Comstock Resources Inc (NYSE:CRK) shares were down 10.3% during trading on Tuesday . The company traded as low as $7.86 and last traded at $8.19, approximately 2,072,766 shares traded hands during trading. An increase of 391% from the average daily volume of 422,384 shares. The stock had previously closed at $9.13.

A number of research firms recently weighed in on CRK. Capital One Financial raised Comstock Resources from an “underweight” rating to an “equal weight” rating in a research report on Thursday, May 23rd. B. Riley assumed coverage on Comstock Resources in a research report on Monday, May 20th. They issued a “neutral” rating and a $6.50 price objective for the company. Zacks Investment Research lowered Comstock Resources from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. Finally, ValuEngine lowered Comstock Resources from a “sell” rating to a “strong sell” rating in a report on Monday, June 3rd.

The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.66 and a current ratio of 0.66. The stock’s 50 day simple moving average is $6.11 and its two-hundred day simple moving average is $6.11.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.10). The business had revenue of $128.12 million during the quarter, compared to analyst estimates of $127.90 million. Comstock Resources had a net margin of 16.09% and a return on equity of 12.24%. Equities analysts forecast that Comstock Resources Inc will post 0.74 EPS for the current fiscal year.

In other Comstock Resources news, major shareholder Star Exploration Corp Blue bought 50,000,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were acquired at an average cost of $6.00 per share, for a total transaction of $300,000,000.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 2.20% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. ACR Alpine Capital Research LLC lifted its position in shares of Comstock Resources by 11.1% during the 2nd quarter. ACR Alpine Capital Research LLC now owns 553,035 shares of the oil and gas producer’s stock worth $3,080,000 after buying an additional 55,251 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of Comstock Resources by 136.2% during the second quarter. BNP Paribas Arbitrage SA now owns 107,852 shares of the oil and gas producer’s stock valued at $601,000 after acquiring an additional 62,182 shares during the period. Howard Financial Services LTD. bought a new position in shares of Comstock Resources during the second quarter valued at $176,000. Millennium Management LLC boosted its stake in shares of Comstock Resources by 136.2% in the 4th quarter. Millennium Management LLC now owns 27,096 shares of the oil and gas producer’s stock valued at $123,000 after purchasing an additional 15,626 shares in the last quarter. Finally, Quantamental Technologies LLC acquired a new stake in shares of Comstock Resources in the 1st quarter valued at $30,000. 3.43% of the stock is owned by institutional investors and hedge funds.

Comstock Resources Company Profile (NYSE:CRK)

Comstock Resources, Inc and its subsidiaries engage in the acquisition, exploration for, development, and production of oil and natural gas properties, primarily in Texas, Louisiana, and North Dakota. The company is headquartered in Frisco, Texas.

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