Comstock Resources (NYSE:CRK) Trading Up 4.8%

Shares of Comstock Resources, Inc. (NYSE:CRKGet Rating) were up 4.8% during mid-day trading on Tuesday . The company traded as high as $19.25 and last traded at $19.25. Approximately 48,384 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 3,582,238 shares. The stock had previously closed at $18.37.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CRK shares. TheStreet raised shares of Comstock Resources from a “c” rating to a “b-” rating in a research report on Monday, August 1st. Tudor Pickering began coverage on shares of Comstock Resources in a research report on Wednesday, November 16th. They set a “hold” rating for the company. StockNews.com began coverage on shares of Comstock Resources in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Piper Sandler raised shares of Comstock Resources from an “underweight” rating to a “neutral” rating and increased their target price for the company from $16.00 to $17.00 in a research report on Tuesday, August 2nd. Finally, Citigroup upped their price target on shares of Comstock Resources from $17.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Comstock Resources presently has an average rating of “Hold” and an average target price of $19.88.

Comstock Resources Stock Up 0.6 %

The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market capitalization of $4.50 billion, a PE ratio of 5.59 and a beta of 1.35. The company’s 50 day simple moving average is $18.08 and its 200-day simple moving average is $17.06.

Comstock Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Wednesday, November 30th.

Insider Activity

In related news, Director Jim L. Turner acquired 50,000 shares of the stock in a transaction dated Thursday, September 8th. The shares were purchased at an average price of $18.34 per share, for a total transaction of $917,000.00. Following the transaction, the director now owns 265,805 shares in the company, valued at approximately $4,874,863.70. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Morris E. Foster acquired 8,000 shares of the stock in a transaction dated Thursday, September 22nd. The shares were purchased at an average price of $18.18 per share, for a total transaction of $145,440.00. Following the transaction, the director now owns 152,084 shares in the company, valued at approximately $2,764,887.12. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jim L. Turner acquired 50,000 shares of the stock in a transaction dated Thursday, September 8th. The shares were bought at an average price of $18.34 per share, for a total transaction of $917,000.00. Following the transaction, the director now owns 265,805 shares in the company, valued at approximately $4,874,863.70. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 122,000 shares of company stock worth $2,291,680. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Comstock Resources

Institutional investors and hedge funds have recently made changes to their positions in the business. Spire Wealth Management bought a new position in shares of Comstock Resources during the 3rd quarter valued at $35,000. Neo Ivy Capital Management bought a new position in shares of Comstock Resources during the 3rd quarter valued at $41,000. CoreCap Advisors LLC bought a new position in shares of Comstock Resources during the 2nd quarter valued at $32,000. Cullen Frost Bankers Inc. bought a new position in shares of Comstock Resources during the 2nd quarter valued at $48,000. Finally, USA Financial Portformulas Corp bought a new position in shares of Comstock Resources during the 3rd quarter valued at $83,000. Institutional investors own 34.02% of the company’s stock.

Comstock Resources Company Profile

(Get Rating)

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of oil and natural gas primarily in North Louisiana and East Texas, the United States. As of December 31, 2021, the company had 6.1 trillion cubic feet of the natural gas equivalent of proved reserves.

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