Comstock Resources, Inc. (NYSE:CRK – Get Rating) saw unusually large options trading on Wednesday. Traders purchased 6,037 put options on the stock. This represents an increase of 73% compared to the average volume of 3,494 put options.
Comstock Resources Stock Up 0.6 %
NYSE CRK opened at $19.24 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.40. Comstock Resources has a 1-year low of $6.88 and a 1-year high of $22.11. The company has a 50 day moving average of $18.08 and a 200-day moving average of $17.06. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 5.59 and a beta of 1.35.
Comstock Resources Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be given a dividend of $0.125 per share. The ex-dividend date is Wednesday, November 30th. This represents a $0.50 annualized dividend and a yield of 2.60%.
Insiders Place Their Bets
Institutional Trading of Comstock Resources
Hedge funds and other institutional investors have recently modified their holdings of the stock. Neo Ivy Capital Management bought a new stake in shares of Comstock Resources in the third quarter worth $41,000. Jacobs Levy Equity Management Inc. bought a new stake in Comstock Resources during the third quarter valued at $3,006,000. Algert Global LLC boosted its position in Comstock Resources by 62.4% during the third quarter. Algert Global LLC now owns 136,087 shares of the oil and gas producer’s stock valued at $2,353,000 after acquiring an additional 52,299 shares during the last quarter. Pittenger & Anderson Inc. boosted its position in Comstock Resources by 200.0% during the third quarter. Pittenger & Anderson Inc. now owns 6,000 shares of the oil and gas producer’s stock valued at $104,000 after acquiring an additional 4,000 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in Comstock Resources during the third quarter valued at $1,284,000. Institutional investors own 34.02% of the company’s stock.
Analyst Ratings Changes
Several analysts have recently issued reports on the company. Stifel Nicolaus upped their price target on Comstock Resources from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, September 12th. TheStreet raised Comstock Resources from a “c” rating to a “b-” rating in a report on Monday, August 1st. Citigroup upped their price target on Comstock Resources from $17.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 21st. KeyCorp assumed coverage on Comstock Resources in a research note on Monday, September 19th. They issued an “overweight” rating and a $26.00 price objective on the stock. Finally, The Goldman Sachs Group increased their price target on Comstock Resources from $12.00 to $13.50 and gave the stock a “sell” rating in a research report on Monday, August 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $19.88.
About Comstock Resources
Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of oil and natural gas primarily in North Louisiana and East Texas, the United States. As of December 31, 2021, the company had 6.1 trillion cubic feet of the natural gas equivalent of proved reserves.
- Get a free copy of the StockNews.com research report on Comstock Resources (CRK)
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