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

Comstock Resources (NYSE:CRK) was upgraded by equities researchers at StockNews.com to a “sell” rating in a report released on Monday.

A number of other equities research analysts have also recently weighed in on CRK. Truist Financial cut their price target on Comstock Resources from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Tuesday, February 13th. Stifel Nicolaus cut their price target on Comstock Resources from $14.00 to $13.50 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. Mizuho lowered their price objective on shares of Comstock Resources from $10.00 to $9.00 and set an “underperform” rating on the stock in a research note on Monday, April 15th. The Goldman Sachs Group raised 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. Finally, Pickering Energy Partners upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating in a research note on Tuesday, January 9th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.75.

Comstock Resources Stock Performance

CRK opened at $10.07 on Monday. The business’s 50 day moving average is $8.94 and its 200-day moving average is $9.38. The stock has a market cap of $2.80 billion, a PE ratio of 13.25 and a beta of 0.70. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.11. Comstock Resources has a twelve month low of $7.07 and a twelve month high of $13.39.

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

Insiders Place Their Bets

In other Comstock Resources news, major shareholder Star Exploration Corp Blue purchased 12,500,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were purchased at an average price of $8.04 per share, for a total transaction of $100,500,000.00. Following the completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CRK. GAMMA Investing LLC boosted its stake in Comstock Resources by 428.9% in the 1st quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer’s stock worth $44,000 after purchasing an additional 3,869 shares during the period. Hexagon Capital Partners LLC boosted its stake in Comstock Resources by 2,161.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 4,929 shares of the oil and gas producer’s stock worth $46,000 after purchasing an additional 4,711 shares during the period. Federated Hermes Inc. boosted its stake in Comstock Resources by 80.0% in the 3rd quarter. Federated Hermes Inc. now owns 5,500 shares of the oil and gas producer’s stock worth $61,000 after purchasing an additional 2,445 shares during the period. PNC Financial Services Group Inc. boosted its stake in Comstock Resources by 144.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,645 shares of the oil and gas producer’s stock worth $73,000 after purchasing an additional 3,929 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in Comstock Resources in the 3rd quarter worth approximately $80,000. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Company Profile

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.