Comstock Resources Inc (CRK) Receives Average Recommendation of “Hold” from Analysts

Comstock Resources Inc (NYSE:CRK) has earned an average recommendation of “Hold” from the eight research firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $11.75.

A number of equities research analysts have recently commented on CRK shares. Robert W. Baird set a $12.00 price objective on Comstock Resources and gave the company a “buy” rating in a research report on Friday, November 17th. KeyCorp reiterated a “hold” rating on shares of Comstock Resources in a research report on Friday, November 24th.

Shares of Comstock Resources (NYSE:CRK) opened at $7.11 on Monday. Comstock Resources has a 52-week low of $4.01 and a 52-week high of $12.37. The company has a market capitalization of $109.69, a price-to-earnings ratio of -0.77 and a beta of -0.30. The company has a debt-to-equity ratio of -3.32, a quick ratio of 0.58 and a current ratio of 0.58.

In related news, CEO M Jay Allison acquired 12,500 shares of the business’s stock in a transaction dated Thursday, December 28th. The stock was bought at an average price of $8.00 per share, for a total transaction of $100,000.00. Following the transaction, the chief executive officer now owns 611,630 shares of the company’s stock, valued at $4,893,040. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have bought a total of 173,500 shares of company stock valued at $1,136,570 in the last quarter. Insiders own 11.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp lifted its holdings in shares of Comstock Resources by 3.4% in the second quarter. Northern Trust Corp now owns 31,745 shares of the oil and gas producer’s stock valued at $225,000 after purchasing an additional 1,055 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Comstock Resources by 23.6% in the second quarter. Bank of New York Mellon Corp now owns 54,970 shares of the oil and gas producer’s stock valued at $389,000 after purchasing an additional 10,480 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Comstock Resources by 22.7% in the third quarter. Russell Investments Group Ltd. now owns 59,041 shares of the oil and gas producer’s stock valued at $359,000 after purchasing an additional 10,936 shares in the last quarter. Citadel Advisors LLC lifted its holdings in shares of Comstock Resources by 339.3% in the fourth quarter. Citadel Advisors LLC now owns 44,516 shares of the oil and gas producer’s stock valued at $377,000 after purchasing an additional 34,383 shares in the last quarter. Finally, Virtu Financial LLC lifted its holdings in shares of Comstock Resources by 362.4% in the fourth quarter. Virtu Financial LLC now owns 58,828 shares of the oil and gas producer’s stock valued at $498,000 after purchasing an additional 46,107 shares in the last quarter. Institutional investors own 52.34% of the company’s stock.

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Comstock Resources Company Profile

Comstock Resources, Inc is an energy company engaged in the acquisition, exploration, development and production of oil and natural gas in the United States. The Company operates in the segment of exploration and production of oil and natural gas. The Company’s oil and gas operations are concentrated in Texas and Louisiana.

Analyst Recommendations for Comstock Resources (NYSE:CRK)

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