Comstock Resources (NYSE:CRK – Get Free Report) had its price target dropped by stock analysts at Mizuho from $25.00 to $21.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas producer’s stock. Mizuho’s target price would suggest a potential upside of 59.21% from the stock’s current price.
Several other equities analysts have also recently commented on the stock. Wall Street Zen cut shares of Comstock Resources from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 9th. Morgan Stanley reduced their price objective on shares of Comstock Resources from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Friday, May 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Comstock Resources in a research note on Wednesday, May 20th. Citigroup reaffirmed a “neutral” rating on shares of Comstock Resources in a research note on Wednesday, April 15th. Finally, Williams Trading set a $16.00 price objective on shares of Comstock Resources in a research note on Thursday, May 14th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $18.89.
View Our Latest Stock Analysis on Comstock Resources
Comstock Resources Price Performance
Comstock Resources (NYSE:CRK – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $0.15 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.08). The firm had revenue of $587.35 million for the quarter, compared to analysts’ expectations of $554.02 million. Comstock Resources had a net margin of 27.18% and a return on equity of 5.54%. Comstock Resources’s revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 EPS. As a group, sell-side analysts forecast that Comstock Resources will post 0.64 EPS for the current fiscal year.
Insider Transactions at Comstock Resources
In other news, VP Patrick Mcgough sold 48,915 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $21.20, for a total value of $1,036,998.00. Following the completion of the sale, the vice president directly owned 187,516 shares in the company, valued at approximately $3,975,339.20. The trade was a 20.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.20% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Comstock Resources
A number of hedge funds have recently made changes to their positions in the business. State Street Corp lifted its holdings in shares of Comstock Resources by 3.7% in the 4th quarter. State Street Corp now owns 4,483,203 shares of the oil and gas producer’s stock worth $103,921,000 after acquiring an additional 161,093 shares during the last quarter. Dragoneer Investment Group LLC bought a new stake in shares of Comstock Resources in the 4th quarter worth approximately $99,632,000. Bank of America Corp DE lifted its holdings in shares of Comstock Resources by 5.1% in the 3rd quarter. Bank of America Corp DE now owns 1,948,702 shares of the oil and gas producer’s stock worth $38,643,000 after acquiring an additional 94,856 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Comstock Resources by 50.5% in the 3rd quarter. Woodline Partners LP now owns 1,231,916 shares of the oil and gas producer’s stock worth $24,429,000 after acquiring an additional 413,611 shares during the last quarter. Finally, Aventail Capital Group LP lifted its holdings in shares of Comstock Resources by 149.9% in the 3rd quarter. Aventail Capital Group LP now owns 1,143,721 shares of the oil and gas producer’s stock worth $22,680,000 after acquiring an additional 686,002 shares during the last quarter. 36.13% of the stock is currently owned by institutional investors.
About Comstock Resources
Comstock Resources, Inc is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties in the United States. The company focuses on generating long-term value through the efficient development of unconventional resource plays and conventional prospects. Its activities encompass drilling, completion and production operations, as well as the marketing of natural gas, natural gas liquids and crude oil.
Comstock holds a core position in the Haynesville Shale of Northwest Louisiana, one of the most active natural gas plays in North America, and has built a complementary portfolio in the Delaware Basin of West Texas.
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