Comstock Resources Inc. (CRK) Shares Up 6.6% on Analyst Upgrade
Comstock Resources Inc. (NYSE:CRK) shares shot up 6.6% on Monday after Imperial Capital raised their price target on the stock from $3.75 to $8.50. Imperial Capital currently has an in-line rating on the stock. Comstock Resources traded as high as $8.25 and last traded at $8.05, with a volume of 340,193 shares trading hands. The stock had previously closed at $7.55.
Several other brokerages also recently weighed in on CRK. Robert W. Baird upped their target price on shares of Comstock Resources from $6.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, September 15th. Zacks Investment Research upgraded shares of Comstock Resources from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a research note on Monday, October 3rd. Finally, Stifel Nicolaus reiterated a “hold” rating on shares of Comstock Resources in a research note on Wednesday, August 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $10.54.
Several hedge funds have recently modified their holdings of the company. Oasis Management Co Ltd. acquired a new stake in shares of Comstock Resources during the first quarter worth $1,990,000. Phoenix Investment Adviser LLC acquired a new stake in shares of Comstock Resources during the second quarter worth $1,603,000. 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 worth $1,379,000 after buying an additional 154,700 shares during the period. 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 worth $1,255,000 after buying an additional 114,614 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake 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 period.
The stock’s market cap is $100.66 million. The firm has a 50 day moving average price of $7.17 and a 200-day moving average price of $4.83.
Comstock Resources (NYSE:CRK) last released its quarterly 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 firm earned $40.72 million during the quarter, compared to the consensus estimate of $39.16 million. During the same period in the prior year, the business earned ($1.11) EPS. The company’s revenue for the quarter was down 47.3% compared to the same quarter last year. Equities analysts expect that Comstock Resources Inc. will post ($12.63) earnings per share for the current year.
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.
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