Ultime notizie per Comstock Resources (NYSE:CRK) Azioni

Comstock Resources

Comstock Resources Inc is an independent energy company operating in the Haynesville shale, a natural gas basin located in East Texas and North Louisiana with superior economics and geographical proximity to the Gulf Coast markets. The Company operates in one business segment, the exploration and production of North American natural gas and oil. It is engaged in the acquisition, development, production, and exploration of oil and natural gas. Its oil and gas operations are concentrated in Louisiana and Texas.

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As of Oct. 8, 2024, two stocks in the energy sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">RPC Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RES#NYSE">RES</a>)</h3>
<ul>
<li>RPC said it will release its financial results for the third quarter ended Sept. 30 on Thursday, Oct. 24, before the market opens. The company's stock gained around 12% over the past five days and has a <a href="https://www.benzinga.com/quote/RES">52-week high of $9.26</a>.</li>
<li>RSI Value: 70.47&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>RES Price Action: Shares of RPC gained 2% to close at $7.14 on Monday.</li>
</ul>
<h3 class="wp-block-heading">Comstock Resources Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRK#NYSE">CRK</a>)</h3>
<ul>
<li>On Oct. 4, BMO Capital analyst Phillip Jungwirth maintained Comstock Resources with a Market Perform and raised the price target from $10 to $11. The company's stock gained around 30% over the past month and <a href="https://www.benzinga.com/quote/CRK">has a 52-week high</a> of $13.39.</li>
<li>RSI Value: 71.45</li>
<li>CRK Price Action: Shares of Comstock rose 0.3% to close at $12.09 on Monday.</li>
</ul>
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BMO Capital analyst Phillip Jungwirth maintains Comstock Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRK#NYSE">CRK</a>) with a Market Perform and raises the price target from $10 to $11.

Price Target

Analyst Ratings

BMO Capital Maintains Market Perform on Comstock Resources, Raises Price Target to $11

Across the recent three months, 4 analysts have shared their insights on Comstock Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRK#NYSE">CRK</a>), expressing a variety of opinions spanning from bullish to bearish.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $8.5, a high estimate of $10.00, and a low estimate of $5.00. Highlighting a 5.56% decrease, the current average has fallen from the previous average price target of $9.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1727708456_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
A clear picture of Comstock Resources's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Neal Dingmann</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$10.00</td>
<td>$9.00</td>
</tr>
<tr>
<td>Nitin Kumar</td>
<td>Mizuho</td>
<td>Lowers</td>
<td>Underperform</td>
<td>$10.00</td>
<td>$11.00</td>
</tr>
<tr>
<td>Mark Lear</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Underweight</td>
<td>$5.00</td>
<td>$8.00</td>
</tr>
<tr>
<td>Neal Dingmann</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$9.00</td>
<td>$8.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Comstock Resources. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Comstock Resources compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Comstock Resources's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Capture valuable insights into Comstock Resources's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/CRK/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Comstock Resources analyst ratings.</a>
<h2>Delving into Comstock Resources's Background</h2>
Comstock Resources Inc is an independent energy company operating in the Haynesville shale, a natural gas basin located in East Texas and North Louisiana with superior economics and geographical proximity to the Gulf Coast markets. The Company operates in one business segment, the exploration and production of North American natural gas and oil. It is engaged in the acquisition, development, production, and exploration of oil and natural gas. Its oil and gas operations are concentrated in Louisiana and Texas.
<h3>Comstock Resources's Economic Impact: An Analysis</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Challenges: Comstock Resources's revenue growth over 3 months faced difficulties. As of 30 June, 2024, the company experienced a decline of approximately -14.36%. This indicates a decrease in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Energy sector.
Net Margin: Comstock Resources's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of -51.17%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of -5.3%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): Comstock Resources's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of -2.0%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 1.27, caution is advised due to increased financial risk.
<h2>How Are Analyst Ratings Determined?</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

In-Depth Examination Of 4 Analyst Recommendations For Comstock Resources

Truist Securities analyst Neal Dingmann maintains Comstock Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRK#NYSE">CRK</a>) with a Hold and raises the price target from $9 to $10.

