Comstock Resources (NYSE:CRK) Upgraded at StockNews.com

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

Other research analysts also recently issued reports about the stock. Mizuho decreased 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 report on Monday, April 15th. The Goldman Sachs Group boosted their target price on shares of Comstock Resources from $8.00 to $9.00 and gave the company a sell rating in a research report on Tuesday, April 2nd. Pickering Energy Partners upgraded shares of Comstock Resources from an underperform rating to a neutral rating in a research report on Tuesday, January 9th. Stifel Nicolaus decreased their target price on shares of Comstock Resources from $14.00 to $13.50 and set a buy rating for the company in a research report on Tuesday, April 23rd. Finally, Truist Financial decreased their target price on shares of Comstock Resources from $10.00 to $9.00 and set a hold rating for the company in a research report on Tuesday, February 13th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $9.75.

Comstock Resources Trading Down 2.9 %

NYSE:CRK opened at $9.77 on Monday. Comstock Resources has a 12 month low of $7.07 and a 12 month high of $13.39. The firm has a fifty day simple moving average of $8.97 and a 200-day simple moving average of $9.38. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $2.72 billion, a P/E ratio of 12.86 and a beta of 0.70.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.10 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 company had revenue of $410.58 million for the quarter, compared to analyst estimates of $401.97 million. During the same quarter in the previous year, the firm posted $1.05 earnings per share. The company’s quarterly revenue was down 55.5% on a year-over-year basis. On average, equities research analysts anticipate that Comstock Resources will post -0.13 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Star Exploration Corp Blue bought 12,500,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was acquired at an average price of $8.04 per share, with a total value of $100,500,000.00. Following the completion of the purchase, the insider now directly owns 194,821,429 shares of the company’s stock, valued at $1,566,364,289.16. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.50% of the company’s stock.

Institutional Trading of Comstock Resources

A number of institutional investors and hedge funds have recently modified their holdings of CRK. KGH Ltd increased its stake in shares of Comstock Resources by 119.3% during the third quarter. KGH Ltd now owns 8,586,000 shares of the oil and gas producer’s stock worth $94,704,000 after purchasing an additional 4,670,959 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Comstock Resources by 29.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,139,351 shares of the oil and gas producer’s stock valued at $72,035,000 after acquiring an additional 1,833,302 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in Comstock Resources during the 1st quarter valued at about $5,643,000. Readystate Asset Management LP grew its stake in Comstock Resources by 718.7% during the 4th quarter. Readystate Asset Management LP now owns 603,846 shares of the oil and gas producer’s stock valued at $5,344,000 after acquiring an additional 530,090 shares in the last quarter. Finally, CastleKnight Management LP purchased a new stake in Comstock Resources during the 4th quarter valued at about $3,167,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

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.