Comstock Resources, Inc. (NYSE:CRK) Receives $13.36 Average PT from Analysts

Shares of Comstock Resources, Inc. (NYSE:CRK) have been given an average recommendation of “Reduce” by the thirteen research firms that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $13.73.

Several brokerages have issued reports on CRK. Citigroup lifted their target price on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Truist Financial upped their price objective on shares of Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Morgan Stanley reiterated a “cautious” rating and issued a $22.00 price objective (up previously from $21.00) on shares of Comstock Resources in a report on Wednesday. Williams Trading set a $13.00 target price on shares of Comstock Resources in a research note on Wednesday, March 5th. Finally, Piper Sandler upped their price target on Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Wednesday, January 29th.

Insider Buying and Selling

In other Comstock Resources news, Director Elizabeth B. Davis sold 8,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $18.17, for a total value of $145,360.00. Following the transaction, the director now owns 99,632 shares of the company’s stock, valued at $1,810,313.44. This represents a 7.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Comstock Resources

A number of institutional investors and hedge funds have recently made changes to their positions in CRK. Empowered Funds LLC boosted its position in shares of Comstock Resources by 8.7% during the 3rd quarter. Empowered Funds LLC now owns 31,536 shares of the oil and gas producer’s stock worth $351,000 after purchasing an additional 2,534 shares during the period. Quest Partners LLC boosted its position in shares of Comstock Resources by 2,818,600.0% during the third quarter. Quest Partners LLC now owns 28,187 shares of the oil and gas producer’s stock worth $314,000 after buying an additional 28,186 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Comstock Resources in the third quarter valued at $419,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Comstock Resources by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,413,820 shares of the oil and gas producer’s stock valued at $15,736,000 after buying an additional 57,376 shares during the period. Finally, FMR LLC lifted its stake in Comstock Resources by 266.2% during the 3rd quarter. FMR LLC now owns 25,415 shares of the oil and gas producer’s stock worth $283,000 after acquiring an additional 18,475 shares in the last quarter. 36.13% of the stock is owned by hedge funds and other institutional investors.

Comstock Resources Trading Up 0.2 %

CRK stock opened at $19.87 on Wednesday. Comstock Resources has a 12-month low of $7.74 and a 12-month high of $22.06. The business’s 50-day moving average is $19.01 and its 200 day moving average is $15.85. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of -26.14, a PEG ratio of 1.65 and a beta of 0.55.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results 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 return on equity of 3.10% and a negative net margin of 18.32%. The firm had revenue of $366.51 million for the quarter, compared to analyst estimates of $370.62 million. On average, sell-side analysts anticipate that Comstock Resources will post 0.54 EPS for the current fiscal year.

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.