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

StockNews.com upgraded shares of Comstock Resources (NYSE:CRK) to a sell rating in a research note published on Thursday.

Several other analysts also recently issued reports on the company. Piper Sandler lifted their price target on Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Wednesday, January 29th. Truist Financial lifted their target price on Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Mizuho raised Comstock Resources from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $10.00 to $18.00 in a research report on Monday, December 16th. Bank of America started coverage on shares of Comstock Resources in a report on Monday, October 28th. They issued a “buy” rating and a $14.00 price objective on the stock. Finally, Citigroup increased their target price on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a report on Friday, December 6th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $13.40.

Comstock Resources Stock Performance

Shares of CRK stock opened at $20.08 on Thursday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.60 and a current ratio of 0.60. Comstock Resources has a 52 week low of $7.74 and a 52 week high of $22.06. The company’s 50 day moving average price is $18.65 and its two-hundred day moving average price is $14.28. The company has a market capitalization of $5.87 billion, a P/E ratio of -26.42, a price-to-earnings-growth ratio of 1.56 and a beta of 0.48.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS 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 net margin of 18.32% and a negative return on equity of 3.08%. On average, analysts expect that Comstock Resources will post 0.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.62, for a total value of $156,200.00. Following the completion of the sale, the director now owns 143,781 shares in the company, valued at $2,245,859.22. This trade represents a 6.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 38,000 shares of company stock worth $634,660. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Comstock Resources

A number of institutional investors and hedge funds have recently modified their holdings of the company. VSM Wealth Advisory LLC bought a new position in Comstock Resources during the fourth quarter worth $27,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Comstock Resources during the 3rd quarter worth about $25,000. Sunbelt Securities Inc. boosted its holdings in shares of 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 worth $27,000 after buying an additional 1,400 shares during the period. Sterling Capital Management LLC grew its stake in Comstock Resources by 804.6% in the 4th quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer’s stock valued at $54,000 after buying an additional 2,631 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Comstock Resources by 225.2% in the 4th 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. 36.13% of the stock is owned by institutional investors.

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.