Comstock Resources (NYSE:CRK) Upgraded at StockNews.com

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

A number of other equities research analysts have also recently commented on the stock. Piper Sandler raised their price target on shares of Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Wednesday, January 29th. Williams Trading set a $13.00 target price on Comstock Resources in a research note on Wednesday, March 5th. Truist Financial upped their price target on Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Mizuho raised Comstock Resources from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Finally, Citigroup boosted 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. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Comstock Resources has an average rating of “Hold” and an average price target of $13.73.

Comstock Resources Stock Down 16.6 %

Shares of NYSE:CRK opened at $17.14 on Friday. Comstock Resources has a 1 year low of $7.74 and a 1 year high of $22.06. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. The business’s 50-day moving average is $18.90 and its 200-day moving average is $16.29. The company has a market capitalization of $5.02 billion, a price-to-earnings ratio of -22.55, a P/E/G ratio of 1.65 and a beta of 0.42.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.14. The firm 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 year.

Institutional Trading of Comstock Resources

Several institutional investors and hedge funds have recently made changes to their positions in CRK. Pullen Investment Management LLC grew its position in Comstock Resources by 47.0% in the 4th quarter. Pullen Investment Management LLC now owns 88,296 shares of the oil and gas producer’s stock worth $1,609,000 after purchasing an additional 28,251 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Comstock Resources in the fourth quarter valued at approximately $501,000. PharVision Advisers LLC bought a new position in shares of Comstock Resources in the fourth quarter valued at approximately $295,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Comstock Resources by 19.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 147,725 shares of the oil and gas producer’s stock valued at $2,692,000 after acquiring an additional 24,320 shares during the last quarter. Finally, Vident Advisory LLC increased its position in shares of Comstock Resources by 23.4% during the fourth quarter. Vident Advisory LLC now owns 32,760 shares of the oil and gas producer’s stock valued at $597,000 after acquiring an additional 6,211 shares during the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.

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.