Comstock Resources, Inc. (CRK) Issues Quarterly Earnings Results
Comstock Resources, Inc. (NYSE:CRK) posted its earnings results on Monday. The oil and gas producer reported ($1.07) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.67) by $0.60, Bloomberg Earnings reports. During the same quarter in the prior year, the company earned $0.41 earnings per share.
Shares of Comstock Resources (NYSE:CRK) traded up 4.71% during mid-day trading on Tuesday, hitting $6.67. 43,475 shares of the stock were exchanged. The company’s market capitalization is $102.53 million. The firm has a 50-day moving average price of $6.94 and a 200 day moving average price of $8.62. Comstock Resources has a 12-month low of $2.79 and a 12-month high of $13.42.
Several research firms have commented on CRK. Capital One Financial Corporation reissued an “underweight” rating on shares of Comstock Resources in a research report on Monday. Zacks Investment Research downgraded shares of Comstock Resources from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $12.50.
Several institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its position in Comstock Resources by 23.6% in the second quarter. Bank of New York Mellon Corp now owns 54,970 shares of the oil and gas producer’s stock valued at $389,000 after buying an additional 10,480 shares in the last quarter. Hodges Capital Management Inc. boosted its position in Comstock Resources by 5.9% in the second quarter. Hodges Capital Management Inc. now owns 1,583,867 shares of the oil and gas producer’s stock valued at $11,198,000 after buying an additional 87,805 shares in the last quarter. Parkwood LLC boosted its position in Comstock Resources by 59.9% in the second quarter. Parkwood LLC now owns 126,347 shares of the oil and gas producer’s stock valued at $893,000 after buying an additional 47,326 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Comstock Resources by 7.5% in the second quarter. Russell Investments Group Ltd. now owns 48,105 shares of the oil and gas producer’s stock valued at $340,000 after buying an additional 3,345 shares in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in Comstock Resources during the first quarter valued at $1,536,000. 50.77% of the stock is owned by institutional investors and hedge funds.
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Comstock Resources Company Profile
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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