Truist Securities Maintains Hold on Comstock Resources, Raises Price Target to $10

The U.S. Energy Department&#39;s latest inventory report showed a slightly larger-than-expected increase in natural gas supplies. Despite this bearish data, futures ended the week higher, driven by forecasts for strong cooling demand.
However, natural gas remains down year to date, facing persistent challenges as the market reacts sharply to unpredictable weather patterns. Investors should focus on resilient stocks like Range Resources&nbsp;and Coterra Energy (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ctra#NYSE">CTRA</a>), while it may be wise to avoid higher-risk options like Comstock Resources (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crk#NYSE">CRK</a>) amid the prevailing market instability.
<h2>Natural Gas Build Larger Than Market Expectations</h2>
Stockpiles held in underground storage in the lower 48 states rose 58 billion cubic feet (Bcf) for the week ended Sept. 13, slightly above analysts&#39; guidance of a 57 Bcf addition. The increase compared with the five-year (2019-2023) average net injection of 80 Bcf and last year&#39;s growth of 62 Bcf for the reported week.
The weekly build put total natural gas stocks at 3,445 Bcf, which is 194 Bcf (6%) above the 2023 level and 274 Bcf (8.6%) higher than the five-year average.
The total supply of natural gas averaged 107.2 Bcf per day, down 0.6 Bcf per day on a weekly basis, due to lower shipments from Canada and falling dry production.
Meanwhile, daily consumption dropped to 95.4 Bcf from 96.6 Bcf in the previous week, mainly reflecting weakness in residential/commercial usage and a dip in deliveries to U.S. LNG export facilities.
<h2>Natural Gas Prices Still Finish Higher</h2>
Natural gas prices climbed last week, despite a slightly unfavorable inventory build. October futures closed at $2.434 on the New York Mercantile Exchange, marking a 5.4% increase, driven mainly by warmer weather forecasts. This is the fourth consecutive weekly rise, yet natural gas remains down more than 20% over the past three months. This follows a 47% surge in April and May. Prices even dipped to a four-month low of $1.88 in late August, underscoring the market&#39;s ongoing volatility.
Natural gas prices remain pressured by strong production, high stockpiles, and weak demand due to mild weather. Current inventories are significantly above last year&#39;s levels and the five-year average, signaling a bearish outlook. In response, companies like APA Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/apa#NASDAQ">APA</a>) and EQT Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/eqt#NYSE">EQT</a>) are scaling back drilling activities. APA plans to reduce natural gas output by 90 million cubic feet per day (MMcf/d) in Q3, following a 78 MMcf/d cut in Q2 due to low price realizations. Meanwhile, EQT, the largest U.S. natural gas producer, will maintain a daily production cut of 0.5 billion cubic feet through the year&#39;s second half.
