Comstock Resources (NYSE:CRK) Upgraded to Sell at StockNews.com

StockNews.com upgraded shares of Comstock Resources (NYSE:CRK) to a sell rating in a report published on Thursday morning.

A number of other equities analysts have also commented on CRK. Citigroup lifted their price objective on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Morgan Stanley started coverage on Comstock Resources in a report on Friday, January 10th. They set an “equal weight” rating and a $18.00 price target on the stock. Truist Financial increased their price target on Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $10.00 to $18.00 in a report on Monday, December 16th. Finally, Williams Trading set a $13.00 price target on Comstock Resources in a 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 stock. Based on data from MarketBeat, Comstock Resources has an average rating of “Hold” and a consensus price target of $13.36.

Comstock Resources Stock Performance

Shares of CRK stock opened at $19.87 on Thursday. The business’s 50-day moving average price is $19.11 and its 200-day moving average price is $15.43. Comstock Resources has a 12 month low of $7.74 and a 12 month high of $22.06. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of -26.14, a PEG ratio of 1.65 and a beta of 0.55. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.14. The company had revenue of $366.51 million for the quarter, compared to analyst estimates of $370.62 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. Equities research analysts forecast that Comstock Resources will post 0.54 EPS for the current year.

Insider Activity at Comstock Resources

In related news, Director Elizabeth B. Davis sold 10,000 shares of the stock in a transaction on Friday, December 27th. The stock was sold at an average price of $16.98, for a total value of $169,800.00. Following the completion of the sale, the director now directly owns 107,632 shares of the company’s stock, valued at approximately $1,827,591.36. This represents a 8.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 28,000 shares of company stock valued at $478,460. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Comstock Resources

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