Comstock Resources (NYSE:CRK) Trading Up 4.7% – Time to Buy?

Comstock Resources, Inc. (NYSE:CRK)’s share price was up 4.7% during trading on Tuesday . The stock traded as high as $18.61 and last traded at $18.85. Approximately 552,174 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 2,467,599 shares. The stock had previously closed at $18.00.

Wall Street Analyst Weigh In

Several equities analysts have commented on CRK shares. Citigroup increased their price target 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. Piper Sandler increased their price target on shares of Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Wednesday, January 29th. Mizuho upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating and increased their price target for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Morgan Stanley began coverage on shares of Comstock Resources in a research report on Friday, January 10th. They set an “equal weight” rating and a $18.00 target price on the stock. Finally, Truist Financial raised 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. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $13.40.

Comstock Resources Trading Up 6.4 %

The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27. The company has a fifty day moving average of $18.99 and a two-hundred day moving average of $14.79. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of -25.19, a P/E/G ratio of 1.65 and a beta of 0.48.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $370.62 million. On average, research analysts expect that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Insider Buying and Selling at Comstock Resources

In other Comstock Resources news, Director Elizabeth B. Davis sold 8,000 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $18.17, for a total value of $145,360.00. Following the completion of the sale, the director now owns 99,632 shares of the company’s stock, valued at approximately $1,810,313.44. This trade represents a 7.43 % 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 the SEC website. Over the last quarter, insiders sold 38,000 shares of company stock valued at $634,660. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Comstock Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. acquired a new position in shares of Comstock Resources during the 3rd quarter worth $25,000. Sunbelt Securities Inc. raised its stake in shares of Comstock Resources by 140.0% during the 3rd 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 during the last quarter. VSM Wealth Advisory LLC acquired a new position in shares of Comstock Resources during the 4th quarter worth $27,000. Sterling Capital Management LLC raised its stake in shares of Comstock Resources by 804.6% during the 4th quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer’s stock worth $54,000 after buying an additional 2,631 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake 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 worth $64,000 after buying an additional 2,326 shares during the last quarter. Institutional investors and hedge funds 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.