Comstock Resources Inc. (CRK) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Comstock Resources Inc. (NYSE:CRK) have received a consensus recommendation of “Hold” from the nine analysts that are currently covering the firm. One analyst has rated the stock with a sell rating and eight have given a hold rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $7.00.
Several analysts have weighed in on CRK shares. Zacks Investment Research raised Comstock Resources from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a report on Monday, October 3rd. Robert W. Baird upped their target price on Comstock Resources from $6.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, September 15th. Imperial Capital upped their target price on Comstock Resources from $3.75 to $8.50 and gave the company an “in-line” rating in a report on Friday, October 7th. Finally, Stifel Nicolaus reissued a “hold” rating on shares of Comstock Resources in a report on Wednesday, August 31st.
Shares of Comstock Resources (NYSE:CRK) opened at 8.78 on Tuesday. The company has a 50-day moving average of $8.55 and a 200 day moving average of $5.69. The stock’s market capitalization is $109.79 million. Comstock Resources has a one year low of $2.64 and a one year high of $14.00.
Comstock Resources (NYSE:CRK) last posted its earnings results on Tuesday, November 8th. The company reported ($3.27) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.45) by $0.82. The firm earned $50.33 million during the quarter, compared to analyst estimates of $44.98 million. Comstock Resources had a negative net margin of 210.50% and a negative return on equity of 202.37%. The firm’s revenue for the quarter was down 18.0% on a year-over-year basis. During the same period last year, the company posted ($5.30) EPS. Equities research analysts forecast that Comstock Resources will post ($13.26) earnings per share for the current fiscal year.
In other Comstock Resources news, Director Cecil E. Martin, Jr. bought 5,500 shares of Comstock Resources stock in a transaction that occurred on Tuesday, November 15th. The shares were purchased at an average cost of $8.95 per share, for a total transaction of $49,225.00. Following the completion of the transaction, the director now owns 34,524 shares of the company’s stock, valued at approximately $308,989.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC increased 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 during the period. Schwab Charles Investment Management Inc. purchased a new position in Comstock Resources during the second quarter worth approximately $229,000. Mariner Investment Group LLC purchased a new position in Comstock Resources during the second quarter worth approximately $237,000. Spark Investment Management LLC purchased a new position in Comstock Resources during the second quarter worth approximately $313,000. Finally, Wells Fargo & Company MN increased its position in Comstock Resources by 596.2% in the third quarter. Wells Fargo & Company MN now owns 60,578 shares of the company’s stock worth $463,000 after buying an additional 51,877 shares during the period.
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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