Comstock Resources (NYSE:CRK) Trading Down 5.4% – Should You Sell?

Comstock Resources, Inc. (NYSE:CRK) fell 5.4% during mid-day trading on Monday . The stock traded as low as $14.57 and last traded at $14.73. 292,531 shares were traded during trading, a decline of 91% from the average session volume of 3,438,864 shares. The stock had previously closed at $15.57.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Siebert Williams Shank lowered Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price target for the company. in a research report on Tuesday, October 15th. Mizuho reduced their target price on shares of Comstock Resources from $11.00 to $10.00 and set an “underperform” rating for the company in a report on Monday, September 16th. Truist Financial raised their price target on shares of Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a report on Monday, September 30th. Piper Sandler lowered shares of Comstock Resources from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $8.00 to $5.00 in a research note on Thursday, August 15th. Finally, Bank of America assumed coverage on shares of Comstock Resources in a research report on Monday, October 28th. They set a “buy” rating and a $14.00 target price for the company. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Comstock Resources currently has a consensus rating of “Hold” and a consensus target price of $10.31.

Comstock Resources Price Performance

The stock has a 50 day moving average of $12.76 and a 200-day moving average of $11.33. 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 company has a market cap of $4.44 billion, a PE ratio of -84.33 and a beta of 0.57.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The firm had revenue of $304.50 million during the quarter, compared to analysts’ expectations of $308.75 million. Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The company’s revenue for the quarter was down 19.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.04 earnings per share. Equities analysts predict that Comstock Resources, Inc. will post -0.44 earnings per share for the current year.

Institutional Trading of Comstock Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. acquired a new stake in Comstock Resources during the third quarter worth about $25,000. Sunbelt Securities Inc. grew its stake in shares of Comstock Resources by 140.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock worth $27,000 after purchasing an additional 1,400 shares during the period. Blue Trust Inc. purchased a new position in shares of Comstock Resources during the 2nd quarter valued at approximately $32,000. EverSource Wealth Advisors LLC lifted its stake in shares of Comstock Resources by 2,533.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 3,446 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Comstock Resources by 27.5% during the second quarter. GAMMA Investing LLC now owns 6,083 shares of the oil and gas producer’s stock worth $63,000 after buying an additional 1,312 shares in the last quarter. 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.