Analysts Set Comstock Resources, Inc. (NYSE:CRK) Price Target at $13.40

Comstock Resources, Inc. (NYSE:CRK) has been given a consensus rating of “Reduce” by the thirteen brokerages that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $13.40.

Several research firms have recently issued reports on CRK. Morgan Stanley began coverage on Comstock Resources in a report on Friday, January 10th. They set an “equal weight” rating and a $18.00 price objective on the stock. Siebert Williams Shank lowered 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 note on Tuesday, October 15th. Truist Financial raised their price objective on Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Piper Sandler increased their price target 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. Finally, Citigroup raised their price target 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.

Comstock Resources Price Performance

Comstock Resources stock opened at $18.51 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.25. Comstock Resources has a 52 week low of $7.07 and a 52 week high of $22.06. The firm has a market capitalization of $5.41 billion, a PE ratio of -102.80, a P/E/G ratio of 1.45 and a beta of 0.48. The firm’s 50-day simple moving average is $18.10 and its 200 day simple moving average is $13.82.

Insider Buying and Selling

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $15.62, for a total value of $156,200.00. Following the sale, the director now directly owns 143,781 shares in the company, valued at approximately $2,245,859.22. The trade was a 6.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 38,000 shares of company stock valued at $634,660 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Royce & Associates LP increased its stake in Comstock Resources by 13.0% in the 4th quarter. Royce & Associates LP now owns 779,410 shares of the oil and gas producer’s stock worth $14,201,000 after purchasing an additional 89,630 shares in the last quarter. Natixis Advisors LLC lifted its holdings in shares of Comstock Resources by 6.6% during the 4th quarter. Natixis Advisors LLC now owns 25,778 shares of the oil and gas producer’s stock valued at $470,000 after buying an additional 1,585 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new stake in Comstock Resources in the fourth quarter worth approximately $552,000. Edgestream Partners L.P. bought a new stake in shares of Comstock Resources during the 4th quarter worth about $4,430,000. Finally, Raymond James Financial Inc. bought a new position in shares of Comstock Resources in the fourth quarter valued at approximately $11,891,000. Institutional investors and hedge funds 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.