Comstock Resources (NYSE:CRK) Rating Increased to Sell at StockNews.com

Comstock Resources (NYSE:CRK) was upgraded by equities research analysts at StockNews.com to a “sell” rating in a report released on Thursday.

Several other analysts also recently weighed in on the stock. Morgan Stanley began coverage on shares of Comstock Resources in a research report on Friday, January 10th. They set an “equal weight” rating and a $18.00 price objective for the company. Bank of America started coverage on shares of Comstock Resources in a research report on Monday, October 28th. They issued a “buy” rating and a $14.00 price target for the company. Piper Sandler raised their price objective on Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Wednesday, January 29th. Citigroup boosted their target price on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Truist Financial upped their target price on Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $13.40.

Comstock Resources Stock Down 3.5 %

CRK traded down $0.73 on Thursday, hitting $20.08. 2,768,638 shares of the company were exchanged, compared to its average volume of 2,569,698. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25. The company has a market cap of $5.87 billion, a price-to-earnings ratio of -26.42, a price-to-earnings-growth ratio of 1.56 and a beta of 0.48. The firm has a 50-day moving average price of $18.65 and a two-hundred day moving average price of $14.28. Comstock Resources has a twelve month low of $7.74 and a twelve month high of $22.06.

Comstock Resources (NYSE:CRK) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.14. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.08%. The firm had revenue of $366.51 million for the quarter, compared to analysts’ expectations of $370.62 million. On average, equities analysts predict that Comstock Resources will post 0.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Elizabeth B. Davis sold 10,000 shares of Comstock Resources stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $15.62, for a total transaction of $156,200.00. Following the sale, the director now owns 143,781 shares of the company’s stock, valued at approximately $2,245,859.22. The trade was a 6.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 38,000 shares of company stock valued at $634,660. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Comstock Resources

Several large investors have recently bought and sold shares of CRK. GF Fund Management CO. LTD. bought a new stake in Comstock Resources in the fourth quarter worth about $501,000. PharVision Advisers LLC bought a new stake in shares of Comstock Resources in the 4th quarter worth approximately $295,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Comstock Resources by 19.7% during 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 purchasing an additional 24,320 shares during the last quarter. Vident Advisory LLC lifted its stake in Comstock Resources by 23.4% during the fourth 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 last quarter. Finally, Texas Bank & Trust Co bought a new stake in Comstock Resources during the fourth quarter worth approximately $288,000. Institutional investors and hedge funds 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.