Comstock Resources (NYSE:CRK) Stock Price Down 7.2% – Should You Sell?

Comstock Resources, Inc. (NYSE:CRK)’s stock price fell 7.2% during trading on Tuesday . The stock traded as low as $23.49 and last traded at $22.8910. 381,624 shares changed hands during trading, a decline of 84% from the average session volume of 2,440,869 shares. The stock had previously closed at $24.67.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CRK shares. Zacks Research upgraded shares of Comstock Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Comstock Resources in a research report on Monday, December 29th. Mizuho raised their price objective on Comstock Resources from $21.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Piper Sandler reduced their price objective on shares of Comstock Resources from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 18th. Finally, Citigroup reiterated a “neutral” rating and set a $25.00 price objective (up from $24.00) on shares of Comstock Resources in a research report on Wednesday, January 14th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $20.33.

Comstock Resources Trading Down 8.3%

The firm’s 50 day simple moving average is $23.50 and its two-hundred day simple moving average is $20.43. The stock has a market capitalization of $6.63 billion, a P/E ratio of 90.96 and a beta of 0.39. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 1.19.

Comstock Resources (NYSE:CRK) last issued its earnings results on Monday, November 3rd. The oil and gas producer reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $449.85 million during the quarter, compared to analyst estimates of $433.54 million. Comstock Resources had a return on equity of 6.71% and a net margin of 3.14%.The firm’s revenue was up 47.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.17) EPS. As a group, analysts forecast that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. CreativeOne Wealth LLC raised its holdings in shares of Comstock Resources by 3.7% in the 3rd quarter. CreativeOne Wealth LLC now owns 13,931 shares of the oil and gas producer’s stock worth $276,000 after acquiring an additional 500 shares during the last quarter. Uhlmann Price Securities LLC increased its holdings in Comstock Resources by 2.4% during the 3rd quarter. Uhlmann Price Securities LLC now owns 27,653 shares of the oil and gas producer’s stock worth $548,000 after purchasing an additional 650 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Comstock Resources by 12.1% in the fourth quarter. GAMMA Investing LLC now owns 6,303 shares of the oil and gas producer’s stock valued at $146,000 after purchasing an additional 679 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Comstock Resources by 14.2% during the fourth quarter. Farther Finance Advisors LLC now owns 6,435 shares of the oil and gas producer’s stock worth $149,000 after buying an additional 802 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its position in Comstock Resources by 1.7% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 48,276 shares of the oil and gas producer’s stock valued at $957,000 after buying an additional 821 shares during the last quarter. 36.13% of the stock is owned by institutional investors.

Comstock Resources Company Profile

Comstock Resources, Inc is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties in the United States. The company focuses on generating long-term value through the efficient development of unconventional resource plays and conventional prospects. Its activities encompass drilling, completion and production operations, as well as the marketing of natural gas, natural gas liquids and crude oil.

Comstock holds a core position in the Haynesville Shale of Northwest Louisiana, one of the most active natural gas plays in North America, and has built a complementary portfolio in the Delaware Basin of West Texas.