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

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

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

Comstock Resources Price Performance

Shares of CRK stock opened at $19.95 on Thursday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. The company has a market capitalization of $5.84 billion, a PE ratio of -26.24, a price-to-earnings-growth ratio of 1.65 and a beta of 0.55. The firm’s 50-day moving average is $19.11 and its two-hundred day moving average is $15.53. Comstock Resources has a 12 month low of $7.74 and a 12 month high of $22.06.

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. The firm had revenue of $366.51 million for the quarter, compared to analyst estimates of $370.62 million. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. Analysts predict that Comstock Resources will post 0.54 earnings per share for the current year.

Insider Buying and Selling at Comstock Resources

In related news, Director Elizabeth B. Davis sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $16.98, for a total transaction of $169,800.00. Following the sale, the director now directly owns 107,632 shares in the company, valued at approximately $1,827,591.36. This represents a 8.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 28,000 shares of company stock valued at $478,460 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Comstock Resources

A number of large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of Comstock Resources by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 13,297,863 shares of the oil and gas producer’s stock worth $242,301,000 after purchasing an additional 227,638 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Comstock Resources by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 9,222,982 shares of the oil and gas producer’s stock worth $168,043,000 after buying an additional 126,380 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Comstock Resources by 6.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,505,808 shares of the oil and gas producer’s stock worth $27,436,000 after acquiring an additional 91,988 shares in the last quarter. Royce & Associates LP increased its holdings in shares of Comstock Resources by 13.0% in the 4th quarter. Royce & Associates LP now owns 779,410 shares of the oil and gas producer’s stock valued at $14,201,000 after acquiring an additional 89,630 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Comstock Resources during the 4th quarter worth about $11,891,000. 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.