Short Interest in Comstock Resources, Inc. (NYSE:CRK) Drops By 5.0%

Comstock Resources, Inc. (NYSE:CRK) saw a significant drop in short interest in December. As of December 31st, there was short interest totalling 24,200,000 shares, a drop of 5.0% from the December 15th total of 25,480,000 shares. Based on an average daily trading volume, of 2,150,000 shares, the short-interest ratio is presently 11.3 days. Currently, 31.2% of the company’s stock are short sold.

Insider Buying and Selling at Comstock Resources

In other news, Director Elizabeth B. Davis sold 8,000 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $18.17, for a total value of $145,360.00. Following the completion of the sale, the director now directly owns 99,632 shares in the company, valued at approximately $1,810,313.44. The trade was a 7.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 38,000 shares of company stock worth $634,660 over the last three months. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Comstock Resources

Institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. bought a new stake in shares of Comstock Resources during the third quarter worth $25,000. Sunbelt Securities Inc. lifted its position in Comstock Resources by 140.0% during 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. EverSource Wealth Advisors LLC grew its holdings in 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 acquiring an additional 3,446 shares during the last quarter. Blue Trust Inc. increased its position in Comstock Resources by 116.3% in the 3rd quarter. Blue Trust Inc. now owns 6,715 shares of the oil and gas producer’s stock valued at $70,000 after acquiring an additional 3,611 shares in the last quarter. Finally, Choreo LLC bought a new position in Comstock Resources in the 2nd quarter worth approximately $105,000. Institutional investors own 36.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Citigroup raised their price target on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research report on Friday, December 6th. Bank of America began coverage on Comstock Resources in a report on Monday, October 28th. They issued a “buy” rating and a $14.00 target price on the stock. Truist Financial upped their price target on Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Morgan Stanley assumed coverage on shares of Comstock Resources in a research note on Friday, January 10th. They issued an “equal weight” rating and a $18.00 price objective on the stock. Finally, Mizuho upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating and upped their target price for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $13.30.

Comstock Resources Stock Performance

Comstock Resources stock opened at $21.36 on Friday. The firm has a market capitalization of $6.24 billion, a P/E ratio of -118.68 and a beta of 0.51. The stock has a fifty day moving average price of $16.62 and a two-hundred day moving average price of $12.81. Comstock Resources has a 52-week low of $7.07 and a 52-week high of $21.75. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.60 and a quick ratio of 0.60.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.01). Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The firm had revenue of $304.50 million for the quarter, compared to the consensus estimate of $308.75 million. During the same period in the prior year, the company posted $0.04 earnings per share. Comstock Resources’s quarterly revenue was down 19.2% compared to the same quarter last year. As a group, analysts anticipate that Comstock Resources will post -0.43 EPS for the current fiscal 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.