Analysts Set Comstock Resources, Inc. (NYSE:CRK) Price Target at $13.40

Comstock Resources, Inc. (NYSE:CRK) has received a consensus rating of “Reduce” from the thirteen research firms that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $13.40.

Several brokerages recently weighed in on CRK. Truist Financial lifted their price objective on Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Piper Sandler boosted their price target on shares of Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Wednesday, January 29th. StockNews.com raised shares of Comstock Resources to a “sell” rating in a report on Thursday, February 20th. Morgan Stanley started coverage on shares of Comstock Resources in a report on Friday, January 10th. They set an “equal weight” rating and a $18.00 target price on the stock. Finally, Citigroup raised their price target on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a report on Friday, December 6th.

Insider Activity

In other news, Director Elizabeth B. Davis sold 10,000 shares of Comstock Resources stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $16.33, for a total transaction of $163,300.00. Following the completion of the sale, the director now directly owns 123,781 shares of the company’s stock, valued at approximately $2,021,343.73. The trade was a 7.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders sold 38,000 shares of company stock worth $634,660. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Comstock Resources

Hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new position in shares of Comstock Resources during the 3rd quarter valued at about $25,000. Sunbelt Securities Inc. grew its position in Comstock Resources by 140.0% during the third quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock valued at $27,000 after acquiring an additional 1,400 shares during the last quarter. VSM Wealth Advisory LLC purchased a new position in shares of Comstock Resources during the fourth quarter worth approximately $27,000. Sterling Capital Management LLC lifted its holdings in shares of Comstock Resources by 804.6% in the 4th quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer’s stock worth $54,000 after acquiring an additional 2,631 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Comstock Resources by 225.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock worth $64,000 after acquiring an additional 2,326 shares during the last quarter. Institutional investors own 36.13% of the company’s stock.

Comstock Resources Price Performance

Shares of NYSE:CRK opened at $17.99 on Friday. Comstock Resources has a fifty-two week low of $7.74 and a fifty-two week high of $22.06. The company’s 50-day moving average is $18.96 and its 200 day moving average is $14.73. The company has a market capitalization of $5.27 billion, a P/E ratio of -23.67, a price-to-earnings-growth ratio of 1.65 and a beta of 0.48. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.60 and a current ratio of 0.46.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, beating the consensus estimate of $0.02 by $0.14. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The business had revenue of $366.51 million for the quarter, compared to the consensus estimate of $370.62 million. On average, equities research analysts forecast that Comstock Resources will post 0.54 earnings per share for the current year.

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.