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

Shares of Comstock Resources, Inc. (NYSE:CRK) have been given a consensus rating of “Reduce” by the thirteen brokerages that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $13.36.

Several equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Comstock Resources to a “sell” rating in a research report on Thursday, March 20th. 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 report on Monday, January 13th. Mizuho upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating and increased their price target for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Citigroup boosted their price objective on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Piper Sandler increased their target price on shares of Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Wednesday, January 29th.

Comstock Resources Price Performance

Shares of CRK opened at $20.29 on Wednesday. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27. Comstock Resources has a fifty-two week low of $7.74 and a fifty-two week high of $22.06. The company has a market cap of $5.94 billion, a P/E ratio of -26.70, a PEG ratio of 1.65 and a beta of 0.55. The firm’s 50 day moving average price is $19.11 and its 200 day moving average price is $15.64.

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

Insider Activity at Comstock Resources

In other Comstock Resources news, Director Elizabeth B. Davis sold 8,000 shares of the company’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 transaction, the director now directly owns 99,632 shares in the company, valued at approximately $1,810,313.44. This represents a 7.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Empowered Funds LLC lifted its position in Comstock Resources by 8.7% during the third quarter. Empowered Funds LLC now owns 31,536 shares of the oil and gas producer’s stock valued at $351,000 after buying an additional 2,534 shares in the last quarter. Quest Partners LLC lifted its stake in shares of Comstock Resources by 2,818,600.0% during the third quarter. Quest Partners LLC now owns 28,187 shares of the oil and gas producer’s stock worth $314,000 after purchasing an additional 28,186 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Comstock Resources in the third quarter valued at about $419,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Comstock Resources by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,413,820 shares of the oil and gas producer’s stock valued at $15,736,000 after buying an additional 57,376 shares during the period. Finally, FMR LLC lifted its position in Comstock Resources by 266.2% during the 3rd quarter. FMR LLC now owns 25,415 shares of the oil and gas producer’s stock worth $283,000 after acquiring an additional 18,475 shares in the last quarter. 36.13% of the stock is currently 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.