Comstock Resources (NYSE:CRK) Trading 5.8% Higher – Time to Buy?

Comstock Resources, Inc. (NYSE:CRK) traded up 5.8% during mid-day trading on Tuesday . The stock traded as high as $19.00 and last traded at $18.70. 180,466 shares were traded during trading, a decline of 94% from the average session volume of 2,840,504 shares. The stock had previously closed at $17.67.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CRK shares. Morgan Stanley started coverage on shares of Comstock Resources in a research report on Friday, January 10th. They issued an “equal weight” rating and a $18.00 target price on the stock. Piper Sandler boosted their target price on shares of Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Wednesday, January 29th. Citigroup raised their target price on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Truist Financial upped their price target on Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Finally, Williams Trading set a $13.00 price objective on Comstock Resources in a research report on Wednesday, March 5th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Comstock Resources currently has an average rating of “Hold” and an average target price of $13.36.

Comstock Resources Price Performance

The company’s 50-day simple moving average is $19.07 and its 200 day simple moving average is $15.11. The company has a market capitalization of $5.33 billion, a P/E ratio of -23.78, a P/E/G ratio of 1.65 and a beta of 0.55. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $366.51 million during the quarter, compared to analysts’ expectations of $370.62 million. As a group, sell-side analysts expect that Comstock Resources, Inc. will post 0.54 earnings per share 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 stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $16.33, for a total transaction of $163,300.00. Following the transaction, the director now owns 123,781 shares in the company, valued at $2,021,343.73. This trade represents a 7.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 38,000 shares of company stock valued at $634,660. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of Comstock Resources

Large investors have recently modified their holdings of the company. Pullen Investment Management LLC boosted its stake in Comstock Resources by 47.0% during the 4th quarter. Pullen Investment Management LLC now owns 88,296 shares of the oil and gas producer’s stock valued at $1,609,000 after purchasing an additional 28,251 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Comstock Resources in the fourth quarter worth $501,000. PharVision Advisers LLC bought a new position in Comstock Resources during the fourth quarter worth $295,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Comstock Resources by 19.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 147,725 shares of the oil and gas producer’s stock valued at $2,692,000 after purchasing an additional 24,320 shares during the last quarter. Finally, Vident Advisory LLC boosted its holdings in Comstock Resources by 23.4% in the 4th quarter. Vident Advisory LLC now owns 32,760 shares of the oil and gas producer’s stock valued at $597,000 after purchasing an additional 6,211 shares during the period. 36.13% of the stock is owned by institutional investors.

Comstock Resources Company Profile

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.