Comstock Resources (NYSE:CRK) Price Target Lowered to $21.00 at Mizuho

Comstock Resources (NYSE:CRK) had its price objective reduced by stock analysts at Mizuho from $25.00 to $21.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas producer’s stock. Mizuho’s price objective would suggest a potential upside of 59.21% from the stock’s previous close.

Several other analysts have also recently weighed in on the stock. UBS Group reiterated a “sell” rating and issued a $13.00 price objective (down from $17.00) on shares of Comstock Resources in a research note on Monday, May 11th. Citigroup reiterated a “neutral” rating on shares of Comstock Resources in a research report on Wednesday, April 15th. Wall Street Zen cut shares of Comstock Resources from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 9th. Williams Trading set a $16.00 target price on shares of Comstock Resources in a report on Thursday, May 14th. Finally, Morgan Stanley reduced their price objective on shares of Comstock Resources from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Comstock Resources currently has a consensus rating of “Reduce” and an average target price of $18.89.

Comstock Resources Trading Down 5.4%

CRK opened at $13.19 on Wednesday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.96. Comstock Resources has a 12 month low of $13.16 and a 12 month high of $31.17. The firm’s fifty day simple moving average is $17.63 and its 200 day simple moving average is $20.75. The stock has a market capitalization of $3.87 billion, a P/E ratio of 6.02 and a beta of 0.22.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.08). Comstock Resources had a net margin of 27.18% and a return on equity of 5.54%. The business had revenue of $587.35 million during the quarter, compared to analyst estimates of $554.02 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, research analysts anticipate that Comstock Resources will post 0.64 EPS for the current fiscal year.

Insider Transactions at Comstock Resources

In related news, VP Patrick Mcgough sold 48,915 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $21.20, for a total transaction of $1,036,998.00. Following the completion of the sale, the vice president owned 187,516 shares in the company, valued at approximately $3,975,339.20. This trade represents a 20.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Comstock Resources

Several large investors have recently modified their holdings of CRK. Rothschild Investment LLC increased its stake in shares of Comstock Resources by 740.4% in the fourth quarter. Rothschild Investment LLC now owns 1,143 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 1,007 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Comstock Resources in the third quarter worth about $27,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Comstock Resources in the first quarter worth about $29,000. Kemnay Advisory Services Inc. purchased a new position in shares of Comstock Resources in the fourth quarter worth about $29,000. Finally, Jones Financial Companies Lllp increased its stake in shares of Comstock Resources by 671.2% in the third quarter. Jones Financial Companies Lllp now owns 1,581 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 1,376 shares in the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Comstock Resources Company Profile

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.