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

Shares of Comstock Resources, Inc. (NYSE:CRK) have earned a consensus rating of “Hold” from the nine ratings firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $10.00.

Several equities research analysts recently issued reports on the company. Stifel Nicolaus decreased their price target on Comstock Resources from $15.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, January 23rd. StockNews.com raised shares of Comstock Resources to a “sell” rating in a research report on Thursday, April 4th. Piper Sandler dropped their target price on shares of Comstock Resources from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Thursday, March 7th. Siebert Williams Shank assumed coverage on Comstock Resources in a research report on Tuesday, December 19th. They set a “hold” rating and a $10.00 price target for the company. Finally, Pickering Energy Partners raised Comstock Resources from an “underperform” rating to a “neutral” rating in a research report on Tuesday, January 9th.

Comstock Resources Stock Performance

Shares of Comstock Resources stock opened at $9.11 on Wednesday. The business has a 50-day simple moving average of $8.46 and a 200 day simple moving average of $9.50. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 11.99 and a beta of 0.70. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.68 and a quick ratio of 0.68. Comstock Resources has a one year low of $7.07 and a one year high of $13.39.

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

Insiders Place Their Bets

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

Institutional Trading of Comstock Resources

Several hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its stake in Comstock Resources by 7.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 922,263 shares of the oil and gas producer’s stock valued at $10,173,000 after buying an additional 60,830 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Comstock Resources by 280.7% during the 3rd quarter. Hsbc Holdings PLC now owns 409,406 shares of the oil and gas producer’s stock valued at $4,556,000 after purchasing an additional 301,863 shares during the period. Barclays PLC lifted its holdings in Comstock Resources by 139.7% during the 3rd quarter. Barclays PLC now owns 326,486 shares of the oil and gas producer’s stock worth $3,600,000 after purchasing an additional 190,254 shares in the last quarter. KGH Ltd lifted its holdings in Comstock Resources by 119.3% during the 3rd quarter. KGH Ltd now owns 8,586,000 shares of the oil and gas producer’s stock worth $94,704,000 after purchasing an additional 4,670,959 shares in the last quarter. Finally, Wealthsource Partners LLC bought a new position in Comstock Resources in the 4th quarter worth about $134,000. Institutional investors 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.