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

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

Several other analysts also recently weighed in on CRK. Piper Sandler decreased their target price on Comstock Resources from $13.00 to $12.00 and set a neutral rating for the company in a research report on Monday, August 14th. Mizuho lowered their target price on Comstock Resources from $15.00 to $14.00 and set a neutral rating for the company in a report on Monday, September 18th. Truist Financial raised their price target on Comstock Resources from $10.00 to $12.00 and gave the company a hold rating in a research note on Monday, September 11th. Finally, Stifel Nicolaus upped their price objective on shares of Comstock Resources from $14.00 to $15.00 and gave the stock a buy rating in a research note on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Comstock Resources presently has an average rating of Hold and a consensus price target of $13.75.

Comstock Resources Stock Up 2.9 %

Shares of NYSE:CRK opened at $11.17 on Monday. The company has a 50-day moving average price of $11.79 and a 200 day moving average price of $11.32. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 1.10. Comstock Resources has a 12 month low of $9.07 and a 12 month high of $19.81. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 4.99 and a beta of 1.19.

Comstock Resources (NYSE:CRK) last announced its earnings results on Monday, October 30th. The oil and gas producer reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The firm had revenue of $376.74 million during the quarter, compared to analysts’ expectations of $345.10 million. Comstock Resources had a net margin of 30.01% and a return on equity of 17.11%. The company’s revenue was down 68.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.18 EPS. As a group, equities research analysts predict that Comstock Resources will post 0.64 earnings per share for the current year.

Comstock Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.125 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.50 annualized dividend and a yield of 4.48%. Comstock Resources’s dividend payout ratio is presently 22.32%.

Institutional Investors Weigh In On Comstock Resources

Several institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its position in Comstock Resources by 1,481.3% in the second quarter. Janney Montgomery Scott LLC now owns 302,436 shares of the oil and gas producer’s stock valued at $3,508,000 after purchasing an additional 283,310 shares during the period. Fifth Third Bancorp boosted its position in shares of Comstock Resources by 3,792.9% during the second quarter. Fifth Third Bancorp now owns 20,827 shares of the oil and gas producer’s stock worth $242,000 after buying an additional 20,292 shares during the period. Callahan Advisors LLC grew its stake in shares of Comstock Resources by 11.1% in the first quarter. Callahan Advisors LLC now owns 13,000 shares of the oil and gas producer’s stock valued at $140,000 after buying an additional 1,294 shares in the last quarter. Amalgamated Bank grew its stake in shares of Comstock Resources by 183.2% in the first quarter. Amalgamated Bank now owns 41,570 shares of the oil and gas producer’s stock valued at $449,000 after buying an additional 26,893 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Comstock Resources in the 1st quarter valued at $259,000. 32.58% of the stock is currently owned by institutional investors and hedge funds.

About Comstock Resources

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. The company was incorporated in 1919 and is based in Frisco, Texas.