Comstock Resources (NYSE:CRK) Upgraded at StockNews.com

Comstock Resources (NYSE:CRK - Get Free Report) was upgraded by research analysts at StockNews.com to a "sell" rating in a research report issued to clients and investors on Saturday.

CRK has been the subject of several other reports. Morgan Stanley reissued a "cautious" rating and issued a $22.00 price objective (up from $21.00) on shares of Comstock Resources in a research report on Wednesday, March 26th. Piper Sandler increased 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. Finally, Truist Financial increased their price objective on Comstock Resources from $11.00 to $19.00 and gave the stock a "hold" rating in a research note on Monday, January 13th. Five research 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. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $14.17.

Comstock Resources Stock Up 1.4 %

Shares of Comstock Resources stock traded up $0.26 during midday trading on Friday, hitting $18.48. The company's stock had a trading volume of 93,602 shares, compared to its average volume of 2,676,106. The firm has a market capitalization of $5.41 billion, a P/E ratio of -24.32, a PEG ratio of 1.65 and a beta of 0.42. The stock has a 50-day simple moving average of $19.01 and a 200-day simple moving average of $16.96. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27. Comstock Resources has a 1-year low of $7.74 and a 1-year high of $22.06.

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 (EPS) for the quarter, beating 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, sell-side analysts expect that Comstock Resources will post 0.54 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in shares of 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 valued at $242,301,000 after buying an additional 227,638 shares in the last quarter. Vanguard Group Inc. raised its holdings in Comstock Resources by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 9,222,982 shares of the oil and gas producer's stock worth $168,043,000 after purchasing an additional 126,380 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Comstock Resources by 6.5% in the fourth 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 purchasing an additional 91,988 shares in the last quarter. Royce & Associates LP raised its holdings in Comstock Resources by 13.0% in the fourth quarter. Royce & Associates LP now owns 779,410 shares of the oil and gas producer's stock worth $14,201,000 after purchasing an additional 89,630 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Comstock Resources during the fourth quarter valued at $11,891,000. Institutional investors 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.