Comstock Resources Inc. (CRK) PT Raised to $8.50 at Imperial Capital
Comstock Resources Inc. (NYSE:CRK) had its price objective boosted by analysts at Imperial Capital from $3.75 to $8.50 in a note issued to investors on Friday. The brokerage currently has an “in-line” rating on the stock. Imperial Capital’s target price would indicate a potential upside of 10.39% from the company’s current price.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Comstock Resources from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Tuesday, July 5th. Stifel Nicolaus reissued a “hold” rating on shares of Comstock Resources in a research report on Wednesday, August 31st. Finally, Robert W. Baird lifted their price objective 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 research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $10.54.
Comstock Resources (NYSE:CRK) opened at 7.70 on Friday. The company has a 50-day moving average of $7.08 and a 200 day moving average of $4.76. Comstock Resources has a 52-week low of $2.64 and a 52-week high of $16.40. The firm’s market cap is $96.28 million.
Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Monday, August 1st. The company reported ($4.05) earnings per share (EPS) for the quarter, missing the 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 business earned $40.72 million during the quarter, compared to analyst estimates of $39.16 million. During the same quarter in the previous year, the firm posted ($1.11) earnings per share. The firm’s quarterly revenue was down 47.3% on a year-over-year basis. On average, equities research analysts anticipate that Comstock Resources will post ($12.63) EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC bought a new position in Comstock Resources during the first quarter valued at $121,000. 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 valued at $133,000 after buying an additional 21,992 shares in the last quarter. Schwab Charles Investment Management Inc. bought a new position in Comstock Resources during the second quarter valued at $229,000. Mariner Investment Group LLC bought a new position in Comstock Resources during the second quarter valued at $237,000. Finally, Spark Investment Management LLC bought a new position in Comstock Resources during the second quarter valued at $313,000.
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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