Comstock Resources, Inc. (NYSE:CRK) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Comstock Resources, Inc. (NYSE:CRK) have received a consensus recommendation of “Reduce” from the thirteen ratings firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $13.36.

Several equities research analysts have recently weighed in on the stock. Truist Financial boosted their target price on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Citigroup increased their target price on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a report on Friday, December 6th. Williams Trading set a $13.00 price target on Comstock Resources in a report on Wednesday, March 5th. Mizuho raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $10.00 to $18.00 in a report on Monday, December 16th. Finally, StockNews.com raised shares of Comstock Resources to a “sell” rating in a report on Thursday, March 20th.

Insider Buying and Selling

In other news, Director Elizabeth B. Davis sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $16.98, for a total value of $169,800.00. Following the completion of the sale, the director now directly owns 107,632 shares of the company’s stock, valued at approximately $1,827,591.36. This represents a 8.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of Comstock Resources

A number of hedge funds and other institutional investors have recently modified their holdings of CRK. Bank of Montreal Can grew its holdings in shares of Comstock Resources by 1.9% in the 4th quarter. Bank of Montreal Can now owns 40,983 shares of the oil and gas producer’s stock worth $747,000 after acquiring an additional 772 shares during the last quarter. Sunbelt Securities Inc. increased its position in shares of Comstock Resources by 140.0% in the third quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock worth $27,000 after acquiring an additional 1,400 shares in the last quarter. VSM Wealth Advisory LLC acquired a new stake in shares of Comstock Resources during the fourth quarter valued at approximately $27,000. Natixis Advisors LLC lifted its position in shares of Comstock Resources by 6.6% in the 4th quarter. Natixis Advisors LLC now owns 25,778 shares of the oil and gas producer’s stock valued at $470,000 after acquiring an additional 1,585 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Comstock Resources by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,539 shares of the oil and gas producer’s stock worth $957,000 after purchasing an additional 1,793 shares in the last quarter. Institutional investors own 36.13% of the company’s stock.

Comstock Resources Trading Up 0.2 %

NYSE:CRK opened at $20.29 on Wednesday. Comstock Resources has a one year low of $7.74 and a one year high of $22.06. The business’s 50-day simple moving average is $19.11 and its 200 day simple moving average is $15.64. 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 stock has a market cap of $5.94 billion, a price-to-earnings ratio of -26.70, a price-to-earnings-growth ratio of 1.65 and a beta of 0.55.

Comstock Resources (NYSE:CRK) last released its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, beating the consensus estimate of $0.02 by $0.14. The company had revenue of $366.51 million during the quarter, compared to analysts’ expectations of $370.62 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. As a group, sell-side analysts predict that Comstock Resources will post 0.54 earnings per share for the current fiscal year.

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.