Investors Purchase High Volume of Comstock Resources Call Options (NYSE:CRK)

Comstock Resources, Inc. (NYSE:CRK) saw some unusual options trading on Wednesday. Stock investors purchased 10,064 call options on the stock. This represents an increase of approximately 154% compared to the typical daily volume of 3,963 call options.

Analyst Ratings Changes

CRK has been the topic of several research analyst reports. Morgan Stanley reaffirmed a “cautious” rating and issued a $22.00 price objective (up from $21.00) on shares of Comstock Resources in a research note on Wednesday, March 26th. StockNews.com upgraded shares of Comstock Resources to a “sell” rating in a research note on Thursday, March 20th. Mizuho upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $10.00 to $18.00 in a research report on Monday, December 16th. Piper Sandler raised their target price on shares of Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Wednesday, January 29th. Finally, Truist Financial upped their price target on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $13.73.

Institutional Investors Weigh In On Comstock Resources

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in Comstock Resources by 9.0% in the third quarter. JPMorgan Chase & Co. now owns 170,338 shares of the oil and gas producer’s stock valued at $1,896,000 after buying an additional 13,998 shares during the period. Barclays PLC lifted its position in shares of Comstock Resources by 256.3% during the 3rd quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer’s stock valued at $1,731,000 after acquiring an additional 111,934 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Comstock Resources by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,413,820 shares of the oil and gas producer’s stock worth $15,736,000 after acquiring an additional 57,376 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Comstock Resources in the third quarter worth $419,000. Finally, Sanctuary Advisors LLC bought a new stake in Comstock Resources in the third quarter valued at $169,000. Institutional investors own 36.13% of the company’s stock.

Comstock Resources Trading Up 3.9 %

Shares of NYSE CRK traded up $0.79 during midday trading on Wednesday, reaching $21.14. The stock had a trading volume of 1,937,757 shares, compared to its average volume of 2,368,865. The company’s 50 day moving average price is $18.99 and its 200 day moving average price is $16.01. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.60 and a current ratio of 0.46. Comstock Resources has a twelve month low of $7.74 and a twelve month high of $22.06. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of -27.82, a price-to-earnings-growth ratio of 1.65 and a beta of 0.55.

Comstock Resources (NYSE:CRK) last released its earnings results 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 18.32% and a negative return on equity of 3.10%. The business had revenue of $366.51 million for the quarter, compared to analyst estimates of $370.62 million. As a group, sell-side analysts expect that Comstock Resources will post 0.54 EPS for the current year.

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.