Comstock Resources Inc. (CRK) Sees Significant Growth in Short Interest
Comstock Resources Inc. (NYSE:CRK) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 1,451,416 shares, a growth of 57.4% from the August 31st total of 922,218 shares. Approximately 16.3% of the company’s shares are short sold. Based on an average daily trading volume, of 951,858 shares, the short-interest ratio is presently 1.5 days.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC boosted its position in Comstock Resources by 16.1% in the second quarter. Cubist Systematic Strategies LLC now owns 158,435 shares of the company’s stock worth $133,000 after buying an additional 21,992 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Comstock Resources by 8.3% in the second quarter. Vanguard Group Inc. now owns 1,493,844 shares of the company’s stock valued at $1,255,000 after buying an additional 114,614 shares in the last quarter. Bridgeway Capital Management Inc. boosted its stake in shares of Comstock Resources by 19.6% in the second quarter. Bridgeway Capital Management Inc. now owns 842,200 shares of the company’s stock valued at $708,000 after buying an additional 137,825 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of Comstock Resources by 10.4% in the second quarter. California Public Employees Retirement System now owns 1,641,256 shares of the company’s stock valued at $1,379,000 after buying an additional 154,700 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Comstock Resources during the first quarter valued at about $121,000.
CRK has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Comstock Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, June 7th. Stifel Nicolaus reissued a “hold” rating on shares of Comstock Resources in a research report on Wednesday, August 31st. Finally, Robert W. Baird raised their target price on shares of Comstock Resources from $6.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, September 15th. One equities research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $9.17.
Shares of Comstock Resources (NYSE:CRK) opened at 7.64 on Monday. The firm’s market capitalization is $95.53 million. The company has a 50-day moving average of $6.82 and a 200-day moving average of $4.66. Comstock Resources has a 1-year low of $2.64 and a 1-year high of $16.90.
Comstock Resources (NYSE:CRK) last posted 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. Comstock Resources had a negative net margin of 475.42% and a negative return on equity of 202.37%. The company earned $40.72 million during the quarter, compared to analyst estimates of $39.16 million. During the same period in the previous year, the company earned ($1.11) EPS. The company’s quarterly revenue was down 47.3% compared to the same quarter last year. Equities research analysts predict that Comstock Resources will post ($12.63) EPS for the current fiscal year.
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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