Comstock Resources (NYSE:CRK) Sets New 1-Year High at $9.49

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Comstock Resources Inc (NYSE:CRK) hit a new 52-week high on Friday . The stock traded as high as $9.49 and last traded at $9.39, with a volume of 84173 shares changing hands. The stock had previously closed at $8.50.

CRK has been the topic of several analyst reports. Capital One Financial upgraded shares of Comstock Resources from an “underweight” rating to an “equal weight” rating in a report on Thursday, May 23rd. B. Riley initiated coverage on shares of Comstock Resources in a report on Monday, May 20th. They issued a “neutral” rating and a $6.50 price objective on the stock. Finally, ValuEngine lowered shares of Comstock Resources from a “sell” rating to a “strong sell” rating in a report on Monday, June 3rd.

The company’s fifty day simple moving average is $6.22 and its two-hundred day simple moving average is $6.12. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.10.

Comstock Resources (NYSE:CRK) last posted its earnings results on Wednesday, August 7th. The oil and gas producer reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.10). The firm had revenue of $128.12 million during the quarter, compared to analyst estimates of $127.90 million. Comstock Resources had a return on equity of 12.24% and a net margin of 16.09%. Sell-side analysts anticipate that Comstock Resources Inc will post 0.74 EPS for the current year.

In other news, major shareholder Star Exploration Corp Blue bought 50,000,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were bought at an average cost of $6.00 per share, for a total transaction of $300,000,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.20% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of CRK. Jane Street Group LLC bought a new stake in shares of Comstock Resources during the second quarter worth $71,000. Hilltop Holdings Inc. increased its position in shares of Comstock Resources by 30.0% during the second quarter. Hilltop Holdings Inc. now owns 13,000 shares of the oil and gas producer’s stock worth $73,000 after acquiring an additional 3,000 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Comstock Resources during the second quarter worth $767,000. Vanguard Group Inc. increased its position in shares of Comstock Resources by 12.4% during the second quarter. Vanguard Group Inc. now owns 637,641 shares of the oil and gas producer’s stock worth $3,552,000 after acquiring an additional 70,212 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of Comstock Resources by 187.6% during the second quarter. BlackRock Inc. now owns 1,087,908 shares of the oil and gas producer’s stock worth $6,060,000 after acquiring an additional 709,665 shares in the last quarter. Institutional investors own 3.43% of the company’s stock.

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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