Comstock Resources Inc. (NYSE:CRK) Receives Average Rating of “Hold” from Analysts
Shares of Comstock Resources Inc. (NYSE:CRK) have received an average rating of “Hold” from the ten research firms that are covering the firm. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $9.40.
Several equities analysts have recently commented on the stock. Imperial Capital increased their price target on shares of Comstock Resources from $3.75 to $8.50 and gave the stock an “in-line” rating in a research report on Friday. Zacks Investment Research raised shares of Comstock Resources from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research report on Monday, October 3rd. Stifel Nicolaus reaffirmed a “hold” rating on shares of Comstock Resources in a research report on Wednesday, August 31st. Finally, Robert W. Baird increased their price target on shares of Comstock Resources from $6.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, September 15th.
Several large investors have recently made changes to their positions in the stock. BlackRock Institutional Trust Company N.A. raised its stake in shares of 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 last quarter. Renaissance Technologies LLC purchased a new stake in shares of Comstock Resources during the first quarter valued at approximately $121,000. Oasis Management Co Ltd. purchased a new stake in shares of Comstock Resources during the first quarter valued at approximately $1,990,000. Mariner Investment Group LLC purchased a new stake in shares of Comstock Resources during the second quarter valued at approximately $237,000. Finally, California Public Employees Retirement System raised its stake in shares of 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 last quarter.
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Shares of Comstock Resources (NYSE:CRK) traded up 5.96% during midday trading on Monday, reaching $8.00. The company’s stock had a trading volume of 322,571 shares. Comstock Resources has a 1-year low of $2.64 and a 1-year high of $15.00. The company’s market capitalization is $100.03 million. The stock has a 50 day moving average of $7.11 and a 200-day moving average of $4.78.
Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Monday, August 1st. The company reported ($4.05) EPS for the quarter, missing the consensus estimate of ($0.66) by $3.39. Comstock Resources had a negative return on equity of 202.37% and a negative net margin of 475.42%. The company had revenue of $40.72 million for the quarter, compared to the consensus estimate of $39.16 million. During the same period in the previous year, the business posted ($1.11) EPS. The business’s revenue for the quarter was down 47.3% on a year-over-year basis. On average, equities research analysts anticipate that Comstock Resources will post ($12.63) earnings per share for the current 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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