraded shares of Comstock Resources from a "neutral" rating to an "underweight" rating and lowered their target price for the stock from $8.00 to $5.00 in a research note on Thursday, August 15th. Truist Financial upped 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. Mizuho decreased their price objective 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. Finally, BMO Capital Markets upped their price objective on shares of Comstock Resources from $10.00 to $11.00 and gave the company a "market perform" rating in a research note on Friday, October 4th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $10.31.

Comstock Resources Trading Down 0.4 %

NYSE CRK traded down $0.04 on Monday, reaching $11.96. The stock had a trading volume of 2,309,004 shares, compared to its average volume of 3,584,347. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 54.27 and a beta of 0.47. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.21. Comstock Resources has a 12-month low of $7.07 and a 12-month high of $13.39. The stock has a fifty day moving average price of $10.95 and a two-hundred day moving average price of $10.62.

Comstock Resources (NYSE:CRK - Get Free Report) last posted its quarterly earnings data 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 return on equity of 1.38% and a negative net margin of 1.48%. The company had revenue of $246.80 million for the quarter, compared to analysts' expectations of $296.02 million. The firm's quarterly revenue was down 14.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Comstock Resources will post -0.37 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Pullen Investment Management LLC increased its holdings in Comstock Resources by 16.1% in the third quarter. Pullen Investment Management LLC now owns 60,045 shares of the oil and gas producer's stock valued at $668,000 after buying an additional 8,312 shares in the last quarter. Glenorchy Capital Ltd increased its holdings in Comstock Resources by 91.1% in the third quarter. Glenorchy Capital Ltd now owns 197,713 shares of the oil and gas producer's stock valued at $2,201,000 after buying an additional 94,230 shares in the last quarter. Blue Trust Inc. grew its position in shares of Comstock Resources by 116.3% in the third quarter. Blue Trust Inc. now owns 6,715 shares of the oil and gas producer's stock valued at $70,000 after purchasing an additional 3,611 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Comstock Resources in the third quarter valued at approximately $215,000. Finally, SG Americas Securities LLC grew its position in shares of Comstock Resources by 269.4% in the third quarter. SG Americas Securities LLC now owns 55,044 shares of the oil and gas producer's stock valued at $613,000 after purchasing an additional 40,142 shares during the last quarter. 36.13% of the stock is owned by hedge funds and other institutional investors.

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.