Shares of Comstock Resources Inc. (NYSE:CRK) have earned a consensus rating of “Hold” from the ten ratings firms that are currently covering the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $9.40.
CRK has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Comstock Resources from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a research note on Tuesday, July 5th. Stifel Nicolaus reiterated a “hold” rating on shares of Comstock Resources in a research note on Wednesday, August 31st. Imperial Capital lifted their target price on Comstock Resources from $3.75 to $8.50 and gave the stock an “in-line” rating in a research note on Friday, October 7th. Finally, Robert W. Baird lifted their price objective on Comstock Resources from $6.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, September 15th.
Comstock Resources (NYSE:CRK) opened at 8.14 on Monday. The stock has a 50 day moving average of $7.47 and a 200-day moving average of $4.94. Comstock Resources has a 12-month low of $2.64 and a 12-month high of $15.00. The company’s market cap is $101.78 million.
Comstock Resources (NYSE:CRK) last released its earnings results on Monday, August 1st. The company reported ($4.05) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.66) by $3.39. The business had revenue of $40.72 million for the quarter, compared to the consensus estimate of $39.16 million. Comstock Resources had a negative return on equity of 202.37% and a negative net margin of 475.42%. The company’s revenue for the quarter was down 47.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.11) earnings per share. On average, equities research analysts anticipate that Comstock Resources will post ($12.63) earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Oasis Management Co Ltd. bought a new position in Comstock Resources during the first quarter worth $1,990,000. Phoenix Investment Adviser LLC bought a new position in Comstock Resources during the second quarter worth $1,603,000. Spark Investment Management LLC bought a new position in Comstock Resources during the second quarter worth $313,000. BlackRock Institutional Trust Company N.A. raised its position in 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 worth $967,000 after buying an additional 311,590 shares during the last quarter. Finally, Mariner Investment Group LLC bought a new position in Comstock Resources during the second quarter worth $237,000.
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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