Comstock Resources Inc. (CRK) Shares Up 4.1%
Comstock Resources Inc. (NYSE:CRK)’s share price shot up 4.1% during trading on Wednesday . The company traded as high as $7.84 and last traded at $7.34, with a volume of 312,133 shares. The stock had previously closed at $7.05.
A number of research firms recently commented on CRK. Zacks Investment Research lowered Comstock Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, June 7th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Comstock Resources in a research note on Wednesday, August 31st. Finally, Robert W. Baird lifted their price objective on Comstock Resources from $6.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, September 15th. One analyst has rated the stock with a sell rating and nine have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.17.
The stock’s market capitalization is $91.28 million. The company’s 50 day moving average is $6.02 and its 200-day moving average is $4.53.
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Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Monday, August 1st. The company reported ($4.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.66) by $3.39. The firm earned $40.72 million during the quarter, compared to analysts’ expectations of $39.16 million. Comstock Resources had a negative return on equity of 202.37% and a negative net margin of 475.42%. The business’s quarterly revenue was down 47.3% on a year-over-year basis. During the same quarter last year, the business earned ($1.11) earnings per share. Analysts expect that Comstock Resources Inc. will post ($12.63) EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in CRK. Oasis Management Co Ltd. purchased a new position in Comstock Resources during the first quarter worth about $1,990,000. Phoenix Investment Adviser LLC bought a new position in Comstock Resources during the second quarter valued at $1,603,000. California Public Employees Retirement System increased its position in Comstock Resources by 10.4% in the second quarter. California Public Employees Retirement System now owns 1,641,256 shares of the company’s stock valued at $1,379,000 after buying an additional 154,700 shares during the period. Vanguard Group Inc. increased its position in Comstock Resources by 8.3% in the second quarter. Vanguard Group Inc. now owns 1,493,844 shares of the company’s stock valued at $1,255,000 after buying an additional 114,614 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in Comstock Resources by 32.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,263,502 shares of the company’s stock valued at $967,000 after buying an additional 311,590 shares during the period.
About Comstock Resources
Comstock Resources, Inc is an energy company engaged in the acquisition, exploration, development and production of oil and natural gas in the United States. The Company operates in the segment of exploration and production of oil and natural gas. The Company’s oil and gas operations are concentrated in Texas and Louisiana.
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