Comstock Resources, Inc. (NYSE:CRK) Short Interest Update

Comstock Resources, Inc. (NYSE:CRK) was the recipient of a large decline in short interest in November. As of November 30th, there was short interest totalling 24,700,000 shares, a decline of 11.3% from the November 15th total of 27,840,000 shares. Approximately 31.9% of the company’s shares are sold short. Based on an average daily volume of 2,100,000 shares, the short-interest ratio is presently 11.8 days.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CRK shares. Mizuho raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $10.00 to $18.00 in a research report on Monday. Truist Financial upped their price target on shares of Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Bank of America assumed coverage on Comstock Resources in a research note on Monday, October 28th. They issued a “buy” rating and a $14.00 target price on the stock. Siebert Williams Shank cut Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price target for the company. in a research note on Tuesday, October 15th. Finally, Citigroup increased their price objective on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a report on Friday, December 6th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.78.

Institutional Trading of Comstock Resources

Several institutional investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. acquired a new position in Comstock Resources in the third quarter worth about $25,000. Sunbelt Securities Inc. raised its holdings in shares of Comstock Resources by 140.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock worth $27,000 after buying an additional 1,400 shares in the last quarter. Blue Trust Inc. acquired a new position in shares of Comstock Resources in the 2nd quarter worth approximately $32,000. EverSource Wealth Advisors LLC lifted its position in shares of Comstock Resources by 2,533.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 3,446 shares during the period. Finally, Choreo LLC acquired a new stake in Comstock Resources in the 2nd quarter valued at $105,000. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Comstock Resources Stock Performance

Shares of CRK stock traded down $0.04 during mid-day trading on Tuesday, reaching $16.09. The stock had a trading volume of 2,208,165 shares, compared to its average volume of 3,385,048. The firm has a market cap of $4.70 billion, a PE ratio of -89.28 and a beta of 0.57. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.25. Comstock Resources has a one year low of $7.07 and a one year high of $17.79. The firm’s 50 day simple moving average is $13.54 and its 200 day simple moving average is $11.62.

Comstock Resources (NYSE:CRK) last issued its earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The firm had revenue of $304.50 million during the quarter, compared to the consensus estimate of $308.75 million. Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The firm’s revenue for the quarter was down 19.2% compared to the same quarter last year. During the same period last year, the business earned $0.04 earnings per share. On average, analysts forecast that Comstock Resources will post -0.44 EPS for the current year.

Comstock Resources Company Profile

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.