Comstock Resources, Inc. (NYSE:CRK) Short Interest Update

Comstock Resources, Inc. (NYSE:CRK) was the target of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 29,330,000 shares, an increase of 15.7% from the March 31st total of 25,340,000 shares. Based on an average daily volume of 4,510,000 shares, the short-interest ratio is currently 6.5 days. Approximately 37.2% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several research analysts have commented on CRK shares. The Goldman Sachs Group raised their target price on Comstock Resources from $8.00 to $9.00 and gave the stock a “sell” rating in a research note on Tuesday, April 2nd. Stifel Nicolaus decreased their target price on shares of Comstock Resources from $14.00 to $13.50 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. Truist Financial cut their price target on shares of Comstock Resources from $10.00 to $9.00 and set a “hold” rating for the company in a report on Tuesday, February 13th. Pickering Energy Partners upgraded Comstock Resources from an “underperform” rating to a “neutral” rating in a research report on Tuesday, January 9th. Finally, StockNews.com upgraded Comstock Resources to a “sell” rating in a research note on Thursday, April 4th. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.75.

Comstock Resources Price Performance

Shares of CRK traded up $0.07 during midday trading on Monday, reaching $10.40. The stock had a trading volume of 2,217,113 shares, compared to its average volume of 4,537,120. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 13.67 and a beta of 0.70. The company’s 50-day moving average is $8.83 and its 200 day moving average is $9.41. Comstock Resources has a 12-month low of $7.07 and a 12-month high of $13.39.

Comstock Resources (NYSE:CRK) last issued its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.06). Comstock Resources had a return on equity of 5.65% and a net margin of 13.49%. The firm had revenue of $410.58 million during the quarter, compared to analysts’ expectations of $401.97 million. During the same period in the prior year, the company earned $1.05 EPS. The firm’s quarterly revenue was down 55.5% compared to the same quarter last year. On average, equities analysts predict that Comstock Resources will post -0.06 EPS for the current fiscal year.

Insider Activity at Comstock Resources

In other news, major shareholder Star Exploration Corp Blue acquired 12,500,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was bought at an average price of $8.04 per share, with a total value of $100,500,000.00. Following the acquisition, the insider now owns 194,821,429 shares in the company, valued at approximately $1,566,364,289.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Comstock Resources

A number of institutional investors have recently made changes to their positions in the business. Outfitter Financial LLC boosted its holdings in Comstock Resources by 5.0% during the 4th quarter. Outfitter Financial LLC now owns 34,300 shares of the oil and gas producer’s stock valued at $304,000 after acquiring an additional 1,630 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Comstock Resources by 5.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,381 shares of the oil and gas producer’s stock valued at $366,000 after purchasing an additional 2,310 shares during the period. SG Americas Securities LLC grew its holdings in shares of Comstock Resources by 4.6% in the fourth quarter. SG Americas Securities LLC now owns 53,942 shares of the oil and gas producer’s stock worth $477,000 after purchasing an additional 2,389 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Comstock Resources by 80.0% in the third quarter. Federated Hermes Inc. now owns 5,500 shares of the oil and gas producer’s stock worth $61,000 after buying an additional 2,445 shares during the period. Finally, Pittenger & Anderson Inc. raised its holdings in Comstock Resources by 25.0% during the 4th quarter. Pittenger & Anderson Inc. now owns 12,500 shares of the oil and gas producer’s stock valued at $111,000 after buying an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors 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.