Comstock Resources (NYSE:CRK) Shares Up 4.1% – Still a Buy?

Comstock Resources, Inc. (NYSE:CRK)’s stock price rose 4.1% on Friday . The stock traded as high as $23.30 and last traded at $23.2470. Approximately 378,032 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 2,466,389 shares. The stock had previously closed at $22.33.

Wall Street Analysts Forecast Growth

CRK has been the subject of several research reports. Mizuho lifted their price objective on shares of Comstock Resources from $21.00 to $29.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. UBS Group set a $17.00 price objective on shares of Comstock Resources in a research note on Friday, February 13th. Morgan Stanley set a $19.00 target price on shares of Comstock Resources in a report on Friday, February 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Comstock Resources in a research report on Monday, December 29th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $25.00 price target (up from $24.00) on shares of Comstock Resources in a report on Wednesday, January 14th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Comstock Resources presently has a consensus rating of “Reduce” and a consensus target price of $21.00.

Comstock Resources Stock Performance

The company has a market capitalization of $6.88 billion, a PE ratio of 16.58 and a beta of 0.40. The firm has a 50-day moving average of $21.06 and a two-hundred day moving average of $21.30. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.95.

Comstock Resources (NYSE:CRK) last released its quarterly earnings data on Wednesday, February 11th. The oil and gas producer reported $0.16 EPS for the quarter, topping the consensus estimate of $0.11 by $0.05. The business had revenue of $787.32 million for the quarter, compared to analyst estimates of $504.66 million. Comstock Resources had a return on equity of 6.30% and a net margin of 17.80%.The business’s quarterly revenue was up 115.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 EPS. Research analysts anticipate that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Insider Activity

In related news, VP Patrick Mcgough sold 48,915 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $21.20, for a total value of $1,036,998.00. Following the completion of the transaction, the vice president directly owned 187,516 shares in the company, valued at $3,975,339.20. The trade was a 20.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rothschild Investment LLC boosted its stake in shares of Comstock Resources by 740.4% during the 4th quarter. Rothschild Investment LLC now owns 1,143 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 1,007 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Comstock Resources in the 3rd quarter valued at about $27,000. Kemnay Advisory Services Inc. purchased a new position in shares of Comstock Resources in the 4th quarter valued at about $29,000. Jones Financial Companies Lllp raised its holdings in Comstock Resources by 671.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,581 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 1,376 shares during the period. Finally, Hantz Financial Services Inc. raised its holdings in Comstock Resources by 877.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,437 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 1,290 shares during the period. Hedge funds and other institutional investors own 36.13% of the company’s stock.

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.