StockNews.com Upgrades Comstock Resources (NYSE:CRK) to “Sell”

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

CRK has been the topic of a number of other research reports. Citigroup raised their price target on shares of Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, December 6th. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and raised their target price for the company from $10.00 to $18.00 in a report on Monday, December 16th. Truist Financial upped their price target on Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Piper Sandler raised their price objective on Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley reaffirmed a “cautious” rating and set a $22.00 target price (up previously from $21.00) on shares of Comstock Resources in a research report on Wednesday, March 26th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $13.73.

Comstock Resources Stock Down 16.6 %

CRK stock opened at $17.14 on Friday. The company has a 50 day moving average of $18.90 and a two-hundred day moving average of $16.20. 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 0.55. Comstock Resources has a 12-month low of $7.74 and a 12-month high of $22.06. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, beating the consensus estimate of $0.02 by $0.14. The business had revenue of $366.51 million during the quarter, compared to analysts’ expectations of $370.62 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. On average, equities analysts anticipate that Comstock Resources will post 0.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Comstock Resources

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sunbelt Securities Inc. raised its position in shares of Comstock Resources by 140.0% during the third quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock valued at $27,000 after buying an additional 1,400 shares during the last quarter. VSM Wealth Advisory LLC acquired a new position in Comstock Resources in the 4th quarter valued at approximately $27,000. Sterling Capital Management LLC lifted its position 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 worth $54,000 after acquiring an additional 2,631 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Comstock Resources by 225.2% during the fourth 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 period. Finally, Quarry LP acquired a new position in shares of Comstock Resources in the fourth quarter valued at $70,000. Institutional investors 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.