Comstock Resources (NYSE:CRK) Stock Price Up 5.8% – What’s Next?

Comstock Resources, Inc. (NYSE:CRK)’s share price rose 5.8% during mid-day trading on Tuesday . The stock traded as high as $19.00 and last traded at $18.70. Approximately 180,466 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 2,840,504 shares. The stock had previously closed at $17.67.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CRK. Williams Trading set a $13.00 target price on shares of Comstock Resources in a research report on Wednesday, March 5th. Piper Sandler increased their target price on shares of Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Wednesday, January 29th. Morgan Stanley started coverage on Comstock Resources in a research note on Friday, January 10th. They set an “equal weight” rating and a $18.00 price target on the stock. Citigroup raised their price objective on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Truist Financial upped their target price on Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $13.36.

Comstock Resources Stock Up 5.1 %

The stock has a market cap of $5.44 billion, a P/E ratio of -24.44, a price-to-earnings-growth ratio of 1.65 and a beta of 0.55. The firm has a 50 day simple moving average of $19.07 and a 200-day simple moving average of $15.04. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27.

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

Insider Buying and Selling at Comstock Resources

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $16.33, for a total transaction of $163,300.00. Following the transaction, the director now owns 123,781 shares in the company, valued at $2,021,343.73. This represents a 7.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 38,000 shares of company stock valued at $634,660 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Comstock Resources

A number of large investors have recently added to or reduced their stakes in CRK. Bank of Montreal Can raised its stake in Comstock Resources by 1.9% in the fourth quarter. Bank of Montreal Can now owns 40,983 shares of the oil and gas producer’s stock valued at $747,000 after purchasing an additional 772 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in Comstock Resources by 140.0% in 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. VSM Wealth Advisory LLC acquired a new position in shares of Comstock Resources in the 4th quarter valued at approximately $27,000. Natixis Advisors LLC lifted its holdings in shares of Comstock Resources by 6.6% during the 4th quarter. Natixis Advisors LLC now owns 25,778 shares of the oil and gas producer’s stock worth $470,000 after acquiring an additional 1,585 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of 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 acquiring an additional 1,793 shares in the last quarter. 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.