Comstock Resources (NYSE:CRK) Upgraded to Sell by StockNews.com

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

CRK has been the topic of several other reports. Pickering Energy Partners upgraded 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. The Goldman Sachs Group raised their target price on shares of Comstock Resources from $8.00 to $9.00 and gave the stock a sell rating in a report on Tuesday, April 2nd. Truist Financial dropped their price target on Comstock Resources from $10.00 to $9.00 and set a hold rating on the stock in a report on Tuesday, February 13th. Finally, Piper Sandler reduced their price objective on Comstock Resources from $9.00 to $8.00 and set an overweight rating for the company in a research note on Thursday, March 7th. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average target price of $9.75.

Comstock Resources Stock Up 0.7 %

Comstock Resources stock opened at $10.40 on Monday. Comstock Resources has a 52 week low of $7.07 and a 52 week high of $13.39. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 13.68 and a beta of 0.70. The company’s 50-day moving average price is $8.89 and its two-hundred day moving average price is $9.40. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.11.

Comstock Resources (NYSE:CRK) last announced its earnings results 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). The firm had revenue of $410.58 million for the quarter, compared to the consensus estimate of $401.97 million. Comstock Resources had a return on equity of 5.65% and a net margin of 13.49%. Comstock Resources’s revenue for the quarter was down 55.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.05 EPS. On average, analysts expect that Comstock Resources will post -0.06 EPS for the current fiscal year.

Insider Activity at Comstock Resources

In other Comstock Resources news, major shareholder Star Exploration Corp Blue acquired 12,500,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was purchased at an average cost of $8.04 per share, for a total transaction of $100,500,000.00. Following the transaction, the insider now owns 194,821,429 shares of the company’s stock, valued at approximately $1,566,364,289.16. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Comstock Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRK. Outfitter Financial LLC raised its holdings in shares of Comstock Resources by 5.0% during the fourth quarter. Outfitter Financial LLC now owns 34,300 shares of the oil and gas producer’s stock worth $304,000 after acquiring an additional 1,630 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Comstock Resources by 5.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,381 shares of the oil and gas producer’s stock worth $366,000 after purchasing an additional 2,310 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Comstock Resources by 4.6% during the 4th quarter. SG Americas Securities LLC now owns 53,942 shares of the oil and gas producer’s stock valued at $477,000 after buying an additional 2,389 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Comstock Resources by 80.0% in the 3rd quarter. Federated Hermes Inc. now owns 5,500 shares of the oil and gas producer’s stock valued at $61,000 after buying an additional 2,445 shares in the last quarter. Finally, Pittenger & Anderson Inc. grew its stake in shares of Comstock Resources by 25.0% in the 4th quarter. Pittenger & Anderson Inc. now owns 12,500 shares of the oil and gas producer’s stock valued at $111,000 after buying an additional 2,500 shares in the last quarter. 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.