Comstock Resources, Inc. (NYSE:CRK) Receives $13.40 Consensus Price Target from Brokerages

Shares of Comstock Resources, Inc. (NYSE:CRK) have been assigned a consensus recommendation of “Reduce” from the thirteen brokerages that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $13.40.

CRK has been the subject of several recent analyst reports. Truist Financial lifted their target price on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Morgan Stanley assumed coverage on shares of Comstock Resources in a report on Friday, January 10th. They issued an “equal weight” rating and a $18.00 price objective for the company. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and increased their target price for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Siebert Williams Shank cut Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price target for the company. in a research note on Tuesday, October 15th. Finally, Citigroup increased their price objective on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research report on Friday, December 6th.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. raised its holdings in Comstock Resources by 140.0% during the 3rd 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 period. The Manufacturers Life Insurance Company lifted its stake in Comstock Resources by 2.9% in the second quarter. The Manufacturers Life Insurance Company now owns 57,876 shares of the oil and gas producer’s stock worth $601,000 after purchasing an additional 1,656 shares during the last quarter. KBC Group NV boosted its position in shares of Comstock Resources by 46.8% during the fourth quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer’s stock valued at $118,000 after buying an additional 2,066 shares during the period. Harbor Capital Advisors Inc. purchased a new position in shares of Comstock Resources during the third quarter valued at approximately $25,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Comstock Resources by 225.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock valued at $64,000 after buying an additional 2,326 shares during the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Comstock Resources Price Performance

CRK opened at $17.57 on Tuesday. The firm has a market cap of $5.13 billion, a PE ratio of -97.58, a P/E/G ratio of 1.52 and a beta of 0.48. The stock has a 50-day moving average price of $17.96 and a 200-day moving average price of $13.64. Comstock Resources has a 1 year low of $7.07 and a 1 year high of $22.06. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.60 and a quick ratio of 0.60.

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.