Comstock Resources, Inc. (NYSE:CRK) Receives Consensus Rating of “Reduce” from Analysts

Comstock Resources, Inc. (NYSE:CRK) has received a consensus recommendation of “Reduce” from the thirteen brokerages that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $13.40.

Several research analysts have recently commented on the company. Piper Sandler raised their price target on Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 29th. 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. Bank of America assumed coverage on shares of Comstock Resources in a research note on Monday, October 28th. They set a “buy” rating and a $14.00 price target on the stock. Morgan Stanley assumed coverage on shares of Comstock Resources in a report on Friday, January 10th. They set an “equal weight” rating and a $18.00 target price on the stock. Finally, Truist Financial boosted their price target on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a research note on Monday, January 13th.

Insider Transactions at Comstock Resources

In other news, Director Elizabeth B. Davis sold 10,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $15.62, for a total transaction of $156,200.00. Following the completion of the transaction, the director now directly owns 143,781 shares of the company’s stock, valued at approximately $2,245,859.22. This trade represents a 6.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 38,000 shares of company stock worth $634,660 in the last 90 days. 2.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Comstock Resources

Several hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can raised its position in shares of Comstock Resources by 45.3% during the second quarter. Bank of Montreal Can now owns 57,346 shares of the oil and gas producer’s stock worth $641,000 after purchasing an additional 17,885 shares during the period. Millennium Management LLC lifted its stake in Comstock Resources by 775.4% in the second quarter. Millennium Management LLC now owns 875,371 shares of the oil and gas producer’s stock valued at $9,086,000 after buying an additional 775,371 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Comstock Resources by 2.9% in the second quarter. The Manufacturers Life Insurance Company now owns 57,876 shares of the oil and gas producer’s stock valued at $601,000 after buying an additional 1,656 shares during the period. Algert Global LLC bought a new stake in shares of Comstock Resources during the second quarter worth $107,000. Finally, SG Americas Securities LLC raised its holdings in shares of Comstock Resources by 269.4% during the third quarter. SG Americas Securities LLC now owns 55,044 shares of the oil and gas producer’s stock worth $613,000 after acquiring an additional 40,142 shares during the period. Institutional investors own 36.13% of the company’s stock.

Comstock Resources Stock Up 0.3 %

Shares of NYSE CRK opened at $18.62 on Tuesday. The stock has a market cap of $5.44 billion, a PE ratio of -103.43, a P/E/G ratio of 1.52 and a beta of 0.48. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25. Comstock Resources has a 12-month low of $7.07 and a 12-month high of $22.06. The company has a 50-day moving average of $17.84 and a 200 day moving average of $13.55.

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.