Comstock Resources, Inc. (NYSE:CRK) Short Interest Down 9.0% in January

Comstock Resources, Inc. (NYSE:CRK) saw a significant drop in short interest in January. As of January 31st, there was short interest totalling 21,410,000 shares, a drop of 9.0% from the January 15th total of 23,520,000 shares. Currently, 27.8% of the company’s stock are short sold. Based on an average daily trading volume, of 2,280,000 shares, the short-interest ratio is presently 9.4 days.

Insiders Place Their Bets

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $16.33, for a total transaction of $163,300.00. Following the completion of the sale, the director now directly owns 123,781 shares in the company, valued at $2,021,343.73. This represents a 7.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 38,000 shares of company stock valued at $634,660 over the last quarter. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Comstock Resources

Large investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new stake in Comstock Resources in the third quarter valued at about $25,000. Sunbelt Securities Inc. lifted its holdings in shares of Comstock Resources by 140.0% in the third 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 during the last quarter. VSM Wealth Advisory LLC acquired a new stake in shares of Comstock Resources in the 4th quarter valued at approximately $27,000. Sterling Capital Management LLC grew its holdings 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 valued at $54,000 after purchasing an additional 2,631 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in 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 purchasing an additional 2,326 shares in the last quarter. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Comstock Resources Stock Performance

NYSE:CRK traded up $0.39 during mid-day trading on Monday, reaching $18.56. 1,831,935 shares of the company’s stock were exchanged, compared to its average volume of 2,482,965. Comstock Resources has a one year low of $7.23 and a one year high of $22.06. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.60 and a current ratio of 0.60. The business’s fifty day simple moving average is $18.45 and its two-hundred day simple moving average is $14.12. The firm has a market capitalization of $5.42 billion, a PE ratio of -103.08, a price-to-earnings-growth ratio of 1.45 and a beta of 0.48.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CRK shares. Citigroup upped their target price on shares of Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research report on Friday, December 6th. Mizuho upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating and upped their target price for the company from $10.00 to $18.00 in a research report on Monday, December 16th. Piper Sandler lifted their price objective on Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 29th. Truist Financial increased their target price on Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Finally, Bank of America initiated coverage on Comstock Resources in a research report on Monday, October 28th. They set a “buy” rating and a $14.00 target price for the company. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $13.40.

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.