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

Shares of Comstock Resources, Inc. (NYSE:CRK) have been assigned an average rating of “Reduce” from the thirteen ratings firms that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $13.40.

Several brokerages have recently issued reports on CRK. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Piper Sandler lifted their target price on Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Wednesday, January 29th. Truist Financial boosted 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. StockNews.com upgraded shares of Comstock Resources to a “sell” rating in a research note on Thursday, February 20th. Finally, Citigroup upped 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.

Insider Buying and Selling

In other news, Director Elizabeth B. Davis sold 8,000 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $18.17, for a total transaction of $145,360.00. Following the completion of the transaction, the director now owns 99,632 shares of the company’s stock, valued at approximately $1,810,313.44. This trade represents a 7.43 % decrease in their ownership of the stock. 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 ninety days. Company insiders own 2.00% of the company’s stock.

Institutional Trading of Comstock Resources

Several institutional investors have recently modified their holdings of CRK. Pullen Investment Management LLC lifted its holdings in Comstock Resources by 47.0% during the 4th quarter. Pullen Investment Management LLC now owns 88,296 shares of the oil and gas producer’s stock worth $1,609,000 after buying an additional 28,251 shares during the period. GF Fund Management CO. LTD. acquired a new position in shares of Comstock Resources in the fourth quarter worth approximately $501,000. PharVision Advisers LLC acquired a new position in shares of Comstock Resources in the fourth quarter worth approximately $295,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Comstock Resources by 19.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 147,725 shares of the oil and gas producer’s stock valued at $2,692,000 after acquiring an additional 24,320 shares during the last quarter. Finally, Vident Advisory LLC increased its position in Comstock Resources by 23.4% during the 4th quarter. Vident Advisory LLC now owns 32,760 shares of the oil and gas producer’s stock valued at $597,000 after purchasing an additional 6,211 shares during the period. Institutional investors own 36.13% of the company’s stock.

Comstock Resources Price Performance

CRK stock opened at $18.98 on Friday. The company’s 50-day moving average price is $19.03 and its two-hundred day moving average price is $14.85. The firm has a market cap of $5.56 billion, a P/E ratio of -24.97, a P/E/G ratio of 1.65 and a beta of 0.48. 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 12 month low of $7.74 and a 12 month high of $22.06.

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