Comstock Resources, Inc. (NYSE:CRK - Get Free Report)'s stock price gapped down before the market opened on Thursday . The stock had previously closed at $10.51, but opened at $10.24. Comstock Resources shares last traded at $10.30, with a volume of 327,149 shares traded.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on CRK. Stifel Nicolaus cut their price objective on shares of Comstock Resources from $14.00 to $13.50 and set a "buy" rating on the stock in a report on Tuesday, April 23rd. Capital One Financial lowered shares of Comstock Resources from an "overweight" rating to an "equal weight" rating in a report on Wednesday, May 15th. Mizuho lifted their price objective on shares of Comstock Resources from $10.00 to $11.00 and gave the company an "underperform" rating in a report on Monday, May 13th. KeyCorp began coverage on shares of Comstock Resources in a report on Thursday, June 27th. They set a "sector weight" rating on the stock. Finally, Piper Sandler lowered shares of Comstock Resources from a "neutral" rating to an "underweight" rating and cut their price objective for the company from $8.00 to $5.00 in a report on Thursday. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $9.75.
View Our Latest Stock Report on Comstock Resources
Comstock Resources Trading Up 0.1 %
The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 48.41 and a beta of 0.51. The company has a quick ratio of 0.64, a current ratio of 0.59 and a debt-to-equity ratio of 1.21. The company's 50 day simple moving average is $10.45 and its two-hundred day simple moving average is $9.64.
Comstock Resources (NYSE:CRK - Get Free Report) last announced its earnings results on Tuesday, July 30th. The oil and gas producer reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.04). Comstock Resources had a negative net margin of 1.48% and a negative return on equity of 1.38%. The firm had revenue of $246.80 million during the quarter, compared to analyst estimates of $296.02 million. The business's revenue for the quarter was down 14.4% compared to the same quarter last year. As a group, research analysts anticipate that Comstock Resources, Inc. will post -0.13 earnings per share for the current fiscal year.
Insider Transactions at Comstock Resources
In related news, major shareholder Drilling L.P. Arkoma acquired 981,898 shares of the stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $10.13 per share, for a total transaction of $9,946,626.74. Following the completion of the purchase, the insider now owns 199,931,799 shares of the company's stock, valued at approximately $2,025,309,123.87. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, major shareholder Drilling L.P. Arkoma acquired 981,898 shares of the stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $10.13 per share, for a total transaction of $9,946,626.74. Following the completion of the purchase, the insider now owns 199,931,799 shares of the company's stock, valued at approximately $2,025,309,123.87. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Star Exploration Corp Blue acquired 825,000 shares of the stock in a transaction dated Monday, August 5th. The shares were bought at an average price of $8.16 per share, with a total value of $6,732,000.00. Following the completion of the purchase, the insider now directly owns 195,646,429 shares of the company's stock, valued at approximately $1,596,474,860.64. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 3,458,634 shares of company stock worth $32,023,254. Company insiders own 1.50% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in Comstock Resources by 26.3% during the second quarter. Dimensional Fund Advisors LP now owns 11,696,540 shares of the oil and gas producer's stock valued at $121,414,000 after purchasing an additional 2,438,252 shares during the period. Vanguard Group Inc. increased its holdings in Comstock Resources by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 10,829,100 shares of the oil and gas producer's stock valued at $95,838,000 after buying an additional 34,231 shares in the last quarter. American Century Companies Inc. increased its holdings in Comstock Resources by 19.0% in the second quarter. American Century Companies Inc. now owns 2,270,435 shares of the oil and gas producer's stock valued at $23,567,000 after buying an additional 362,043 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Comstock Resources by 10.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,015,403 shares of the oil and gas producer's stock valued at $8,986,000 after buying an additional 93,140 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Comstock Resources by 775.4% in the second quarter. Millennium Management LLC now owns 875,371 shares of the oil and gas producer's stock valued at $9,086,000 after buying an additional 775,371 shares in the last quarter. 36.13% of the stock is currently owned by institutional investors and hedge funds.
About Comstock Resources
(Get Free Report)
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.
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