Comstock Resources, Inc. (CRK) Receives Average Recommendation of “Hold” from Brokerages
Shares of Comstock Resources, Inc. (NYSE:CRK) have earned an average rating of “Hold” from the nine analysts that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $12.40.
A number of analysts recently issued reports on CRK shares. ValuEngine cut Comstock Resources from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Barclays PLC reduced their price objective on Comstock Resources from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 11th. KeyCorp reissued a “hold” rating on shares of Comstock Resources in a research report on Monday, October 16th. Zacks Investment Research cut Comstock Resources from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, Stifel Nicolaus set a $12.00 price objective on Comstock Resources and gave the company a “buy” rating in a research report on Monday, August 14th.
Shares of Comstock Resources (CRK) opened at $5.62 on Friday. The company has a debt-to-equity ratio of -3.51, a quick ratio of 0.68 and a current ratio of 0.68.
Comstock Resources (NYSE:CRK) last released its quarterly earnings data on Monday, August 7th. The oil and gas producer reported ($1.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.67) by $0.60. The firm had revenue of $61.47 million for the quarter, compared to analyst estimates of $63.93 million. During the same period in the previous year, the business posted $0.41 EPS. equities research analysts predict that Comstock Resources will post -5.45 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. First Washington CORP bought a new position in Comstock Resources during the second quarter valued at about $795,000. Paloma Partners Management Co bought a new position in Comstock Resources during the first quarter valued at about $998,000. SG Americas Securities LLC bought a new position in Comstock Resources during the first quarter valued at about $176,000. Goldman Sachs Group Inc. bought a new position in Comstock Resources during the first quarter valued at about $1,536,000. Finally, Hodges Capital Management Inc. raised its holdings in Comstock Resources by 5.9% during 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. Institutional investors own 53.42% of the company’s stock.
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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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