Ironically, several companies had just resumed production that was deferred during the April-May price recovery, but the increased output quickly pushed prices down again, highlighting the market&#39;s fragility.
On the demand side, steady LNG feed gas deliveries continue to provide a strong boost for natural gas. U.S. LNG exports remain solid, fueled by environmental policies and Europe&#39;s push to reduce reliance on Russian gas amid the Ukraine conflict. As winter approaches, the global LNG market anticipates strong demand.
<h2>What Should Investors Do with Natural Gas Stocks?</h2>
The natural gas market continues to struggle with oversupply, still feeling the effects of a challenging 2023 when prices briefly dipped below $2 for the first time since 2020.
A short-lived rally, driven by favorable weather and reduced production, offered temporary relief. However, prices have since declined again, leading producers to cut output further.
In this volatile environment, with shifts in weather and production dynamics, investors should remain cautious. Focusing on fundamentally strong stocks like Range Resources and Coterra Energy may offer more stability amid the uncertainty.
Range Resources: The company is an U.S. independent natural gas producer with operations focused in the Appalachian Basin. Range Resources&#39; large contiguous acreage position provides more than 30 years of low-breakeven, high-return inventory. This Zacks Rank #3 (Hold) company produced an average of 2,152.9 million cubic feet equivalent daily from these assets in the second quarter of 2024 &mdash; 69% natural gas.
Range Resources beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 31.6%. Valued at around $7.4 billion, RRC has risen 8% in a year.
Coterra Energy: It is an independent upstream operator primarily engaged in the exploration, development and production of natural gas. Headquartered in Houston, TX, the firm owns some 183,000 net acres in the gas-producing Marcellus Shale of the Appalachian Basin. This #3 Ranked company churned out an average of 2,779.8 million cubic feet daily of the commodity from these assets in the June quarter.
Coterra beat the Zacks Consensus Estimate for earnings in two of the trailing four quarters and missed in the other two, the average being 5.9%. Valued at around $17.5 billion, CTRA has risen 5.4% in a year.
On the other hand, companies like Comstock Resources appear risky in the near term. CRK is a leading independent natural gas producer with operations focused on the Haynesville Shale in North Louisiana and East Texas.
Reflecting the negative sentiment around natural gas, the Zacks Consensus Estimate for the Zacks Rank #5 (Strong Sell) company&#39;s EPS has seen downward revisions. Over the past 30 days, analysts have lowered their estimates for both the current quarter and fiscal year by 30% and 12%, respectively.
<a href="https://www.zacks.com/stock/news/2340098/2-natural-gas-stocks-worth-a-closer-look-amid-price-volatility?cid=CS-BENZ-FT-analyst_blog|industry_focus-2340098">To read this article on Zacks.com click here.</a>

