StockNews.com Upgrades Comstock Resources (NYSE:CRK) to Sell

Comstock Resources (NYSE:CRK) was upgraded by StockNews.com to a “sell” rating in a research note issued on Thursday.

Several other equities analysts have also issued reports on the stock. Morgan Stanley initiated coverage on shares of Comstock Resources in a research report on Friday, January 10th. They issued an “equal weight” rating and a $18.00 price objective for the company. Piper Sandler increased their price target on Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Wednesday, January 29th. Bank of America initiated coverage on Comstock Resources in a research report on Monday, October 28th. They set a “buy” rating and a $14.00 price target on the stock. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $10.00 to $18.00 in a research report on Monday, December 16th. Finally, Truist Financial raised their target price on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Comstock Resources presently has an average rating of “Hold” and a consensus target price of $13.40.

Comstock Resources Trading Down 3.5 %

CRK traded down $0.73 during mid-day trading on Thursday, reaching $20.08. The stock had a trading volume of 2,768,638 shares, compared to its average volume of 2,569,698. The firm’s fifty day simple moving average is $18.65 and its two-hundred day simple moving average is $14.28. The stock has a market capitalization of $5.87 billion, a P/E ratio of -26.42, a P/E/G ratio of 1.56 and a beta of 0.48. Comstock Resources has a 52 week low of $7.74 and a 52 week high of $22.06. 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 (NYSE:CRK) last announced its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share (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 3.08%. The firm had revenue of $366.51 million for the quarter, compared to analysts’ expectations of $370.62 million. On average, equities analysts predict that Comstock Resources will post 0.54 EPS for the current year.

Insiders Place Their Bets

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.62, for a total transaction of $156,200.00. Following the sale, the director now owns 143,781 shares of the company’s stock, valued at approximately $2,245,859.22. The trade was a 6.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 38,000 shares of company stock valued at $634,660. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Comstock Resources

A number of institutional investors and hedge funds have recently bought and sold shares of CRK. VSM Wealth Advisory LLC bought a new stake in Comstock Resources in the fourth quarter valued at approximately $27,000. Harbor Capital Advisors Inc. acquired a new position in shares of Comstock Resources in the 3rd quarter worth approximately $25,000. Sunbelt Securities Inc. boosted its stake in shares of 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 purchasing an additional 1,400 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of 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 purchasing an additional 2,631 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Comstock Resources by 225.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock worth $64,000 after buying an additional 2,326 shares during the period. 36.13% of the stock is currently owned by institutional investors and hedge funds.

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.