Comstock Resources, Inc. (NYSE:CRK) Receives Average Recommendation of “Reduce” from Analysts

Comstock Resources, Inc. (NYSE:CRK) has received an average rating of “Reduce” from the thirteen ratings firms that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $13.40.

Several equities research analysts have recently commented on the company. Morgan Stanley assumed coverage on Comstock Resources in a research note on Friday, January 10th. They issued an “equal weight” rating and a $18.00 target price for the company. Citigroup lifted their price objective on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Mizuho upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating and upped their target price for the company from $10.00 to $18.00 in a research report on Monday, December 16th. StockNews.com upgraded shares of Comstock Resources to a “sell” rating in a research report on Thursday, February 20th. Finally, Piper Sandler increased their price objective on shares of Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Wednesday, January 29th.

Comstock Resources Stock Up 6.1 %

Shares of NYSE:CRK opened at $17.96 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27. The firm has a market cap of $5.26 billion, a P/E ratio of -23.62, a P/E/G ratio of 1.65 and a beta of 0.55. Comstock Resources has a 12 month low of $7.74 and a 12 month high of $22.06. The company’s 50-day moving average price is $19.08 and its two-hundred day moving average price is $14.89.

Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, beating the consensus estimate of $0.02 by $0.14. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. The business had revenue of $366.51 million for the quarter, compared to analysts’ expectations of $370.62 million. As a group, research analysts forecast that Comstock Resources will post 0.54 EPS for the current fiscal year.

Insider Activity at Comstock Resources

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $16.33, for a total value of $163,300.00. Following the completion of the transaction, the director now directly owns 123,781 shares of the company’s stock, valued at approximately $2,021,343.73. The trade was a 7.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 38,000 shares of company stock worth $634,660 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of Comstock Resources

Several hedge funds have recently bought and sold shares of CRK. Bank of Montreal Can boosted its holdings in shares of Comstock Resources by 1.9% in the fourth quarter. Bank of Montreal Can now owns 40,983 shares of the oil and gas producer’s stock valued at $747,000 after buying an additional 772 shares during the period. Sunbelt Securities Inc. boosted its stake in Comstock Resources by 140.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock worth $27,000 after purchasing an additional 1,400 shares during the period. VSM Wealth Advisory LLC acquired a new stake in shares of Comstock Resources in the 4th quarter valued at about $27,000. Natixis Advisors LLC lifted its holdings in shares of Comstock Resources by 6.6% in the fourth quarter. Natixis Advisors LLC now owns 25,778 shares of the oil and gas producer’s stock valued at $470,000 after purchasing an additional 1,585 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Comstock Resources by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,539 shares of the oil and gas producer’s stock worth $957,000 after buying an additional 1,793 shares during the period. 36.13% of the stock is currently owned by institutional investors and hedge funds.

About Comstock Resources

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.