Comstock Resources, Inc. (CRK) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Comstock Resources, Inc. (NYSE:CRK) have been assigned an average recommendation of “Hold” from the nine research firms that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $12.42.
CRK has been the subject of a number of research analyst reports. ValuEngine cut Comstock Resources from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Zacks Investment Research cut Comstock Resources from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Stifel Nicolaus set a $12.00 price target on Comstock Resources and gave the company a “buy” rating in a research note on Monday, August 14th. Finally, Capital One Financial Corporation reiterated an “underweight” rating on shares of Comstock Resources in a research note on Monday, August 7th.
Shares of Comstock Resources (NYSE:CRK) opened at 6.24 on Friday. Comstock Resources has a 1-year low of $5.52 and a 1-year high of $13.42. The firm’s 50 day moving average price is $6.45 and its 200-day moving average price is $7.61. The company’s market capitalization is $96.58 million.
Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Monday, August 7th. The oil and gas producer reported ($1.07) EPS for the quarter, beating analysts’ consensus estimates of ($1.67) by $0.60. The business had revenue of $61.47 million during the quarter, compared to analysts’ expectations of $63.93 million. During the same quarter last year, the business posted $0.41 earnings per share. Analysts expect that Comstock Resources will post ($4.87) EPS for the current year.
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Several large investors have recently made changes to their positions in the company. Northern Trust Corp raised its stake in shares of Comstock Resources by 3.4% in the second quarter. Northern Trust Corp now owns 31,745 shares of the oil and gas producer’s stock worth $225,000 after purchasing an additional 1,055 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of 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 worth $340,000 after purchasing an additional 3,345 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of 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 worth $389,000 after purchasing an additional 10,480 shares during the last quarter. Segantii Capital Management Ltd purchased a new position in shares of Comstock Resources in the first quarter worth about $148,000. Finally, SG Americas Securities LLC purchased a new position in shares of Comstock Resources in the first quarter worth about $176,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.
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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