Comstock Resources (NYSE:CRK) Stock Price Up 4.7% - Time to Buy?

Comstock Resources, Inc. (NYSE:CRK - Get Free Report) shares rose 4.7% during trading on Tuesday . The stock traded as high as $18.61 and last traded at $18.85. Approximately 552,174 shares traded hands during trading, a decline of 78% from the average daily volume of 2,467,599 shares. The stock had previously closed at $18.00.

Wall Street Analyst Weigh In

CRK has been the topic of several research reports. StockNews.com upgraded Comstock Resources to a "sell" rating in a report on Thursday, February 20th. Morgan Stanley initiated coverage on Comstock Resources in a report on Friday, January 10th. They set an "equal weight" rating and a $18.00 price objective on the stock. Piper Sandler raised their price objective on Comstock Resources from $5.00 to $6.00 and gave the stock an "underweight" rating in a report on Wednesday, January 29th. Citigroup raised their price objective on Comstock Resources from $12.50 to $15.50 and gave the stock a "neutral" rating in a report on Friday, December 6th. Finally, Mizuho upgraded Comstock Resources from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $10.00 to $18.00 in a report on Monday, December 16th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $13.40.

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Comstock Resources Price Performance

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 $5.26 billion, a price-to-earnings ratio of -23.62, a PEG ratio of 1.65 and a beta of 0.55. The stock has a 50-day moving average price of $19.08 and a two-hundred day moving average price of $14.89.

Comstock Resources (NYSE:CRK - Get Free Report) last posted 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 firm had revenue of $366.51 million during the quarter, compared to analysts' expectations of $370.62 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. As a group, equities research analysts forecast that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Insiders Place Their Bets

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of Comstock Resources stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $16.33, for a total transaction of $163,300.00. Following the completion of the sale, the director now owns 123,781 shares of the company's stock, valued at approximately $2,021,343.73. The trade was a 7.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 38,000 shares of company stock valued at $634,660. 2.00% of the stock is owned by company insiders.

Institutional Trading of Comstock Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in Comstock Resources by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 13,297,863 shares of the oil and gas producer's stock worth $242,301,000 after acquiring an additional 227,638 shares during the period. Vanguard Group Inc. lifted its position in Comstock Resources by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 9,222,982 shares of the oil and gas producer's stock worth $168,043,000 after acquiring an additional 126,380 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Comstock Resources by 6.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,505,808 shares of the oil and gas producer's stock worth $27,436,000 after acquiring an additional 91,988 shares during the period. Royce & Associates LP lifted its position in Comstock Resources by 13.0% during the 4th quarter. Royce & Associates LP now owns 779,410 shares of the oil and gas producer's stock worth $14,201,000 after acquiring an additional 89,630 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Comstock Resources during the 4th quarter valued at about $11,891,000. 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.