Comstock Resources, Inc. (NYSE:CRK) Short Interest Down 5.0% in January

Comstock Resources, Inc. (NYSE:CRK) saw a significant drop in short interest in the month of January. As of January 15th, there was short interest totalling 24,200,000 shares, a drop of 5.0% from the December 31st total of 25,480,000 shares. Based on an average daily volume of 2,150,000 shares, the short-interest ratio is presently 11.3 days. Approximately 31.2% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CRK shares. Bank of America started coverage on Comstock Resources in a research report on Monday, October 28th. They issued a “buy” rating and a $14.00 price target for the company. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and increased their price target for the company from $10.00 to $18.00 in a research report on Monday, December 16th. Morgan Stanley started coverage on Comstock Resources in a research report on Friday, January 10th. They set an “equal weight” rating and a $18.00 price objective for the company. Siebert Williams Shank lowered Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective for the company. in a research report on Tuesday, October 15th. Finally, Piper Sandler raised their price objective on Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $13.40.

Insider Activity

In related news, Director Elizabeth B. Davis sold 10,000 shares of Comstock Resources stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.62, for a total transaction of $156,200.00. Following the transaction, the director now directly owns 143,781 shares of the company’s stock, valued at $2,245,859.22. The trade was a 6.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 38,000 shares of company stock valued at $634,660. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Sunbelt Securities Inc. grew its holdings in shares of Comstock Resources by 140.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock worth $27,000 after purchasing an additional 1,400 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Comstock Resources by 2.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 57,876 shares of the oil and gas producer’s stock worth $601,000 after purchasing an additional 1,656 shares in the last quarter. KBC Group NV grew its holdings in shares of Comstock Resources by 46.8% during the 4th quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer’s stock worth $118,000 after purchasing an additional 2,066 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Comstock Resources during the 3rd quarter worth approximately $25,000. Finally, Empowered Funds LLC grew its holdings in shares of Comstock Resources by 8.7% during the 3rd quarter. Empowered Funds LLC now owns 31,536 shares of the oil and gas producer’s stock worth $351,000 after purchasing an additional 2,534 shares in the last quarter. 36.13% of the stock is owned by institutional investors.

Comstock Resources Stock Down 1.7 %

Shares of CRK stock opened at $18.25 on Tuesday. The stock’s 50 day simple moving average is $17.84 and its 200 day simple moving average is $13.55. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.60 and a current ratio of 0.60. Comstock Resources has a twelve month low of $7.07 and a twelve month high of $22.06. The company has a market capitalization of $5.33 billion, a price-to-earnings ratio of -101.16, a PEG ratio of 1.52 and a beta of 0.48.

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.