Comstock Resources, Inc. (NYSE:CRK) Given Average Recommendation of “Hold” by Analysts

Comstock Resources, Inc. (NYSE:CRK – Get Rating) has received a consensus recommendation of “Hold” from the fourteen research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $13.61.

A number of brokerages recently commented on CRK. Piper Sandler lowered their price objective on Comstock Resources from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, April 19th. Stifel Nicolaus reduced their target price on Comstock Resources from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, April 14th. Mizuho reduced their target price on Comstock Resources from $18.00 to $17.00 in a report on Friday. Roth Capital restated a “neutral” rating on shares of Comstock Resources in a report on Tuesday, February 14th. Finally, Truist Financial reduced their target price on Comstock Resources from $12.00 to $9.00 and set a “hold” rating on the stock in a report on Tuesday, April 11th.

Insiders Place Their Bets

In other Comstock Resources news, CFO Roland O. Burns bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 23rd. The shares were acquired at an average cost of $10.00 per share, with a total value of $100,000.00. Following the acquisition, the chief financial officer now owns 950,430 shares of the company’s stock, valued at $9,504,300. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Brian Christopher Claunch purchased 5,000 shares of Comstock Resources stock in a transaction that occurred on Wednesday, March 15th. The stock was acquired at an average cost of $10.08 per share, for a total transaction of $50,400.00. Following the purchase, the vice president now directly owns 36,764 shares of the company’s stock, valued at approximately $370,581.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Roland O. Burns purchased 10,000 shares of Comstock Resources stock in a transaction that occurred on Thursday, March 23rd. The stock was purchased at an average price of $10.00 per share, with a total value of $100,000.00. Following the completion of the purchase, the chief financial officer now directly owns 950,430 shares in the company, valued at $9,504,300. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.

Institutional Trading of Comstock Resources

A number of institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in shares of Comstock Resources by 126.8% during the 1st quarter. JPMorgan Chase & Co. now owns 392,481 shares of the oil and gas producer’s stock valued at $4,235,000 after acquiring an additional 219,449 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of Comstock Resources by 350.5% during the 1st quarter. Thrivent Financial for Lutherans now owns 102,870 shares of the oil and gas producer’s stock worth $1,110,000 after buying an additional 80,037 shares during the last quarter. State Street Corp lifted its position in shares of Comstock Resources by 19.3% during the 1st quarter. State Street Corp now owns 10,279,079 shares of the oil and gas producer’s stock worth $110,911,000 after buying an additional 1,660,068 shares during the last quarter. Sapience Investments LLC lifted its position in shares of Comstock Resources by 21.9% during the 1st quarter. Sapience Investments LLC now owns 465,680 shares of the oil and gas producer’s stock worth $5,025,000 after buying an additional 83,650 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of Comstock Resources by 1,495.4% during the 1st quarter. Squarepoint Ops LLC now owns 334,604 shares of the oil and gas producer’s stock worth $3,610,000 after buying an additional 313,631 shares during the last quarter. 35.22% of the stock is currently owned by institutional investors.

Comstock Resources Stock Performance

Shares of NYSE:CRK opened at $10.32 on Friday. Comstock Resources has a twelve month low of $9.20 and a twelve month high of $22.11. The firm has a market cap of $2.86 billion, a PE ratio of 2.06 and a beta of 1.19. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.67 and a current ratio of 0.67. The business has a fifty day moving average of $10.52 and a 200-day moving average of $12.99.

Comstock Resources (NYSE:CRK – Get Rating) last announced its earnings results on Tuesday, May 2nd. The oil and gas producer reported $0.33 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.33. The company had revenue of $489.58 million during the quarter, compared to analyst estimates of $433.84 million. Comstock Resources had a return on equity of 52.26% and a net margin of 39.08%. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period last year, the company posted $0.51 earnings per share. On average, equities research analysts predict that Comstock Resources will post 1.15 EPS for the current fiscal year.

Comstock Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 4.84%. The ex-dividend date is Wednesday, May 31st. Comstock Resources’s dividend payout ratio (DPR) is 10.00%.

Comstock Resources Company Profile

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Comstock Resources, Inc engages in the acquisition, development, and exploration of oil and natural gas. The firm operations concentrated in the Haynesville shale, a premier natural gas basin located in East Texas. The company was founded in 1919 and is headquartered in Frisco, TX.