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

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

A number of other brokerages also recently commented on CRK. Bank of America initiated coverage on Comstock Resources in a research note on Monday, October 28th. They issued a “buy” rating and a $14.00 target price on the stock. Morgan Stanley initiated coverage on Comstock Resources in a research note on Friday, January 10th. They issued an “equal weight” rating and a $18.00 target price on the stock. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $10.00 to $18.00 in a research note on Monday, December 16th. Truist Financial upped 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. Finally, Citigroup upped their target price on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Four 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $13.40.

Comstock Resources Stock Down 2.6 %

Comstock Resources stock opened at $19.56 on Thursday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.60 and a current ratio of 0.46. The business’s 50-day simple moving average is $18.70 and its two-hundred day simple moving average is $14.36. The company has a market cap of $5.72 billion, a PE ratio of -25.73, a PEG ratio of 1.71 and a beta of 0.48. Comstock Resources has a fifty-two week low of $7.74 and a fifty-two week high of $22.06.

Comstock Resources (NYSE:CRK) last posted its quarterly 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. The business had revenue of $366.51 million for the quarter, compared to the consensus estimate of $370.62 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. Equities analysts anticipate that Comstock Resources will post 0.54 EPS for the current year.

Insider Buying and Selling

In related news, Director Elizabeth B. Davis sold 8,000 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $18.17, for a total value 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 represents a 7.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 38,000 shares of company stock valued at $634,660. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Comstock Resources

A number of hedge funds have recently made changes to their positions in CRK. Blue Trust Inc. raised its holdings 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 valued at $70,000 after acquiring an additional 3,611 shares during the last quarter. Pullen Investment Management LLC raised its holdings in shares of Comstock Resources by 16.1% during the third quarter. Pullen Investment Management LLC now owns 60,045 shares of the oil and gas producer’s stock valued at $668,000 after acquiring an additional 8,312 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Comstock Resources during the third quarter valued at approximately $25,000. Mariner Investment Group LLC acquired a new position in shares of Comstock Resources during the third quarter valued at approximately $278,000. Finally, Parametrica Management Ltd acquired a new position in shares of Comstock Resources during the third quarter valued at approximately $661,000. Institutional investors and hedge funds own 36.13% of the company’s stock.

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.