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 issued to investors on Thursday.

A number of other brokerages have also issued reports on CRK. Piper Sandler increased 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. Mizuho raised Comstock Resources from an “underperform” rating to a “neutral” rating and increased their price target for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Citigroup increased their price target on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research note on Friday, December 6th. Bank of America assumed coverage on Comstock Resources in a research note on Monday, October 28th. They set a “buy” rating and a $14.00 price target for the company. Finally, Morgan Stanley assumed coverage on Comstock Resources in a research note on Friday, January 10th. They set an “equal weight” rating and a $18.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $13.40.

Comstock Resources Stock Down 2.6 %

CRK opened at $19.56 on Thursday. Comstock Resources has a 12 month low of $7.74 and a 12 month 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 stock has a market cap of $5.72 billion, a P/E ratio of -25.73, a P/E/G ratio of 1.65 and a beta of 0.48. The stock’s 50 day moving average price is $18.70 and its 200 day moving average price is $14.40.

Comstock Resources (NYSE:CRK) last posted 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. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The firm had revenue of $366.51 million for the quarter, compared to analysts’ expectations of $370.62 million. As a group, research analysts predict that Comstock Resources will post 0.54 earnings per share for the current year.

Insider Transactions at Comstock Resources

In other news, Director Elizabeth B. Davis sold 10,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $16.33, for a total value of $163,300.00. Following the completion of the sale, the director now owns 123,781 shares in the company, valued at $2,021,343.73. This represents a 7.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 38,000 shares of company stock valued at $634,660 in the last three months. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Comstock Resources

A number of hedge funds have recently modified their holdings of the business. Bank of Montreal Can lifted its holdings in shares of 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. lifted its holdings 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 valued at $27,000 after purchasing an additional 1,400 shares in the last quarter. VSM Wealth Advisory LLC purchased a new stake in shares of Comstock Resources in the fourth quarter valued at $27,000. Natixis Advisors LLC lifted its holdings in shares of Comstock Resources by 6.6% in the fourth quarter. Natixis Advisors LLC now owns 25,778 shares of the oil and gas producer’s stock valued at $470,000 after purchasing an additional 1,585 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Comstock Resources by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,539 shares of the oil and gas producer’s stock valued at $957,000 after purchasing an additional 1,793 shares in 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.