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

Comstock Resources, Inc. (NYSE:CRK) has been given a consensus rating of “Reduce” by the twelve ratings firms that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $11.78.

CRK has been the topic of a number of research reports. Truist Financial boosted their target price on shares of Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Siebert Williams Shank downgraded Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective for the company. in a report on Tuesday, October 15th. Bank of America started coverage on Comstock Resources in a report on Monday, October 28th. They set a “buy” rating and a $14.00 target price on the stock. Citigroup increased their price target 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, Mizuho raised Comstock Resources from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $10.00 to $18.00 in a research note on Monday, December 16th.

Comstock Resources Stock Up 4.4 %

Shares of CRK opened at $19.62 on Friday. 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 has a 52 week low of $7.07 and a 52 week high of $20.06. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of -108.99 and a beta of 0.51. The stock has a fifty day moving average of $15.44 and a 200-day moving average of $12.33.

Comstock Resources (NYSE:CRK) last posted its earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The firm had revenue of $304.50 million during the quarter, compared to the consensus estimate of $308.75 million. Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. Comstock Resources’s revenue for the quarter was down 19.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.04 earnings per share. As a group, sell-side analysts anticipate that Comstock Resources will post -0.44 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Elizabeth B. Davis sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $16.33, for a total value of $163,300.00. Following the completion of the sale, the director now directly owns 123,781 shares in the company, valued at $2,021,343.73. This trade represents a 7.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold 38,000 shares of company stock worth $634,660 in the last quarter. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. bought a new stake in shares of Comstock Resources during the third quarter worth about $25,000. Sunbelt Securities Inc. boosted its position in shares of Comstock Resources by 140.0% during the third 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 last quarter. EverSource Wealth Advisors LLC grew its holdings in Comstock Resources by 2,533.8% during the second quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 3,446 shares in the last quarter. Blue Trust Inc. raised its position in Comstock Resources by 116.3% in the 3rd quarter. Blue Trust Inc. now owns 6,715 shares of the oil and gas producer’s stock valued at $70,000 after buying an additional 3,611 shares during the last quarter. Finally, Choreo LLC bought a new position in Comstock Resources during the 2nd quarter valued at $105,000. Institutional investors own 36.13% of the company’s stock.

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.