Comstock Resources (NYSE:CRK) Upgraded to “Sell” at StockNews.com

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

A number of other research analysts have also weighed in on CRK. Truist Financial decreased their target price on Comstock Resources from $10.00 to $9.00 and set a hold rating on the stock in a report on Tuesday, February 13th. Piper Sandler reduced their price objective on shares of Comstock Resources from $9.00 to $8.00 and set an overweight rating for the company in a research report on Thursday, March 7th. Pickering Energy Partners raised shares of Comstock Resources from an underperform rating to a neutral rating in a research report on Tuesday, January 9th. Mizuho cut their target price on shares of Comstock Resources from $10.00 to $9.00 and set an underperform rating for the company in a research note on Monday, April 15th. Finally, Stifel Nicolaus decreased their price target on shares of Comstock Resources from $14.00 to $13.50 and set a buy rating on the stock in a research note on Tuesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $9.75.

Comstock Resources Trading Up 0.7 %

Shares of NYSE:CRK opened at $10.40 on Monday. Comstock Resources has a one year low of $7.07 and a one year high of $13.39. The stock has a market capitalization of $2.89 billion, a PE ratio of 13.68 and a beta of 0.70. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.68 and a quick ratio of 0.68. The company’s 50-day moving average price is $8.89 and its two-hundred day moving average price is $9.40.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Tuesday, February 13th. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.06). Comstock Resources had a return on equity of 5.65% and a net margin of 13.49%. The firm had revenue of $410.58 million for the quarter, compared to the consensus estimate of $401.97 million. During the same period last year, the company posted $1.05 earnings per share. The business’s revenue was down 55.5% compared to the same quarter last year. On average, equities analysts forecast that Comstock Resources will post -0.06 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Star Exploration Corp Blue purchased 12,500,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was acquired at an average cost of $8.04 per share, for a total transaction of $100,500,000.00. Following the completion of the purchase, the insider now owns 194,821,429 shares in the company, valued at approximately $1,566,364,289.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Comstock Resources

A number of large investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Comstock Resources by 428.9% during the 1st quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer’s stock worth $44,000 after acquiring an additional 3,869 shares during the period. Hexagon Capital Partners LLC raised its position in Comstock Resources by 2,161.0% during the first quarter. Hexagon Capital Partners LLC now owns 4,929 shares of the oil and gas producer’s stock valued at $46,000 after purchasing an additional 4,711 shares in the last quarter. Federated Hermes Inc. lifted its stake in Comstock Resources by 80.0% during the third quarter. Federated Hermes Inc. now owns 5,500 shares of the oil and gas producer’s stock worth $61,000 after purchasing an additional 2,445 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Comstock Resources by 144.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,645 shares of the oil and gas producer’s stock valued at $73,000 after purchasing an additional 3,929 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in shares of Comstock Resources in the 3rd quarter valued at $80,000. 36.13% 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 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.