Comstock Resources (NYSE:CRK) Raised to Sell at StockNews.com

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

Several other research analysts also recently commented on the company. Williams Trading set a $13.00 target price on Comstock Resources in a research note on Wednesday, March 5th. Truist Financial raised their target price on Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Citigroup raised their target price on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research note on Friday, December 6th. 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 target price for the company. Finally, Piper Sandler raised their target price on Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 29th. Four equities 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $13.36.

Comstock Resources Stock Down 0.5 %

CRK stock opened at $19.87 on Thursday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.60 and a current ratio of 0.46. The company has a market capitalization 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 has a fifty-two week low of $7.74 and a fifty-two week high of $22.06. The stock has a fifty day moving average of $19.11 and a 200-day moving average of $15.43.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.14. The company had revenue of $366.51 million during the quarter, compared to the consensus estimate of $370.62 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. As a group, equities research 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 firm’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $16.98, for a total transaction of $169,800.00. Following the transaction, the director now directly owns 107,632 shares of the company’s stock, valued at approximately $1,827,591.36. This trade represents a 8.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 28,000 shares of company stock valued at $478,460 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Comstock Resources

Large investors have recently modified their holdings of the company. VSM Wealth Advisory LLC purchased a new position in shares of Comstock Resources during the 4th quarter valued at about $27,000. Sunbelt Securities Inc. raised its holdings in shares of Comstock Resources by 140.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock valued at $27,000 after buying an additional 1,400 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of Comstock Resources by 804.6% during the 4th quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer’s stock valued at $54,000 after buying an additional 2,631 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Comstock Resources by 225.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock valued at $64,000 after buying an additional 2,326 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Comstock Resources during the 4th quarter valued at about $70,000. 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.