Comstock Resources (NYSE:CRK) Rating Increased to Sell at ValuEngine

Comstock Resources (NYSE:CRK) was upgraded by equities research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued on Tuesday, ValuEngine reports.

Separately, Seaport Global Securities cut Comstock Resources from a “buy” rating to a “neutral” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.33.

NYSE:CRK opened at $6.65 on Tuesday. Comstock Resources has a fifty-two week low of $4.17 and a fifty-two week high of $10.70. The company has a debt-to-equity ratio of 2.35, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $1.23 billion, a PE ratio of 7.38 and a beta of 1.40. The business’s 50-day simple moving average is $6.87 and its 200-day simple moving average is $6.34.

In other news, VP Russell W. Romoser sold 6,319 shares of Comstock Resources stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $9.36, for a total transaction of $59,145.84. Following the transaction, the vice president now owns 58,489 shares in the company, valued at approximately $547,457.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.20% of the company’s stock.

Several large investors have recently added to or reduced their stakes in CRK. Caymus Capital Partners L.P. bought a new position in shares of Comstock Resources during the 3rd quarter valued at about $6,860,000. BlackRock Inc. lifted its holdings in shares of Comstock Resources by 187.6% during the 2nd quarter. BlackRock Inc. now owns 1,087,908 shares of the oil and gas producer’s stock valued at $6,060,000 after purchasing an additional 709,665 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Comstock Resources during the 2nd quarter valued at about $767,000. Vanguard Group Inc. lifted its holdings in shares of Comstock Resources by 12.4% during the 2nd quarter. Vanguard Group Inc. now owns 637,641 shares of the oil and gas producer’s stock valued at $3,552,000 after purchasing an additional 70,212 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Comstock Resources by 136.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 107,852 shares of the oil and gas producer’s stock valued at $601,000 after purchasing an additional 62,182 shares in the last quarter. Institutional investors and hedge funds own 3.24% of the company’s stock.

Comstock Resources Company Profile

Comstock Resources, Inc and its subsidiaries engage in the acquisition, exploration for, development, and production of oil and natural gas properties, primarily in Texas, Louisiana, and North Dakota. The company is headquartered in Frisco, Texas.

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