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

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

CRK has been the subject of a number of other research reports. The Goldman Sachs Group decreased their target price on Comstock Resources from $14.00 to $12.00 and set a sell rating for the company in a report on Wednesday, January 25th. Roth Capital reaffirmed a neutral rating on shares of Comstock Resources in a report on Tuesday, February 14th. StockNews.com assumed coverage on Comstock Resources in a report on Thursday, May 18th. They set a hold rating for the company. Truist Financial decreased their target price on Comstock Resources from $12.00 to $9.00 and set a hold rating for the company in a report on Tuesday, April 11th. Finally, Mizuho decreased their price target on Comstock Resources from $18.00 to $17.00 in a report on Friday, May 19th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $13.50.

Comstock Resources Price Performance

Shares of CRK stock opened at $10.08 on Monday. Comstock Resources has a fifty-two week low of $9.20 and a fifty-two week high of $22.11. The firm 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 debt-to-equity ratio of 0.91, a quick ratio of 0.67 and a current ratio of 0.67. The stock’s 50-day simple moving average is $10.50 and its 200-day simple moving average is $12.81.

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

Comstock Resources Announces Dividend

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

Insider Transactions at Comstock Resources

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

Institutional Trading of Comstock Resources

Large investors have recently added to or reduced their stakes in the stock. Spire Wealth Management purchased a new stake in Comstock Resources in the 3rd quarter valued at $35,000. Neo Ivy Capital Management purchased a new stake in Comstock Resources in the 3rd quarter valued at $41,000. FNY Investment Advisers LLC purchased a new stake in Comstock Resources in the 1st quarter valued at $48,000. Pittenger & Anderson Inc. grew its holdings in Comstock Resources by 200.0% in the 3rd quarter. Pittenger & Anderson Inc. now owns 6,000 shares of the oil and gas producer’s stock valued at $104,000 after buying an additional 4,000 shares in the last quarter. Finally, CI Investments Inc. purchased a new stake in Comstock Resources in the 4th quarter valued at $110,000. 35.22% of the stock is currently owned by hedge funds and other 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.