Comstock Resources (NYSE:CRK) Rating Increased to Sell at StockNews.com

StockNews.com upgraded shares of Comstock Resources (NYSE:CRK) to a sell rating in a research note issued to investors on Friday morning.

A number of other brokerages have also weighed in on CRK. Piper Sandler increased their target price on shares of Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 29th. Truist Financial raised their price objective on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Morgan Stanley reiterated a “cautious” rating and issued a $22.00 price objective (up from $21.00) on shares of Comstock Resources in a research note on Wednesday, March 26th. Citigroup increased their target price on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Williams Trading set a $13.00 price target on Comstock Resources in a research report on Wednesday, March 5th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.73.

Comstock Resources Price Performance

Comstock Resources stock opened at $17.14 on Friday. The business’s 50 day simple moving average is $18.90 and its 200 day simple moving average is $16.29. Comstock Resources has a 12 month low of $7.74 and a 12 month high of $22.06. The company has a market cap of $5.02 billion, a price-to-earnings ratio of -22.55, a PEG ratio of 1.65 and a beta of 0.42. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.14. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The firm had revenue of $366.51 million for the quarter, compared to analysts’ expectations of $370.62 million. Sell-side analysts forecast that Comstock Resources will post 0.54 EPS for the current year.

Hedge Funds Weigh In On Comstock Resources

A number of institutional investors have recently added to or reduced their stakes in CRK. Sunbelt Securities Inc. boosted its stake in Comstock Resources by 140.0% in the third quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock worth $27,000 after buying an additional 1,400 shares in the last quarter. VSM Wealth Advisory LLC bought a new stake in shares of Comstock Resources in the 4th quarter worth approximately $27,000. Sterling Capital Management LLC boosted its stake in shares of Comstock Resources by 804.6% in the 4th quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer’s stock valued at $54,000 after purchasing an additional 2,631 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Comstock Resources by 225.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock valued at $64,000 after purchasing an additional 2,326 shares during the last quarter. Finally, Quarry LP purchased a new position in Comstock Resources in the 4th quarter worth $70,000. 36.13% of the stock is currently owned by institutional investors.

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.