Comstock Resources (NYSE:CRK) Shares Gap Down – Should You Sell?

Comstock Resources, Inc. (NYSE:CRK) gapped down prior to trading on Monday . The stock had previously closed at $19.54, but opened at $18.56. Comstock Resources shares last traded at $18.92, with a volume of 513,786 shares changing hands.

Wall Street Analyst Weigh In

CRK has been the topic of several recent research reports. Mizuho raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $10.00 to $18.00 in a research note on Monday, December 16th. Citigroup upped their price objective on shares of Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research note on Friday, December 6th. Truist Financial lifted their target price on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Piper Sandler raised their price objective on shares of Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley assumed coverage on Comstock Resources in a research report on Friday, January 10th. They issued an “equal weight” rating and a $18.00 target price for the company. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Comstock Resources presently has a consensus rating of “Hold” and an average target price of $13.40.

Comstock Resources Price Performance

The company has a market capitalization of $5.44 billion, a PE ratio of -24.70, a P/E/G ratio of 1.65 and a beta of 0.48. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.60 and a current ratio of 0.46. The stock has a 50 day moving average price of $18.81 and a two-hundred day moving average price of $14.57.

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

Insiders Place Their Bets

In other news, Director Elizabeth B. Davis sold 10,000 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $15.62, for a total value of $156,200.00. Following the completion of the sale, the director now directly owns 143,781 shares of the company’s stock, valued at approximately $2,245,859.22. This represents a 6.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 38,000 shares of company stock valued at $634,660 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Comstock Resources

Several large investors have recently modified their holdings of the stock. Pullen Investment Management LLC boosted its stake in Comstock Resources by 47.0% in the 4th quarter. Pullen Investment Management LLC now owns 88,296 shares of the oil and gas producer’s stock valued at $1,609,000 after buying an additional 28,251 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Comstock Resources in the 4th quarter worth about $501,000. PharVision Advisers LLC acquired a new stake in shares of Comstock Resources during the 4th quarter worth about $295,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Comstock Resources by 19.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 147,725 shares of the oil and gas producer’s stock valued at $2,692,000 after acquiring an additional 24,320 shares during the last quarter. Finally, Vident Advisory LLC increased its holdings in Comstock Resources by 23.4% during the 4th quarter. Vident Advisory LLC now owns 32,760 shares of the oil and gas producer’s stock valued at $597,000 after purchasing an additional 6,211 shares in the last quarter. 36.13% of the stock is currently owned by institutional investors.

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.