Comstock Resources (NYSE:CRK) Shares Gap Up to $12.99

Comstock Resources, Inc. (NYSE:CRKGet Rating)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $12.99, but opened at $13.41. Comstock Resources shares last traded at $13.35, with a volume of 13,349 shares changing hands.

Analyst Ratings Changes

CRK has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of Comstock Resources in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Tudor, Pickering, Holt & Co. initiated coverage on shares of Comstock Resources in a report on Wednesday, November 16th. They issued a “hold” rating for the company. Tudor Pickering initiated coverage on shares of Comstock Resources in a report on Wednesday, November 16th. They issued a “hold” rating for the company. Mizuho downgraded shares of Comstock Resources from a “buy” rating to a “neutral” rating and lowered their price target for the company from $21.00 to $17.00 in a report on Tuesday, January 10th. Finally, KeyCorp lowered their price target on shares of Comstock Resources from $26.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, December 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Comstock Resources has an average rating of “Hold” and a consensus price target of $17.50.

Comstock Resources Trading Down 3.4 %

The firm has a market capitalization of $2.95 billion, a PE ratio of 3.67 and a beta of 1.37. The stock’s 50-day moving average price is $15.38 and its 200 day moving average price is $16.46. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.65 and a quick ratio of 0.65.

Comstock Resources (NYSE:CRKGet Rating) last issued its earnings results on Tuesday, November 1st. The oil and gas producer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.03. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $867.48 million. Comstock Resources had a net margin of 29.59% and a return on equity of 70.54%. On average, sell-side analysts expect that Comstock Resources, Inc. will post 3.62 EPS for the current fiscal year.

Comstock Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend was Wednesday, November 30th. Comstock Resources’s dividend payout ratio (DPR) is presently 14.53%.

Insider Activity at Comstock Resources

In other Comstock Resources news, Director Jim L. Turner acquired 15,000 shares of the business’s stock in a transaction that occurred on Thursday, December 22nd. The shares were bought at an average cost of $13.91 per share, with a total value of $208,650.00. Following the completion of the acquisition, the director now directly owns 280,805 shares in the company, valued at approximately $3,905,997.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Comstock Resources news, Director Jim L. Turner acquired 15,000 shares of the business’s stock in a transaction that occurred on Thursday, December 22nd. The shares were bought at an average cost of $13.91 per share, with a total value of $208,650.00. Following the completion of the acquisition, the director now directly owns 280,805 shares in the company, valued at approximately $3,905,997.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Morris E. Foster acquired 14,025 shares of the business’s stock in a transaction that occurred on Friday, December 9th. The shares were acquired at an average cost of $14.33 per share, for a total transaction of $200,978.25. Following the completion of the acquisition, the director now owns 176,109 shares of the company’s stock, valued at $2,523,641.97. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Comstock Resources

Several hedge funds and other institutional investors have recently made changes to their positions in CRK. Mackenzie Financial Corp acquired a new position in Comstock Resources during the 2nd quarter valued at about $3,135,000. Bank of Montreal Can raised its stake in Comstock Resources by 5,625.1% in the second quarter. Bank of Montreal Can now owns 873,539 shares of the oil and gas producer’s stock valued at $12,002,000 after buying an additional 858,281 shares during the last quarter. Ellevest Inc. raised its stake in Comstock Resources by 33.3% in the second quarter. Ellevest Inc. now owns 8,145 shares of the oil and gas producer’s stock valued at $98,000 after buying an additional 2,035 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Comstock Resources in the second quarter valued at about $514,000. Finally, Sanders Morris Harris LLC purchased a new stake in Comstock Resources in the third quarter valued at about $2,559,000. Hedge funds and other institutional investors own 35.22% of the company’s stock.

About Comstock Resources

(Get Rating)

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.

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