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Mizuho analyst Nitin Kumar maintains Comstock Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRK#NYSE">CRK</a>) with a Underperform and lowers the price target from $11 to $10.

Mizuho Maintains Underperform on Comstock Resources, Lowers Price Target to $10

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Shares of oil and gas companies are trading lower as traders assess supply disruption in Libya and reports of soft demand in China. Data showed a smaller-than-expected draw in crude oil inventories and the EIA reported a build in weekly distillates stocks.

Although U.S. stocks closed lower on Thursday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#8217;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions </a>platform.
<h3 class="wp-block-heading">American Public Education</h3>
<ul>
<li>The Trade: American Public Education, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APEI#NASDAQ">APEI</a>) 325 Capital GP, LLC a<a href="https://www.benzinga.com/quote/APEI/analyst-ratings">cquired a total of 73,022 shares at</a>  an average price of $14.16. To acquire these shares, it cost around $1.03 million.</li>
<li>What's Happening: On Aug. 6, American Public Education reported worse-than-expected second-quarter financial results.</li>
<li>What American Public Education Does: American Public Education Inc provides online and on-campus postsecondary education including various undergraduate and graduate degree programs.</li>
</ul>
<h3 class="wp-block-heading">Comstock Resources</h3>
<ul>
<li>The Trade: Comstock Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRK#NYSE">CRK</a>) Director Mark A Alexander acquired a total of 3,132,600 shares at an average price of $10.99. To acquire these shares, it cost around $34.4 million.</li>
<li>What's Happening: On Aug. 15, Piper Sandler analyst Mark Lear downgraded Comstock Resources from Neutral to Underweight and lowered the price target from $8 to $5.</li>
<li>What Comstock Resources Does: Comstock Resources Inc is an independent energy company operating in the Haynesville shale, a natural gas basin located in East Texas and North Louisiana with superior economics and geographical proximity to the Gulf Coast markets.</li>
</ul>
<h3 class="wp-block-heading">Madison Square Garden Entertainment</h3>
<ul>
<li>The Trade: Madison Square Garden Entertainment Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSGE#NYSE">MSGE</a>) Director Frederic V Salerno <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 5,000 shares </a>at an average price of $41.25. To acquire these shares, it cost around $206,250.</li>
<li>What's Happening: On Aug 16, the company said revenue rose 26% year-on-year to $186.1 million, beating the analyst consensus estimate of $169.6 million..</li>
<li>What Madison Square Garden Entertainment Does: Madison Square Garden Entertainment Corp provides live entertainment, delivering unforgettable experiences while forging deep connections with diverse and passionate audiences.</li>
</ul>
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Although U.S. stocks closed higher on Thursday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#8217;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Kratos Defense &amp; Security</h3>
<ul>
<li>The Trade: Kratos Defense &amp; Security Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTOS#NASDAQ">KTOS</a>) President and CEO Eric M Demarco <a href="https://www.benzinga.com/quote/KTOS/analyst-ratings">acquired a total of 12,396 shares</a> at an average price of $20.19. To acquire these shares, it cost around $250,254.</li>
<li>What's Happening: On Aug. 7, Kratos Defense &amp; Security posted upbeat quarterly results.</li>
<li>What Kratos Defense &amp; Security Does: Kratos Defense &amp; Security Solutions Inc develops and fields transformative, affordable technology, platforms, and systems.</li>
</ul>
<h3 class="wp-block-heading">Comstock Resources</h3>
<ul>
<li>The Trade: Comstock Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRK#NYSE">CRK</a>) 10% owner Jerral W. Jones acquired a total of 2,945,694 shares at an average price of $10.43. To acquire these shares, it cost around $30.7 million.</li>
<li>What's Happening: On Aug. 15, Piper Sandler analyst Mark Lear downgraded Comstock Resources from Neutral to Underweight and lowered the price target from $8 to $5..</li>
<li>What Comstock Resources Does: Comstock Resources Inc is an independent energy company operating in the Haynesville shale, a natural gas basin located in East Texas and North Louisiana with superior economics and geographical proximity to the Gulf Coast markets.</li>
</ul>
<h3 class="wp-block-heading">nVent Electric</h3>
<ul>
<li>The Trade: nVent Electric plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVT#NYSE">NVT</a>) Director Herbert K Parker <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 7,566 shares</a> at an average price of $65.71. To acquire these shares, it cost around $497,198.</li>
<li>What's Happening: On Aug. 6, NVent Electric reported worse-than-expected second-quarter sales results.</li>
<li>What nVent Electric Does: nVent Electric PLC is a provider of electrical connection and protection solutions. The company segments include Enclosures, Thermal Management, and Electrical and Fastening Solutions.</li>
</ul>
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40394036/jim-cramer-recommends-buying-clorox-ceo-has-done-remarkable-job">Jim Cramer Recommends Buying Clorox: &#8216;CEO Has Done Remarkable Job&#8217;</a></li>
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Piper Sandler analyst Mark Lear downgrades Comstock Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRK#NYSE">CRK</a>) from Neutral to Underweight and lowers the price target from $8 to $5.

Downgrades

Piper Sandler Downgrades Comstock Resources to Underweight, Lowers Price Target to $5

