Comstock Resources, Inc. (NYSE:CRK) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Comstock Resources, Inc. (NYSE:CRK) have earned an average rating of “Reduce” from the twelve analysts that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $11.78.

A number of equities analysts recently weighed in on CRK shares. Truist Financial increased their price target on shares of Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Mizuho raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating and increased their target price for the company from $10.00 to $18.00 in a research report on Monday, December 16th. BMO Capital Markets raised their price target on shares of Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Citigroup upped their price objective on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Siebert Williams Shank downgraded Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 target price for the company. in a research report on Tuesday, October 15th.

Comstock Resources Trading Up 4.4 %

NYSE:CRK opened at $19.62 on Friday. Comstock Resources has a 52 week low of $7.07 and a 52 week high of $20.06. The firm has a 50-day moving average price of $15.44 and a two-hundred day moving average price of $12.33. The firm has a market cap of $5.73 billion, a price-to-earnings ratio of -108.99 and a beta of 0.51. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.60 and a current ratio of 0.60.

Comstock Resources (NYSE:CRK) last issued its quarterly 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). The business had revenue of $304.50 million for the quarter, compared to the consensus estimate of $308.75 million. Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The business’s revenue was down 19.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.04 earnings per share. On average, equities analysts expect that Comstock Resources will post -0.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Elizabeth B. Davis sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $18.17, for a total transaction of $145,360.00. Following the sale, the director now owns 99,632 shares of the company’s stock, valued at approximately $1,810,313.44. This represents a 7.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 38,000 shares of company stock valued at $634,660. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Natixis Advisors LLC boosted its position in shares of Comstock Resources by 37.2% during the 2nd quarter. Natixis Advisors LLC now owns 35,106 shares of the oil and gas producer’s stock valued at $364,000 after acquiring an additional 9,520 shares during the last quarter. Arizona State Retirement System raised its stake 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 in the last quarter. Choreo LLC bought a new stake in Comstock Resources during the second quarter valued at approximately $105,000. Texas Permanent School Fund Corp grew its stake in Comstock Resources by 164.9% in the 2nd quarter. Texas Permanent School Fund Corp now owns 211,626 shares of the oil and gas producer’s stock worth $2,197,000 after buying an additional 131,733 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Comstock Resources by 19.0% in the 2nd quarter. American Century Companies Inc. now owns 2,270,435 shares of the oil and gas producer’s stock worth $23,567,000 after buying an additional 362,043 shares during the last quarter. 36.13% of the stock is owned by 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.