Comstock Resources, Inc. (NYSE:CRK) Receives Consensus Rating of “Hold” from Analysts

Shares of Comstock Resources, Inc. (NYSE:CRK) have earned an average rating of “Hold” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $9.75.

Several research firms recently issued reports on CRK. The Goldman Sachs Group raised their price target on Comstock Resources from $8.00 to $9.00 and gave the stock a “sell” rating in a research report on Tuesday, April 2nd. Truist Financial reduced their price target on Comstock Resources from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Tuesday, February 13th. Mizuho reduced their price target on Comstock Resources from $10.00 to $9.00 and set an “underperform” rating on the stock in a research report on Monday, April 15th. Piper Sandler cut their price objective on Comstock Resources from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Thursday, March 7th. Finally, Pickering Energy Partners upgraded Comstock Resources from an “underperform” rating to a “neutral” rating in a research report on Tuesday, January 9th.

Insider Activity

In related news, major shareholder Star Exploration Corp Blue purchased 12,500,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were purchased at an average price of $8.04 per share, with a total value of $100,500,000.00. Following the acquisition, the insider now directly owns 194,821,429 shares in the company, valued at approximately $1,566,364,289.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Comstock Resources

A number of institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in shares of Comstock Resources by 428.9% in the first quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer’s stock worth $44,000 after buying an additional 3,869 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of Comstock Resources by 2,161.0% in the first quarter. Hexagon Capital Partners LLC now owns 4,929 shares of the oil and gas producer’s stock worth $46,000 after buying an additional 4,711 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Comstock Resources by 80.0% in the third quarter. Federated Hermes Inc. now owns 5,500 shares of the oil and gas producer’s stock worth $61,000 after buying an additional 2,445 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Comstock Resources by 144.7% in the third quarter. PNC Financial Services Group Inc. now owns 6,645 shares of the oil and gas producer’s stock worth $73,000 after buying an additional 3,929 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new position in shares of Comstock Resources in the third quarter worth approximately $80,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Comstock Resources Stock Performance

NYSE:CRK opened at $9.98 on Friday. The business’s fifty day moving average is $9.04 and its 200 day moving average is $9.34. Comstock Resources has a 52-week low of $7.07 and a 52-week high of $13.39. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 45.37 and a beta of 0.70. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.68 and a current ratio of 0.64.

Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.05. The firm had revenue of $335.77 million for the quarter, compared to analysts’ expectations of $343.97 million. Comstock Resources had a return on equity of 1.25% and a net margin of 4.27%. The company’s revenue was down 31.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 EPS. Research analysts predict that Comstock Resources will post -0.13 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.