Comstock Resources (CRK) Shares Down 6.5%

Share on StockTwits

Comstock Resources Inc (NYSE:CRK)’s share price fell 6.5% on Thursday . The company traded as low as $8.08 and last traded at $8.09. 688,988 shares traded hands during mid-day trading, an increase of 1% from the average session volume of 680,040 shares. The stock had previously closed at $8.65.

A number of brokerages have weighed in on CRK. Stifel Nicolaus began coverage on Comstock Resources in a research note on Tuesday, May 22nd. They issued a “hold” rating and a $9.80 target price on the stock. Capital One Financial upgraded Comstock Resources from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 22nd. Zacks Investment Research upgraded Comstock Resources from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Tuesday, June 12th. ValuEngine upgraded Comstock Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, May 29th. Finally, LADENBURG THALM/SH SH upgraded Comstock Resources from a “neutral” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Thursday, August 9th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $10.16.

The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of -2.61. The company has a market capitalization of $157.58 million, a price-to-earnings ratio of -2.09 and a beta of -0.14.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Wednesday, August 8th. The oil and gas producer reported ($0.78) EPS for the quarter, meeting the consensus estimate of ($0.78). The firm had revenue of $61.45 million for the quarter, compared to the consensus estimate of $62.35 million. equities analysts forecast that Comstock Resources Inc will post 0.02 EPS for the current year.

Several institutional investors have recently made changes to their positions in CRK. Millennium Management LLC bought a new position in shares of Comstock Resources during the 1st quarter valued at about $2,130,000. Spark Investment Management LLC increased its position in shares of Comstock Resources by 402.3% during the 2nd quarter. Spark Investment Management LLC now owns 280,800 shares of the oil and gas producer’s stock valued at $2,951,000 after purchasing an additional 224,900 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Comstock Resources by 18.8% during the 2nd quarter. Renaissance Technologies LLC now owns 778,500 shares of the oil and gas producer’s stock valued at $8,182,000 after purchasing an additional 123,000 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Comstock Resources by 782.0% during the 2nd quarter. Acadian Asset Management LLC now owns 107,624 shares of the oil and gas producer’s stock valued at $1,131,000 after purchasing an additional 95,422 shares during the last quarter. Finally, Hawk Ridge Capital Management LP bought a new position in shares of Comstock Resources during the 1st quarter valued at about $697,000. Hedge funds and other institutional investors own 38.29% of the company’s stock.

Comstock Resources Company Profile (NYSE:CRK)

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and gas resources primarily in Texas and Louisiana. The company is headquartered in Frisco, Texas.

Featured Article: What does earnings per share mean?

Receive News & Ratings for Comstock Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comstock Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply