Comstock Resources, Inc. (NYSE:CRK) Short Interest Down 9.0% in January

Comstock Resources, Inc. (NYSE:CRK) was the target of a large decrease in short interest in January. As of January 31st, there was short interest totalling 21,410,000 shares, a decrease of 9.0% from the January 15th total of 23,520,000 shares. Approximately 27.8% of the shares of the company are short sold. Based on an average daily volume of 2,280,000 shares, the days-to-cover ratio is presently 9.4 days.

Analysts Set New Price Targets

Several analysts have recently commented on CRK shares. Mizuho raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $10.00 to $18.00 in a report on Monday, December 16th. Morgan Stanley initiated coverage on shares of Comstock Resources in a report on Friday, January 10th. They set an “equal weight” rating and a $18.00 price target on the stock. Truist Financial raised their price target on shares of Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Citigroup boosted their price objective on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Piper Sandler raised their target price on Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Comstock Resources currently has a consensus rating of “Hold” and a consensus price target of $13.40.

Insider Buying and Selling at Comstock Resources

In other news, Director Elizabeth B. Davis sold 10,000 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.62, for a total value of $156,200.00. Following the sale, the director now directly owns 143,781 shares of the company’s stock, valued at $2,245,859.22. This represents a 6.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 38,000 shares of company stock worth $634,660. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Comstock Resources

A number of hedge funds have recently made changes to their positions in CRK. PharVision Advisers LLC purchased a new position in shares of Comstock Resources during the fourth quarter worth $295,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Comstock Resources by 19.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 147,725 shares of the oil and gas producer’s stock valued at $2,692,000 after acquiring an additional 24,320 shares during the period. Vident Advisory LLC boosted its holdings in Comstock Resources by 23.4% during the 4th quarter. Vident Advisory LLC now owns 32,760 shares of the oil and gas producer’s stock valued at $597,000 after acquiring an additional 6,211 shares during the period. Texas Bank & Trust Co purchased a new position in Comstock Resources during the 4th quarter valued at about $288,000. Finally, Sig Brokerage LP purchased a new position in Comstock Resources during the 4th quarter valued at about $729,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Comstock Resources Trading Up 2.1 %

CRK stock traded up $0.40 during midday trading on Tuesday, hitting $18.96. 2,565,579 shares of the company’s stock were exchanged, compared to its average volume of 2,502,070. Comstock Resources has a 1-year low of $7.46 and a 1-year high of $22.06. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $5.54 billion, a PE ratio of -105.30, a P/E/G ratio of 1.45 and a beta of 0.48. The business has a 50-day simple moving average of $18.45 and a two-hundred day simple moving average of $14.12.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.14. Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. On average, sell-side analysts predict that Comstock Resources will post -0.41 EPS for the current fiscal year.

About Comstock Resources

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.