Comstock Resources Inc (NYSE:CRK) – KeyCorp reduced their FY2017 earnings per share (EPS) estimates for Comstock Resources in a report released on Tuesday. KeyCorp analyst C. Stevens now anticipates that the oil and gas producer will post earnings of ($4.49) per share for the year, down from their previous forecast of ($4.47). KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Comstock Resources’ Q4 2017 earnings at ($0.88) EPS, Q1 2018 earnings at ($0.60) EPS, Q2 2018 earnings at ($0.86) EPS, Q3 2018 earnings at ($0.80) EPS, Q4 2018 earnings at ($0.53) EPS, FY2018 earnings at ($2.79) EPS, Q1 2019 earnings at ($0.15) EPS, Q2 2019 earnings at ($0.36) EPS, Q3 2019 earnings at ($0.33) EPS and FY2019 earnings at ($1.06) EPS.

A number of other research firms also recently commented on CRK. ValuEngine downgraded shares of Comstock Resources from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Robert W. Baird set a $12.00 price target on shares of Comstock Resources and gave the company a “buy” rating in a report on Friday, November 17th. Finally, Barclays lowered their price target on shares of Comstock Resources from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 11th. Three analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $11.40.

Comstock Resources (NYSE:CRK) opened at $7.37 on Friday. Comstock Resources has a one year low of $4.01 and a one year high of $13.42. The company has a debt-to-equity ratio of -3.32, a quick ratio of 0.58 and a current ratio of 0.58.

In related news, CEO M Jay Allison purchased 120,000 shares of the stock in a transaction on Wednesday, December 6th. The shares were purchased at an average cost of $6.53 per share, with a total value of $783,600.00. Following the acquisition, the chief executive officer now directly owns 520,130 shares in the company, valued at $3,396,448.90. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 11.60% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp raised its holdings in Comstock Resources by 3.4% in the 2nd quarter. Northern Trust Corp now owns 31,745 shares of the oil and gas producer’s stock valued at $225,000 after acquiring an additional 1,055 shares during the period. Russell Investments Group Ltd. raised its holdings in Comstock Resources by 7.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 48,105 shares of the oil and gas producer’s stock valued at $340,000 after acquiring an additional 3,345 shares during the period. ACR Alpine Capital Research LLC bought a new position in Comstock Resources in the 3rd quarter valued at about $304,000. Bank of New York Mellon Corp increased its holdings in shares of Comstock Resources by 23.6% during 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 period. Finally, Macquarie Group Ltd. bought a new position in shares of Comstock Resources during the third quarter worth approximately $430,000. 52.69% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Earnings History and Estimates for Comstock Resources (NYSE:CRK)

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