Although U.S. stocks closed mixed on Monday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#8217;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Coupang</h3>
<ul>
<li>The Trade: Coupang, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPNG#NASDAQ">CPNG</a>) Director Neil Mehta <a href="https://www.benzinga.com/quote/CPNG/analyst-ratings">acquired a total of 950,000 shares </a> at an average price of $22.34. To acquire these shares, it cost around $21.2 million.</li>
<li>What's Happening: On Aug. 6, Coupang reported better-than-expected second-quarter adjusted EPS results.</li>
<li>What Coupang Does: Coupang Inc is an e-commerce company. It sells apparel, electronics, footwear, food products, furniture, nutritional supplements, and other products.</li>
</ul>
<h3 class="wp-block-heading">Comstock Resources</h3>
<ul>
<li>The Trade: Comstock Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRK#NYSE">CRK</a>) 10% owner Jerral W. Jones acquired a total of 2,633,634 shares at an average price of $9.79. To acquire these shares, it cost around $25.8 million.</li>
<li>What's Happening: On July 30, Comstock Resources posted worse-than-expected second-quarter financial results.</li>
<li>What Comstock Resources Does: Comstock Resources Inc is an independent energy company operating in the Haynesville shale, a natural gas basin located in East Texas and North Louisiana with superior economics and geographical proximity to the Gulf Coast markets.</li>
</ul>
<h3 class="wp-block-heading">ArcBest</h3>
<ul>
<li>The Trade: ArcBest Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) Director Salvatore A Abbate <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 1,000 share</a>s at an average price of $103.93. To acquire these shares, it cost around $103,930.</li>
<li>What's Happening: On Aug. 2, ArcBest reported worse-than-expected second-quarter adjusted EPS results.</li>
<li>What ArcBest Does: ArcBest Corp is engaged in logistics operations. The company operates in two operating segments, The Asset-Based segment includes the results of operations of ABF Freight System, Inc. and certain other subsidiaries.</li>
</ul>
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$21M Bet On Coupang? Check Out These 3 Stocks Insiders Are Buying

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Shares of oil and gas companies are trading higher amid a rebound in the price of oil.

Although U.S. stocks closed lower on Wednesday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#8217;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions </a>platform.
<h3 class="wp-block-heading">Comstock Resources</h3>
<ul>
<li>The Trade: Comstock Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRK#NYSE">CRK</a>) 10% owner Jerral W. Jones <a href="https://www.benzinga.com/quote/CRK/analyst-ratings">acquired a total of 2,476,736 shares</a> at an average price of $8.49. To acquire these shares, it cost around $21.03 million.</li>
<li>What's Happening: On July 30, Comstock Resources posted worse-than-expected second-quarter financial results.</li>
<li>What Comstock Resources Does: Comstock Resources Inc is an independent energy company operating in the Haynesville shale, a natural gas basin located in East Texas and North Louisiana with superior economics and geographical proximity to the Gulf Coast markets.</li>
</ul>
<h3 class="wp-block-heading">Intel</h3>
<ul>
<li>The Trade: Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) CEO Patrick P Gelsinger acquired a total of 12,500 shares at &lt;/em&gt;&lt;/a&gt; an average price of $20.16. To acquire these shares, it cost around $251,946.</li>
<li>What's Happening: Intel is set to slash its workforce after receiving billions of dollars from the federal government.</li>
<li>What Intel Does: Intel is a leading digital chipmaker, focused on the design and manufacturing of microprocessors for the global personal computer and data center markets.</li>
</ul>
PBF Energy
<ul>
<li>The Trade: PBF Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBF#NYSE">PBF</a>) 10% owner Control Empresarial de Capitales S.A. de C.V. <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 150,000 shares</a> at an average price of $35.84. To acquire these shares, it cost around $5.4 million.</li>
<li>What's Happening: On Aug. 1, PBF Energy posted a wider-than-expected quarterly loss.</li>
<li>What PBF Energy Does: PBF Energy Inc is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States.</li>
</ul>
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$21M Bet On Comstock Resources? Check Out These 3 Stocks Insiders Are Buying

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Shares of oil and gas stocks are trading lower despite Middle East tensions. Weak US economic data may be weighing on demand outlook.

Comstock Resources shares are trading lower following worse-than-expected Q2 financial results.

Comstock Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRK#NYSE">CRK</a>) reported quarterly losses of $(0.43) per share which missed the analyst consensus estimate of $(0.16) by 168.75 percent. The company reported quarterly sales of $246.80 million which missed the analyst consensus estimate of $296.69 million by 16.82 percent. This is a 14.37 percent decrease over sales of $288.21 million the same period last year.

