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

StockNews.com upgraded shares of Comstock Resources (NYSE:CRK) to a sell rating in a research report sent to investors on Monday morning.

Several other analysts have also recently issued reports on the stock. Pickering Energy Partners raised shares of Comstock Resources from an underperform rating to a neutral rating in a report on Tuesday, January 9th. The Goldman Sachs Group increased their price objective on shares of Comstock Resources from $8.00 to $9.00 and gave the company a sell rating in a research note on Tuesday, April 2nd. Piper Sandler reduced their price objective on shares of Comstock Resources from $9.00 to $8.00 and set an overweight rating on the stock in a research note on Thursday, March 7th. Stifel Nicolaus reduced their price objective on shares of Comstock Resources from $14.00 to $13.50 and set a buy rating on the stock in a research note on Tuesday, April 23rd. Finally, Truist Financial reduced their price objective on shares of Comstock Resources from $10.00 to $9.00 and set a hold rating on the stock in a research note on Tuesday, February 13th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Comstock Resources currently has a consensus rating of Hold and a consensus price target of $9.75.

Comstock Resources Trading Down 2.9 %

NYSE CRK opened at $9.77 on Monday. The company’s fifty day simple moving average is $8.97 and its 200-day simple moving average is $9.38. 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 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.11. The stock has a market cap of $2.72 billion, a P/E ratio of 12.86 and a beta of 0.70.

Comstock Resources (NYSE:CRK) last posted its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). Comstock Resources had a return on equity of 5.65% and a net margin of 13.49%. The firm had revenue of $410.58 million for the quarter, compared to analyst estimates of $401.97 million. During the same period in the previous year, the firm posted $1.05 earnings per share. The company’s revenue for the quarter was down 55.5% on a year-over-year basis. Equities research analysts predict that Comstock Resources will post -0.13 EPS for the current fiscal year.

Insider Transactions at Comstock Resources

In other Comstock Resources news, major shareholder Star Exploration Corp Blue purchased 12,500,000 shares of Comstock Resources stock in a transaction dated Monday, March 25th. The shares were bought at an average cost of $8.04 per share, for a total transaction of $100,500,000.00. Following the transaction, the insider now owns 194,821,429 shares in the company, valued at approximately $1,566,364,289.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.50% of the company’s stock.

Institutional Trading of Comstock Resources

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Comstock Resources by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 10,829,100 shares of the oil and gas producer’s stock worth $95,838,000 after acquiring an additional 34,231 shares during the period. KGH Ltd increased its holdings in shares of Comstock Resources by 119.3% in the 3rd quarter. KGH Ltd now owns 8,586,000 shares of the oil and gas producer’s stock worth $94,704,000 after acquiring an additional 4,670,959 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Comstock Resources by 29.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,139,351 shares of the oil and gas producer’s stock worth $72,035,000 after acquiring an additional 1,833,302 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Comstock Resources by 1.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,295,391 shares of the oil and gas producer’s stock worth $36,348,000 after acquiring an additional 41,260 shares during the period. Finally, Heartland Advisors Inc. increased its holdings in shares of Comstock Resources by 13.9% in the 3rd quarter. Heartland Advisors Inc. now owns 1,485,997 shares of the oil and gas producer’s stock worth $18,107,000 after acquiring an additional 180,917 shares during the period. 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.