Comstock Resources (NYSE:CRK) Raised to "Sell" at StockNews.com

StockNews.com upgraded shares of Comstock Resources (NYSE:CRK - Free Report) to a sell rating in a research note issued to investors on Thursday.

Several other equities research analysts have also commented on the company. Piper Sandler upped their price objective on Comstock Resources from $5.00 to $6.00 and gave the stock an "underweight" rating in a research note on Wednesday, January 29th. Williams Trading set a $13.00 price objective on Comstock Resources in a research note on Wednesday, March 5th. Morgan Stanley assumed coverage on Comstock Resources in a research report on Friday, January 10th. They set an "equal weight" rating and a $18.00 price objective on the stock. Truist Financial increased their target price on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a "hold" rating in a report on Monday, January 13th. Finally, Citigroup raised their target price on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Comstock Resources presently has a consensus rating of "Hold" and an average target price of $13.36.

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Comstock Resources Stock Performance

Shares of Comstock Resources stock traded up $0.28 during trading hours on Thursday, reaching $20.20. 2,295,376 shares of the stock traded hands, compared to its average volume of 2,739,965. Comstock Resources has a one year low of $7.74 and a one year high of $22.06. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of -26.58, a P/E/G ratio of 1.65 and a beta of 0.55. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27. The company has a 50 day moving average price of $19.11 and a 200 day moving average price of $15.64.

Comstock Resources (NYSE:CRK - Get Free Report) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.14. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. The company had revenue of $366.51 million during the quarter, compared to analyst estimates of $370.62 million. On average, equities research analysts expect that Comstock Resources will post 0.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the business's stock in a transaction on Friday, December 27th. The shares were sold at an average price of $16.98, for a total value of $169,800.00. Following the sale, the director now owns 107,632 shares in the company, valued at $1,827,591.36. The trade was a 8.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Comstock Resources during the fourth quarter valued at approximately $11,891,000. Corigliano Investment Advisers LLC purchased a new stake in shares of Comstock Resources during the 4th quarter worth approximately $11,450,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Comstock Resources during the 4th quarter valued at approximately $6,349,000. Marshall Wace LLP bought a new position in shares of Comstock Resources during the 4th quarter valued at approximately $6,329,000. Finally, Edgestream Partners L.P. purchased a new position in shares of Comstock Resources in the fourth quarter valued at $4,430,000. Hedge funds and other institutional investors own 36.13% of the company's stock.

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.