Earnings Misses

Comstock Resources Q2 2024 Adj EPS $(0.43) Misses $(0.16) Estimate, Sales $246.80M Miss $296.69M Estimate

Analysts' ratings for Comstock Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRK#NYSE">CRK</a>) over the last quarter vary from bullish to bearish, as provided by 3 analysts.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Comstock Resources, revealing an average target of $10.0, a high estimate of $11.00, and a low estimate of $9.00. Observing a 11.11% increase, the current average has risen from the previous average price target of $9.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1721667668_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
The analysis of recent analyst actions sheds light on the perception of Comstock Resources by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Neal Dingmann</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$9.00</td>
<td>$8.00</td>
</tr>
<tr>
<td>Umang Choudhary</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Sell</td>
<td>$10.00</td>
<td>$9.00</td>
</tr>
<tr>
<td>Nitin Kumar</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Underperform</td>
<td>$11.00</td>
<td>$10.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Comstock Resources. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Comstock Resources compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Comstock Resources's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
To gain a panoramic view of Comstock Resources's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/CRK/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Comstock Resources analyst ratings.</a>
<h2>Discovering Comstock Resources: A Closer Look</h2>
Comstock Resources Inc is an independent energy company operating in the Haynesville shale, a natural gas basin located in East Texas and North Louisiana with superior economics and geographical proximity to the Gulf Coast markets. The Company operates in one business segment, the exploration and production of North American natural gas and oil. It is engaged in the acquisition, development, production, and exploration of oil and natural gas. Its oil and gas operations are concentrated in Louisiana and Texas.
<h3>Comstock Resources: Financial Performance Dissected</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Decline in Revenue: Over the 3 months period, Comstock Resources faced challenges, resulting in a decline of approximately -31.42% in revenue growth as of 31 March, 2024. This signifies a reduction in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Energy sector.
Net Margin: Comstock Resources's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of -4.86%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Comstock Resources's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of -0.68%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of -0.26%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: Comstock Resources's debt-to-equity ratio is notably higher than the industry average. With a ratio of 1.15, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<h2>How Are Analyst Ratings Determined?</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Expectations For Comstock Resources's Future

Truist Securities analyst Neal Dingmann maintains Comstock Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRK#NYSE">CRK</a>) with a Hold and raises the price target from $8 to $9.

Truist Securities Maintains Hold on Comstock Resources, Raises Price Target to $9

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COMSTOCK RESOURCES, INC. REPORTS FOURTH QUARTER 2023 FINANCIAL AND OPERATING RESULTS

COMSTOCK RESOURCES, INC. ANNOUNCES $100.5 MILLION INVESTMENT BY MAJORITY SHAREHOLDER

COMSTOCK RESOURCES, INC. ANNOUNCES PRIVATE OFFERING OF 6.75% SENIOR NOTES DUE IN 2029

COMSTOCK RESOURCES, INC. ANNOUNCES UPSIZE AND PRICING OF $400.0 MILLION OFFERING OF SENIOR NOTES DUE 2029

COMSTOCK RESOURCES, INC. ANNOUNCES FIRST QUARTER 2024 EARNINGS DATE AND  CONFERENCE CALL INFORMATION

COMSTOCK RESOURCES, INC. REPORTS FIRST QUARTER 2024 FINANCIAL AND OPERATING RESULTS

COMSTOCK RESOURCES, INC. ANNOUNCES SECOND QUARTER 2024 EARNINGS DATE AND  CONFERENCE CALL INFORMATION

COMSTOCK RESOURCES, INC. REPORTS SECOND QUARTER 2024 FINANCIAL AND OPERATING RESULTS

WhiteHawk Energy Announces Natural Gas Mineral and Royalty Acquisition of 435,000 Gross Unit Acres in Core of Marcellus Shale

COMSTOCK RESOURCES, INC. ANNOUNCES THIRD QUARTER 2024 EARNINGS DATE AND  CONFERENCE CALL INFORMATION

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