Comstock Resources, Inc. (NYSE:CRK) Receives $13.40 Average Target Price from Brokerages

Comstock Resources, Inc. (NYSE:CRK - Get Free Report) has been assigned a consensus recommendation of "Reduce" from the thirteen analysts that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $13.40.

A number of equities research analysts have recently weighed in on CRK shares. Piper Sandler lifted their price target on Comstock Resources from $5.00 to $6.00 and gave the company an "underweight" rating in a report on Wednesday, January 29th. Morgan Stanley began coverage on shares of Comstock Resources in a report on Friday, January 10th. They issued an "equal weight" rating and a $18.00 price objective for the company. StockNews.com raised shares of Comstock Resources to a "sell" rating in a research note on Thursday, February 20th. Mizuho upgraded shares of Comstock Resources from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Finally, Citigroup upped their target price on Comstock Resources from $12.50 to $15.50 and gave the stock a "neutral" rating in a research report on Friday, December 6th.

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Insider Transactions at Comstock Resources

In related news, Director Elizabeth B. Davis sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $15.62, for a total value of $156,200.00. Following the completion of the sale, the director now owns 143,781 shares in the company, valued at approximately $2,245,859.22. This represents a 6.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 38,000 shares of company stock valued at $634,660 over the last three months. Company insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Bank of Montreal Can increased its holdings in shares of Comstock Resources by 1.9% in the 4th quarter. Bank of Montreal Can now owns 40,983 shares of the oil and gas producer's stock valued at $747,000 after purchasing an additional 772 shares during the period. Sunbelt Securities Inc. increased its stake in Comstock Resources by 140.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer's stock valued at $27,000 after buying an additional 1,400 shares during the period. VSM Wealth Advisory LLC purchased a new stake in Comstock Resources in the 4th quarter worth approximately $27,000. Natixis Advisors LLC lifted its position in Comstock Resources by 6.6% in the 4th quarter. Natixis Advisors LLC now owns 25,778 shares of the oil and gas producer's stock worth $470,000 after buying an additional 1,585 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Comstock Resources by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,539 shares of the oil and gas producer's stock valued at $957,000 after buying an additional 1,793 shares during the period. 36.13% of the stock is owned by institutional investors and hedge funds.

Comstock Resources Stock Performance

CRK traded up $1.50 during trading on Friday, reaching $19.50. 1,225,598 shares of the company were exchanged, compared to its average volume of 2,874,605. 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 stock has a market cap of $5.71 billion, a P/E ratio of -25.67, a PEG ratio of 1.65 and a beta of 0.48. Comstock Resources has a 52 week low of $7.74 and a 52 week high of $22.06. The firm has a 50 day moving average of $18.99 and a 200 day moving average of $14.79.

Comstock Resources (NYSE:CRK - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.14. The business had revenue of $366.51 million for the quarter, compared to analysts' expectations of $370.62 million. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. On average, sell-side analysts forecast that Comstock Resources will post 0.54 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.