Comstock Resources (NYSE:CRK) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Comstock Resources, Inc. (NYSE:CRK) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $20.78 and traded as high as $23.08. Comstock Resources shares last traded at $22.1190, with a volume of 2,037,864 shares trading hands.

Analyst Ratings Changes

CRK has been the topic of a number of recent research reports. Piper Sandler decreased their target price on Comstock Resources from $9.00 to $8.00 and set an “underweight” rating on the stock in a research report on Tuesday, November 18th. UBS Group reiterated a “sell” rating and issued a $18.00 price objective (up previously from $16.00) on shares of Comstock Resources in a research report on Friday, December 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Comstock Resources in a research report on Monday, December 29th. Mizuho upped their target price on Comstock Resources from $21.00 to $29.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Finally, Zacks Research upgraded shares of Comstock Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $20.60.

Comstock Resources Stock Performance

The firm’s 50-day moving average price is $23.48 and its 200 day moving average price is $20.78. The company has a market cap of $6.48 billion, a price-to-earnings ratio of 88.48 and a beta of 0.39. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.41 and a current ratio of 0.41.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Monday, November 3rd. The oil and gas producer reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.05. The business had revenue of $449.85 million for the quarter, compared to analyst estimates of $433.54 million. Comstock Resources had a return on equity of 6.71% and a net margin of 3.14%.The firm’s revenue was up 47.8% on a year-over-year basis. During the same period last year, the company earned ($0.17) EPS. On average, sell-side analysts anticipate that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Institutional Trading of Comstock Resources

Institutional investors and hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC acquired a new stake in shares of Comstock Resources in the 3rd quarter valued at approximately $27,000. Legacy Investment Solutions LLC bought a new stake in Comstock Resources in the second quarter valued at approximately $29,000. Jones Financial Companies Lllp increased its stake in Comstock Resources by 671.2% in the third quarter. Jones Financial Companies Lllp now owns 1,581 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 1,376 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in Comstock Resources in the second quarter worth $34,000. Finally, iSAM Funds UK Ltd bought a new position in shares of Comstock Resources during the third quarter worth $38,000. 36.13% of the stock is owned by institutional investors.

Comstock Resources Company Profile

Comstock Resources, Inc is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties in the United States. The company focuses on generating long-term value through the efficient development of unconventional resource plays and conventional prospects. Its activities encompass drilling, completion and production operations, as well as the marketing of natural gas, natural gas liquids and crude oil.

Comstock holds a core position in the Haynesville Shale of Northwest Louisiana, one of the most active natural gas plays in North America, and has built a complementary portfolio in the Delaware Basin of West Texas.