Comstock Resources (NYSE:CRK) Stock Price Down 5.2% – What’s Next?

Comstock Resources, Inc. (NYSE:CRK)’s stock price traded down 5.2% during trading on Wednesday . The stock traded as low as $18.02 and last traded at $18.15. 144,165 shares were traded during mid-day trading, a decline of 95% from the average session volume of 2,861,800 shares. The stock had previously closed at $19.14.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Morgan Stanley initiated coverage on shares of Comstock Resources in a research report on Friday, January 10th. They set an “equal weight” rating and a $18.00 price objective for the company. StockNews.com raised Comstock Resources to a “sell” rating in a research note on Thursday, February 20th. Citigroup lifted 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 shares of 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 research report on Monday, December 16th. Finally, Piper Sandler boosted their price target on Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Comstock Resources has a consensus rating of “Hold” and an average price target of $13.40.

Comstock Resources Trading Down 4.4 %

The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. The firm has a fifty day simple moving average of $19.03 and a two-hundred day simple moving average of $14.85. The firm has a market capitalization of $5.36 billion, a P/E ratio of -24.06, a price-to-earnings-growth ratio of 1.65 and a beta of 0.48.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.14. The firm had revenue of $366.51 million during the quarter, compared to analyst estimates 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 research analysts anticipate that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

Insider Activity at Comstock Resources

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $16.33, for a total value of $163,300.00. Following the sale, the director now owns 123,781 shares of the company’s stock, valued at $2,021,343.73. This trade represents a 7.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders sold 38,000 shares of company stock valued at $634,660. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CRK. Harbor Capital Advisors Inc. bought a new stake in Comstock Resources during the 3rd quarter valued at approximately $25,000. Parametrica Management Ltd purchased a new position in Comstock Resources during the third quarter valued at $661,000. Royce & Associates LP boosted its holdings in shares of Comstock Resources by 79.2% during the 3rd quarter. Royce & Associates LP now owns 689,780 shares of the oil and gas producer’s stock valued at $7,677,000 after buying an additional 304,780 shares in the last quarter. Empowered Funds LLC grew its position in shares of Comstock Resources by 8.7% in the 3rd quarter. Empowered Funds LLC now owns 31,536 shares of the oil and gas producer’s stock worth $351,000 after buying an additional 2,534 shares during the period. Finally, Quest Partners LLC increased its stake in shares of Comstock Resources by 2,818,600.0% in the 3rd quarter. Quest Partners LLC now owns 28,187 shares of the oil and gas producer’s stock worth $314,000 after acquiring an additional 28,186 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.