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

Comstock Resources, Inc. (NYSE:CRK) has received an average rating of “Reduce” from the thirteen ratings firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $13.30.

A number of equities analysts recently commented on the company. Bank of America started coverage on Comstock Resources in a report on Monday, October 28th. They set a “buy” rating and a $14.00 target price for the company. BMO Capital Markets lifted their price objective on shares of Comstock Resources from $10.00 to $11.00 and gave the company a “market perform” rating in a report on Friday, October 4th. Truist Financial increased their target price on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a report on Monday. Siebert Williams Shank downgraded shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price target for the company. in a research note on Tuesday, October 15th. Finally, Morgan Stanley started coverage on Comstock Resources in a research note on Friday, January 10th. They issued an “equal weight” rating and a $18.00 price objective on the stock.

Insider Buying and Selling at Comstock Resources

In other news, Director Elizabeth B. Davis sold 10,000 shares of the firm’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 transaction, the director now directly owns 123,781 shares in the company, valued at $2,021,343.73. This trade represents a 7.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 38,000 shares of company stock valued at $634,660. Company insiders own 2.00% of the company’s stock.

Institutional Trading of Comstock Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Doliver Advisors LP boosted its position in shares of Comstock Resources by 3.9% in the third quarter. Doliver Advisors LP now owns 26,455 shares of the oil and gas producer’s stock worth $294,000 after buying an additional 988 shares during the period. XTX Topco Ltd grew its stake in shares of Comstock Resources by 4.8% during the second quarter. XTX Topco Ltd now owns 28,791 shares of the oil and gas producer’s stock valued at $299,000 after acquiring an additional 1,330 shares in the last quarter. Sunbelt Securities Inc. increased its position in shares of Comstock Resources by 140.0% during the third quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock worth $27,000 after acquiring an additional 1,400 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Comstock Resources by 2.9% in the second quarter. The Manufacturers Life Insurance Company now owns 57,876 shares of the oil and gas producer’s stock worth $601,000 after acquiring an additional 1,656 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in Comstock Resources by 6.9% in the second quarter. Arizona State Retirement System now owns 28,630 shares of the oil and gas producer’s stock valued at $297,000 after purchasing an additional 1,848 shares during the last quarter. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Price Performance

NYSE:CRK opened at $21.52 on Friday. Comstock Resources has a one year low of $7.07 and a one year high of $21.75. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a 50 day moving average price of $16.46 and a 200 day moving average price of $12.72. The stock has a market cap of $6.29 billion, a PE ratio of -119.53 and a beta of 0.51.

Comstock Resources (NYSE:CRK) last posted its earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The business had revenue of $304.50 million for the quarter, compared to analyst estimates of $308.75 million. Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. Comstock Resources’s revenue was down 19.2% compared to the same quarter last year. During the same period last year, the business earned $0.04 EPS. Equities research analysts expect that Comstock Resources will post -0.43 EPS for the current fiscal year.

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.