Comstock Resources, Inc. (NYSE:CRK) Given Consensus Rating of “Reduce” by Analysts

Shares of Comstock Resources, Inc. (NYSE:CRK) have been given an average recommendation of “Reduce” by the twelve ratings firms that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $9.79.

Several analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Mizuho lowered 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. 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. 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. Finally, Piper Sandler lowered shares of Comstock Resources from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $8.00 to $5.00 in a report on Thursday, August 15th.

Insider Transactions at Comstock Resources

In other Comstock Resources news, major shareholder Star Exploration Corp Blue acquired 825,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $8.16 per share, with a total value of $6,732,000.00. Following the purchase, the insider now owns 195,646,429 shares of the company’s stock, valued at approximately $1,596,474,860.64. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, major shareholder Star Exploration Corp Blue purchased 825,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $8.16 per share, with a total value of $6,732,000.00. Following the transaction, the insider now directly owns 195,646,429 shares of the company’s stock, 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 592,246 shares of the company’s stock in a transaction on Monday, August 26th. The shares were purchased at an average cost of $11.54 per share, with a total value of $6,834,518.84. Following the transaction, the insider now directly owns 208,219,992 shares in the company, valued at $2,402,858,707.68. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 6,712,733 shares of company stock valued at $67,816,851 in the last quarter. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Comstock Resources

Large investors have recently modified their holdings of the stock. Foundry Partners LLC boosted its stake in shares of Comstock Resources by 11.8% during the 1st quarter. Foundry Partners LLC now owns 469,512 shares of the oil and gas producer’s stock valued at $4,357,000 after purchasing an additional 49,626 shares in the last quarter. Kovack Advisors Inc. purchased a new position in Comstock Resources during the 1st quarter valued at about $1,058,000. Seven Eight Capital LP purchased a new position in Comstock Resources during the 1st quarter valued at about $813,000. Keynote Financial Services LLC purchased a new position in Comstock Resources during the 1st quarter valued at about $930,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Comstock Resources during the 1st quarter valued at about $1,904,000. Institutional investors own 36.13% of the company’s stock.

Comstock Resources Stock Down 0.1 %

CRK opened at $12.00 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.21. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 54.55 and a beta of 0.47. Comstock Resources has a twelve month low of $7.07 and a twelve month high of $13.39. The company’s 50-day moving average price is $10.95 and its two-hundred day moving average price is $10.61.

Comstock Resources (NYSE:CRK) last released 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). Comstock Resources had a negative net margin of 1.48% and a negative return on equity of 1.38%. The company had revenue of $246.80 million during the quarter, compared to analysts’ expectations of $296.02 million. The company’s revenue for the quarter was down 14.4% compared to the same quarter last year. As a group, equities analysts expect that Comstock Resources will post -0.37 earnings per share 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.