Comstock Resources (NYSE:CRK) Hits New 1-Year High – Time to Buy?

Comstock Resources, Inc. (NYSE:CRK) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $17.90 and last traded at $17.90, with a volume of 10127 shares traded. The stock had previously closed at $17.09.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Truist Financial lifted their price objective on Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Siebert Williams Shank downgraded shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 target price for the company. in a report on Tuesday, October 15th. Mizuho raised Comstock Resources from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $10.00 to $18.00 in a research report on Monday, December 16th. Citigroup increased their target price on shares of Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Bank of America started coverage on Comstock Resources in a research note on Monday, October 28th. They issued a “buy” rating and a $14.00 price objective on the stock. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $11.78.

Comstock Resources Stock Up 4.7 %

The company has a market capitalization of $5.23 billion, a PE ratio of -99.44 and a beta of 0.57. 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 company’s 50-day moving average is $14.36 and its 200 day moving average is $11.91.

Comstock Resources (NYSE:CRK) last posted its earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The business had revenue of $304.50 million during the quarter, compared to the consensus estimate of $308.75 million. During the same period in the previous year, the business posted $0.04 EPS. The firm’s revenue for the quarter was down 19.2% on a year-over-year basis. As a group, analysts anticipate that Comstock Resources, Inc. will post -0.44 EPS for the current year.

Insider Transactions at Comstock Resources

In related news, Director Elizabeth B. Davis sold 10,000 shares of the business’s 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 completion of the transaction, the director now directly owns 123,781 shares in the company, valued at approximately $2,021,343.73. The trade was a 7.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 30,000 shares of company stock worth $489,300 in the last quarter. Company insiders own 2.00% of the company’s stock.

Institutional Trading of Comstock Resources

Hedge funds have recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new position in Comstock Resources in the 3rd quarter worth about $25,000. Sunbelt Securities Inc. boosted its holdings in shares of Comstock Resources by 140.0% in the third 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 period. EverSource Wealth Advisors LLC grew its stake in Comstock Resources by 2,533.8% in the second quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 3,446 shares in the last quarter. Blue Trust Inc. increased its holdings in Comstock Resources by 116.3% during the 3rd quarter. Blue Trust Inc. now owns 6,715 shares of the oil and gas producer’s stock worth $70,000 after purchasing an additional 3,611 shares during the period. Finally, Choreo LLC bought a new stake in Comstock Resources during the 2nd quarter valued at $105,000. 36.13% of the stock is owned by hedge funds and other institutional investors.

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.