Comstock Resources, Inc. (NYSE:CRK) Short Interest Down 5.0% in January

Comstock Resources, Inc. (NYSE:CRK) was the recipient of a significant decrease in short interest in January. As of January 15th, there was short interest totalling 24,200,000 shares, a decrease of 5.0% from the December 31st total of 25,480,000 shares. Based on an average daily volume of 2,150,000 shares, the short-interest ratio is presently 11.3 days. Currently, 31.2% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

CRK has been the topic of a number of analyst reports. Piper Sandler lifted their price objective 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. Bank of America initiated coverage on shares of Comstock Resources in a research report on Monday, October 28th. They issued a “buy” rating and a $14.00 price objective on the stock. Siebert Williams Shank downgraded shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective on the stock. in a research report on Tuesday, October 15th. Citigroup boosted their target price on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Truist Financial boosted 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 research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $13.40.

Insider Transactions at Comstock Resources

In related news, Director Elizabeth B. Davis sold 8,000 shares of Comstock Resources stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $18.17, for a total transaction of $145,360.00. Following the completion of the sale, the director now owns 99,632 shares in the company, valued at $1,810,313.44. This trade represents a 7.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 38,000 shares of company stock valued at $634,660 over the last three months. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CRK. Harbor Capital Advisors Inc. purchased a new stake in Comstock Resources in the 3rd quarter valued at about $25,000. Sunbelt Securities Inc. lifted its position in 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 acquiring an additional 1,400 shares in the last quarter. Blue Trust Inc. lifted its position in Comstock Resources by 116.3% during the 3rd quarter. Blue Trust Inc. now owns 6,715 shares of the oil and gas producer’s stock worth $70,000 after acquiring an additional 3,611 shares in the last quarter. Algert Global LLC acquired a new position in shares of Comstock Resources in the 2nd quarter valued at approximately $107,000. Finally, KBC Group NV raised its position in shares of Comstock Resources by 46.8% in the 4th quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer’s stock valued at $118,000 after purchasing an additional 2,066 shares in the last quarter. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Stock Performance

Shares of CRK opened at $18.25 on Tuesday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25. The firm has a market cap of $5.33 billion, a PE ratio of -101.16, a price-to-earnings-growth ratio of 1.52 and a beta of 0.48. The company’s 50 day simple moving average is $17.84 and its 200-day simple moving average is $13.55. Comstock Resources has a 12-month low of $7.07 and a 12-month high of $22.06.

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.