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

Comstock Resources, Inc. (NYSE:CRK) was the recipient 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. Currently, 37.2% of the company’s shares are sold short. Based on an average daily trading volume, of 4,510,000 shares, the short-interest ratio is presently 6.5 days.

Analyst Ratings Changes

A number of research analysts have issued reports on CRK shares. Piper Sandler decreased their target price on Comstock Resources from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Thursday, March 7th. Truist Financial cut their price target on shares of Comstock Resources from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Tuesday, February 13th. Mizuho lowered their price objective on shares of Comstock Resources from $10.00 to $9.00 and set an “underperform” rating for the company in a research report on Monday, April 15th. Stifel Nicolaus cut their price objective on shares of Comstock Resources from $14.00 to $13.50 and set a “buy” rating on the stock in a research report on Tuesday, April 23rd. Finally, Pickering Energy Partners raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating in a research note on Tuesday, January 9th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $9.75.

Comstock Resources Stock Up 0.7 %

Shares of NYSE CRK traded up $0.07 during mid-day trading on Monday, hitting $10.40. The company had a trading volume of 2,217,113 shares, compared to its average volume of 4,537,120. Comstock Resources has a one year low of $7.07 and a one year high of $13.39. The company has a market capitalization of $2.89 billion, a PE ratio of 13.67 and a beta of 0.70. 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 firm has a 50-day simple moving average of $8.83 and a two-hundred day simple moving average of $9.41.

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

Insiders Place Their Bets

In other news, major shareholder Star Exploration Corp Blue acquired 12,500,000 shares of Comstock Resources stock in a transaction that occurred on Monday, March 25th. The shares were acquired at an average price of $8.04 per share, with a total value of $100,500,000.00. Following the purchase, the insider now directly owns 194,821,429 shares of the company’s stock, valued at $1,566,364,289.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in Comstock Resources by 428.9% during the 1st quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer’s stock valued at $44,000 after purchasing an additional 3,869 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of Comstock Resources by 2,161.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 4,929 shares of the oil and gas producer’s stock worth $46,000 after buying an additional 4,711 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Comstock Resources by 80.0% during the 3rd 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. PNC Financial Services Group Inc. lifted its position in Comstock Resources by 144.7% during the third quarter. PNC Financial Services Group Inc. now owns 6,645 shares of the oil and gas producer’s stock worth $73,000 after acquiring an additional 3,929 shares during the last quarter. Finally, Steward Financial Group LLC boosted its holdings in shares of Comstock Resources by 86.9% during the third quarter. Steward Financial Group LLC now owns 6,776 shares of the oil and gas producer’s stock worth $74,000 after acquiring an additional 3,151 shares during the period. Institutional investors own 36.13% of the company’s stock.

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.