Comstock Resources, Inc. (NYSE:CRK) Given Average Rating of "Reduce" by Analysts

Shares of Comstock Resources, Inc. (NYSE:CRK - Get Free Report) have been assigned a consensus recommendation of "Reduce" from the thirteen brokerages that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $13.73.

Several research firms have recently weighed in on CRK. Truist Financial boosted their price target on Comstock Resources from $11.00 to $19.00 and gave the stock a "hold" rating in a research note on Monday, January 13th. Morgan Stanley restated a "cautious" rating and set a $22.00 target price (up previously from $21.00) on shares of Comstock Resources in a research note on Wednesday. Williams Trading set a $13.00 price target on shares of Comstock Resources in a research note on Wednesday, March 5th. Citigroup increased their price objective on shares of Comstock Resources from $12.50 to $15.50 and gave the company a "neutral" rating in a research report on Friday, December 6th. Finally, Mizuho raised shares of Comstock Resources from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $10.00 to $18.00 in a research report on Monday, December 16th.

Insiders Place Their Bets

In other Comstock Resources news, Director Elizabeth B. Davis sold 8,000 shares of Comstock Resources stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $18.17, for a total transaction of $145,360.00. Following the transaction, the director now owns 99,632 shares of the company's stock, valued at $1,810,313.44. The trade was a 7.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.00% of the company's stock.

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Institutional Trading of Comstock Resources

Institutional investors and hedge funds have recently modified their holdings of the company. Pullen Investment Management LLC increased its stake in Comstock Resources by 47.0% in the 4th quarter. Pullen Investment Management LLC now owns 88,296 shares of the oil and gas producer's stock worth $1,609,000 after buying an additional 28,251 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Comstock Resources during the fourth quarter worth about $501,000. PharVision Advisers LLC bought a new stake in Comstock Resources during the 4th quarter valued at approximately $295,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Comstock Resources by 19.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 147,725 shares of the oil and gas producer's stock valued at $2,692,000 after purchasing an additional 24,320 shares during the period. Finally, Vident Advisory LLC boosted its stake in Comstock Resources by 23.4% in the 4th quarter. Vident Advisory LLC now owns 32,760 shares of the oil and gas producer's stock worth $597,000 after purchasing an additional 6,211 shares during the period. 36.13% of the stock is currently owned by institutional investors.

Comstock Resources Stock Up 0.2 %

CRK stock traded up $0.04 during trading on Wednesday, hitting $19.87. 1,552,158 shares of the stock traded hands, compared to its average volume of 2,730,769. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of -26.14, a price-to-earnings-growth ratio of 1.65 and a beta of 0.55. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. Comstock Resources has a 1 year low of $7.74 and a 1 year high of $22.06. The firm's 50 day moving average is $19.01 and its two-hundred day moving average is $15.89.

Comstock Resources (NYSE:CRK - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.14. The firm 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 anticipate that Comstock Resources will post 0.54 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.