Comstock Resources Inc. (CRK) Shares Up 6.6% on Analyst Upgrade
Comstock Resources Inc. (NYSE:CRK)’s share price traded up 6.6% on Monday after Imperial Capital raised their price target on the stock from $3.75 to $8.50. Imperial Capital currently has an in-line rating on the stock. Comstock Resources traded as high as $8.25 and last traded at $8.05, with a volume of 340,193 shares trading hands. The stock had previously closed at $7.55.
CRK has been the topic of a number of other reports. Robert W. Baird raised their target price on Comstock Resources from $6.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, September 15th. Stifel Nicolaus restated a “hold” rating on shares of Comstock Resources in a research report on Wednesday, August 31st. Finally, Zacks Investment Research upgraded Comstock Resources from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a research report on Tuesday, July 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $10.54.
Large investors have recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new position in Comstock Resources during the first quarter worth $121,000. Cubist Systematic Strategies LLC raised its position in Comstock Resources by 16.1% in the second quarter. Cubist Systematic Strategies LLC now owns 158,435 shares of the company’s stock worth $133,000 after buying an additional 21,992 shares during the period. Schwab Charles Investment Management Inc. acquired a new position in Comstock Resources during the second quarter worth $229,000. Mariner Investment Group LLC acquired a new position in Comstock Resources during the second quarter worth $237,000. Finally, Spark Investment Management LLC acquired a new position in Comstock Resources during the second quarter worth $313,000.
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The firm has a 50-day moving average price of $7.11 and a 200-day moving average price of $4.78. The firm’s market cap is $100.91 million.
Comstock Resources (NYSE:CRK) last announced its earnings results on Monday, August 1st. The company reported ($4.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by $3.39. Comstock Resources had a negative net margin of 475.42% and a negative return on equity of 202.37%. The business earned $40.72 million during the quarter, compared to analysts’ expectations of $39.16 million. During the same period in the previous year, the company posted ($1.11) earnings per share. Comstock Resources’s quarterly revenue was down 47.3% on a year-over-year basis. On average, equities research analysts predict that Comstock Resources Inc. will post ($12.63) earnings per share for the current fiscal year.
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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