Comstock Resources, Inc. (NYSE:CRK) Receives $11.78 Consensus PT from Analysts

Shares of Comstock Resources, Inc. (NYSE:CRK) have been assigned an average rating of “Reduce” from the thirteen analysts that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $12.40.

Several equities research analysts have issued reports on CRK shares. Bank of America started coverage on Comstock Resources in a research note on Monday, October 28th. They set a “buy” rating and a $14.00 target price for the company. 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 research report on Tuesday, October 15th. BMO Capital Markets upped their target price on shares of Comstock Resources from $10.00 to $11.00 and gave the company a “market perform” rating in a research report on Friday, October 4th. Truist Financial lifted their price target on shares of Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Finally, Morgan Stanley initiated coverage on shares of Comstock Resources in a report on Friday. They issued an “equal weight” rating and a $18.00 price objective on the stock.

Comstock Resources Price Performance

NYSE:CRK opened at $19.90 on Friday. Comstock Resources has a one year low of $7.07 and a one year high of $20.08. The stock has a market cap of $5.82 billion, a PE ratio of -110.55 and a beta of 0.51. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a 50 day moving average price of $15.77 and a 200 day moving average price of $12.45.

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

Insider Buying and Selling

In other news, Director Elizabeth B. Davis sold 10,000 shares of Comstock Resources stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.62, for a total value of $156,200.00. Following the completion of the transaction, the director now owns 143,781 shares in the company, valued at approximately $2,245,859.22. This trade represents a 6.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 38,000 shares of company stock valued at $634,660 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Institutional Trading of Comstock Resources

A number of large investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new position in Comstock Resources in the third quarter worth approximately $25,000. Sunbelt Securities Inc. raised its holdings in shares of 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 purchasing an additional 1,400 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Comstock Resources by 2,533.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 3,446 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Comstock Resources by 116.3% during the third quarter. Blue Trust Inc. now owns 6,715 shares of the oil and gas producer’s stock worth $70,000 after purchasing an additional 3,611 shares in the last quarter. Finally, Choreo LLC purchased a new position in Comstock Resources in the second quarter valued at $105,000. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

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.