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

Comstock Resources (NYSE:CRK) was upgraded by analysts at StockNews.com to a “sell” rating in a research report issued to clients and investors on Thursday.

CRK has been the subject of a number of other research reports. Williams Trading set a $13.00 price target on Comstock Resources in a report on Wednesday, March 5th. Morgan Stanley initiated coverage on Comstock Resources in a research report on Friday, January 10th. They set an “equal weight” rating and a $18.00 price target on the stock. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $10.00 to $18.00 in a report on Monday, December 16th. Citigroup upped their price target on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Piper Sandler lifted their price objective on shares of Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Comstock Resources presently has an average rating of “Hold” and a consensus target price of $13.36.

Comstock Resources Trading Down 0.5 %

Shares of CRK traded down $0.11 during trading hours on Thursday, reaching $19.87. 1,380,142 shares of the company traded hands, compared to its average volume of 2,762,268. The stock’s fifty day moving average price is $19.11 and its 200 day moving average price is $15.43. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of -26.14, a PEG ratio of 1.65 and a beta of 0.55. Comstock Resources has a 12-month low of $7.74 and a 12-month high of $22.06.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.14. The company had revenue of $366.51 million during the quarter, compared to analyst estimates of $370.62 million. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. Sell-side analysts forecast that Comstock Resources will post 0.54 earnings per share for the current year.

Insider Activity

In other Comstock Resources news, Director Elizabeth B. Davis sold 8,000 shares of the stock in a transaction dated Monday, December 30th. The stock was 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. This trade represents a 7.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 28,000 shares of company stock worth $478,460. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Comstock Resources

Hedge funds have recently modified their holdings of the stock. Barclays PLC increased its stake in Comstock Resources by 256.3% during the 3rd quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer’s stock valued at $1,731,000 after purchasing an additional 111,934 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Comstock Resources by 9.0% during the third quarter. JPMorgan Chase & Co. now owns 170,338 shares of the oil and gas producer’s stock valued at $1,896,000 after buying an additional 13,998 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Comstock Resources by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,413,820 shares of the oil and gas producer’s stock valued at $15,736,000 after acquiring an additional 57,376 shares during the period. Intech Investment Management LLC purchased a new position in Comstock Resources in the 3rd quarter worth $419,000. Finally, Sanctuary Advisors LLC purchased a new position in Comstock Resources in the 3rd quarter worth $169,000. Institutional investors and hedge funds 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.