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

Shares of Comstock Resources, Inc. (NYSE:CRK - Get Free Report) have been given a consensus recommendation of "Reduce" by the twelve ratings firms that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $9.79.

A number of equities analysts have commented on CRK shares. Piper Sandler lowered shares of Comstock Resources from a "neutral" rating to an "underweight" rating and reduced their price target for the company from $8.00 to $5.00 in a research report on Thursday, August 15th. Wolfe Research started coverage on shares of Comstock Resources in a research report on Thursday, July 18th. They issued a "peer perform" rating on the stock. Siebert Williams Shank lowered shares of Comstock Resources from a "hold" rating to a "sell" rating and set a $9.00 price target on the stock. in a research report on Tuesday, October 15th. Mizuho reduced their price target on shares of Comstock Resources from $11.00 to $10.00 and set an "underperform" rating on the stock in a research report on Monday, September 16th. Finally, BMO Capital Markets boosted their price target on shares of Comstock Resources from $10.00 to $11.00 and gave the company a "market perform" rating in a research report on Friday, October 4th.

Insider Transactions at Comstock Resources

In other Comstock Resources news, major shareholder Star Exploration Corp Blue purchased 825,000 shares of the company's stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average cost of $8.16 per share, with a total value of $6,732,000.00. Following the completion of the purchase, the insider now directly owns 195,646,429 shares in the company, valued at approximately $1,596,474,860.64. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Comstock Resources news, major shareholder Star Exploration Corp Blue purchased 825,000 shares of the company's stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average cost of $8.16 per share, with a total value of $6,732,000.00. Following the completion of the purchase, the insider now directly owns 195,646,429 shares in the company, valued at approximately $1,596,474,860.64. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Drilling L.P. Arkoma purchased 981,898 shares of the company's stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $10.13 per share, with a total value of $9,946,626.74. Following the completion of the purchase, the insider now owns 199,931,799 shares of the company's stock, valued at $2,025,309,123.87. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 6,712,733 shares of company stock worth $67,816,851. Corporate insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Comstock Resources

Several large investors have recently bought and sold shares of CRK. Vanguard Group Inc. increased its stake in Comstock Resources by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 10,829,100 shares of the oil and gas producer's stock valued at $95,838,000 after purchasing an additional 34,231 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in Comstock Resources by 2,161.0% in the first quarter. Hexagon Capital Partners LLC now owns 4,929 shares of the oil and gas producer's stock valued at $46,000 after purchasing an additional 4,711 shares in the last quarter. Kovack Advisors Inc. bought a new stake in Comstock Resources in the first quarter valued at approximately $1,058,000. Outfitter Financial LLC increased its position in shares of Comstock Resources by 5.5% during the first quarter. Outfitter Financial LLC now owns 36,200 shares of the oil and gas producer's stock worth $336,000 after acquiring an additional 1,900 shares in the last quarter. Finally, J.W. Cole Advisors Inc. increased its position in shares of Comstock Resources by 39.0% during the first quarter. J.W. Cole Advisors Inc. now owns 27,604 shares of the oil and gas producer's stock worth $256,000 after acquiring an additional 7,749 shares in the last quarter. Institutional investors own 36.13% of the company's stock.

Comstock Resources Price Performance

NYSE CRK traded down $0.01 on Friday, reaching $12.00. The company's stock had a trading volume of 1,613,576 shares, compared to its average volume of 3,590,524. The firm has a market cap of $3.51 billion, a PE ratio of 54.55 and a beta of 0.47. The business has a 50-day moving average price of $10.95 and a 200 day moving average price of $10.62. Comstock Resources has a 52 week low of $7.07 and a 52 week high of $13.39. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21.

Comstock Resources (NYSE:CRK - Get Free Report) last posted its earnings results on Tuesday, July 30th. The oil and gas producer reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.04). The business had revenue of $246.80 million during the quarter, compared to the consensus estimate of $296.02 million. Comstock Resources had a negative net margin of 1.48% and a negative return on equity of 1.38%. Comstock Resources's quarterly revenue was down 14.4% compared to the same quarter last year. Sell-side analysts expect that Comstock Resources will post -0.37 EPS for the current year.

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.