Comstock Resources (NYSE:CRK) Upgraded by StockNews.com to “Sell” Rating

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

A number of other research analysts have also weighed in on the company. Williams Trading set a $13.00 target price on Comstock Resources in a report on Wednesday, March 5th. Morgan Stanley started coverage on Comstock Resources in a report on Friday, January 10th. They issued an “equal weight” rating and a $18.00 price objective on the stock. Citigroup upped their price objective on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, December 6th. Piper Sandler upped their price objective on Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Wednesday, January 29th. Finally, Mizuho raised Comstock Resources from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $10.00 to $18.00 in a report on Monday, December 16th. Four 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.com, the stock currently has an average rating of “Hold” and an average price target of $13.36.

Comstock Resources Trading Up 0.5 %

Shares of Comstock Resources stock opened at $19.95 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27. The stock has a market cap of $5.84 billion, a P/E ratio of -26.24, a P/E/G ratio of 1.65 and a beta of 0.55. Comstock Resources has a 12-month low of $7.74 and a 12-month high of $22.06. The business’s 50 day moving average is $19.11 and its 200-day moving average is $15.49.

Comstock Resources (NYSE:CRK) last posted its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.14. The business had revenue of $366.51 million for the quarter, compared to analyst estimates of $370.62 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. Equities research analysts predict that Comstock Resources will post 0.54 earnings per share for the current fiscal year.

Insider Transactions at Comstock Resources

In related news, Director Elizabeth B. Davis sold 8,000 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $18.17, for a total transaction of $145,360.00. Following the completion of the sale, the director now directly owns 99,632 shares in the company, valued at $1,810,313.44. This represents a 7.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 28,000 shares of company stock valued at $478,460. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of Comstock Resources

Several institutional investors and hedge funds have recently modified their holdings of CRK. Raymond James Financial Inc. bought a new stake in shares of Comstock Resources during the 4th quarter worth $11,891,000. Corigliano Investment Advisers LLC bought a new position in Comstock Resources in the fourth quarter valued at about $11,450,000. Susquehanna Fundamental Investments LLC bought a new position in Comstock Resources in the fourth quarter valued at about $6,349,000. Marshall Wace LLP bought a new position in Comstock Resources in the fourth quarter valued at about $6,329,000. Finally, Edgestream Partners L.P. bought a new position in Comstock Resources in the fourth quarter valued at about $4,430,000. 36.13% of the stock is currently owned by 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.