Short Interest in Comstock Resources, Inc. (NYSE:CRK) Declines By 5.0%

Comstock Resources, Inc. (NYSE:CRK) was the recipient of a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 24,200,000 shares, a drop of 5.0% from the December 31st total of 25,480,000 shares. Currently, 31.2% of the company’s shares are sold short. Based on an average daily trading volume, of 2,150,000 shares, the short-interest ratio is presently 11.3 days.

Wall Street Analyst Weigh In

Several research firms have weighed in on CRK. Morgan Stanley started coverage on shares of Comstock Resources in a report on Friday, January 10th. They issued an “equal weight” rating and a $18.00 target price on the stock. Truist Financial lifted their price objective on shares of Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a report on Monday, January 13th. Piper Sandler increased their price objective on shares of Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 29th. Siebert Williams Shank downgraded Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 target price on the stock. in a research report on Tuesday, October 15th. Finally, Bank of America began coverage on Comstock Resources in a research report on Monday, October 28th. They set a “buy” rating and a $14.00 price target for the company. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Comstock Resources presently has an average rating of “Hold” and an average price target of $13.40.

Insider Buying and Selling at Comstock Resources

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $16.33, for a total value of $163,300.00. Following the transaction, the director now directly owns 123,781 shares of the company’s stock, valued at approximately $2,021,343.73. This trade represents a 7.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have sold 38,000 shares of company stock worth $634,660. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its position in Comstock Resources by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,413,820 shares of the oil and gas producer’s stock valued at $15,736,000 after buying an additional 57,376 shares during the last quarter. Millennium Management LLC lifted its position in shares of Comstock Resources by 775.4% during the second quarter. Millennium Management LLC now owns 875,371 shares of the oil and gas producer’s stock valued at $9,086,000 after purchasing an additional 775,371 shares in the last quarter. Royce & Associates LP grew its position in Comstock Resources by 79.2% in the 3rd quarter. Royce & Associates LP now owns 689,780 shares of the oil and gas producer’s stock worth $7,677,000 after purchasing an additional 304,780 shares in the last quarter. Principal Financial Group Inc. increased its stake in Comstock Resources by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 439,470 shares of the oil and gas producer’s stock valued at $8,007,000 after buying an additional 12,257 shares during the last quarter. Finally, Glenorchy Capital Ltd lifted its position in shares of Comstock Resources by 91.1% during the 3rd quarter. Glenorchy Capital Ltd now owns 197,713 shares of the oil and gas producer’s stock worth $2,201,000 after buying an additional 94,230 shares in the last quarter. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Stock Up 0.3 %

Shares of NYSE:CRK traded up $0.06 during trading on Monday, reaching $18.62. 2,520,796 shares of the stock were exchanged, compared to its average volume of 2,692,747. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.60 and a quick ratio of 0.60. Comstock Resources has a 1-year low of $7.07 and a 1-year high of $22.06. The stock has a fifty day moving average of $17.84 and a two-hundred day moving average of $13.55. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of -103.43, a price-to-earnings-growth ratio of 1.52 and a beta of 0.48.

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.