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

Comstock Resources, Inc. (NYSE:CRK) has earned an average 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 assigned a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $13.40.

A number of research analysts recently issued reports on the company. Morgan Stanley assumed coverage on Comstock Resources in a research note on Friday, January 10th. They set an “equal weight” rating and a $18.00 price objective for the company. StockNews.com upgraded shares of Comstock Resources to a “sell” rating in a research note on Thursday, February 20th. Piper Sandler increased their price target on Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 29th. Truist Financial raised their price target on Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a report on Monday, January 13th. Finally, Citigroup increased their target price on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research report on Friday, December 6th.

Insider Transactions at Comstock Resources

In other Comstock Resources news, Director Elizabeth B. Davis sold 8,000 shares of the firm’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 completion of the sale, the director now owns 99,632 shares of the company’s stock, valued at $1,810,313.44. This trade represents a 7.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 38,000 shares of company stock worth $634,660. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Comstock Resources

A number of large investors have recently bought and sold shares of CRK. Bank of Montreal Can lifted its position in shares of Comstock Resources by 1.9% during the fourth quarter. Bank of Montreal Can now owns 40,983 shares of the oil and gas producer’s stock worth $747,000 after purchasing an additional 772 shares during the last quarter. Sunbelt Securities Inc. boosted its position in Comstock Resources by 140.0% in 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 during the period. VSM Wealth Advisory LLC bought a new position in Comstock Resources in the 4th quarter worth about $27,000. Natixis Advisors LLC increased its position in shares of Comstock Resources by 6.6% during the fourth quarter. Natixis Advisors LLC now owns 25,778 shares of the oil and gas producer’s stock worth $470,000 after acquiring an additional 1,585 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Comstock Resources by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,539 shares of the oil and gas producer’s stock valued at $957,000 after acquiring an additional 1,793 shares in the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Comstock Resources Price Performance

NYSE CRK opened at $17.97 on Friday. The company has a 50-day moving average price of $18.92 and a 200-day moving average price of $14.62. Comstock Resources has a 52 week low of $7.74 and a 52 week high of $22.06. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $5.26 billion, a P/E ratio of -23.64, a PEG ratio of 1.65 and a beta of 0.48.

Comstock Resources (NYSE:CRK) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.14. The business had revenue of $366.51 million during the quarter, compared to analysts’ expectations of $370.62 million. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. Equities research analysts anticipate that Comstock Resources will post 0.54 earnings per share for the current year.

Comstock Resources Company Profile

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.