Comstock Resources, Inc. (NYSE:CRK) Receives Average Rating of “Hold” from Brokerages

Comstock Resources, Inc. (NYSE:CRKGet Free Report) has been assigned a consensus rating of “Hold” from the nine analysts that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $10.25.

A number of analysts recently commented on the company. Stifel Nicolaus lowered their price objective on Comstock Resources from $14.00 to $13.50 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. StockNews.com raised shares of Comstock Resources to a “sell” rating in a research note on Monday, April 29th. The Goldman Sachs Group lifted their price target on shares of Comstock Resources from $9.00 to $10.00 and gave the stock a “sell” rating in a research report on Tuesday. Mizuho raised their price objective on Comstock Resources from $10.00 to $11.00 and gave the stock an “underperform” rating in a research note on Monday, May 13th. Finally, Capital One Financial downgraded Comstock Resources from an “overweight” rating to an “equal weight” rating in a report on Wednesday, May 15th.

Read Our Latest Report on Comstock Resources

Insider Buying and Selling at Comstock Resources

In other news, major shareholder Star Exploration Corp Blue purchased 12,500,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was acquired at an average cost of $8.04 per share, with a total value of $100,500,000.00. Following the acquisition, the insider now owns 194,821,429 shares in the company, valued at approximately $1,566,364,289.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Comstock Resources

Several institutional investors have recently made changes to their positions in CRK. Charles Schwab Investment Management Inc. grew its stake in Comstock Resources by 7.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 922,263 shares of the oil and gas producer’s stock worth $10,173,000 after buying an additional 60,830 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Comstock Resources by 280.7% during the 3rd quarter. Hsbc Holdings PLC now owns 409,406 shares of the oil and gas producer’s stock worth $4,556,000 after acquiring an additional 301,863 shares in the last quarter. Barclays PLC increased its stake in Comstock Resources by 139.7% in the third quarter. Barclays PLC now owns 326,486 shares of the oil and gas producer’s stock valued at $3,600,000 after acquiring an additional 190,254 shares during the last quarter. Jump Financial LLC acquired a new position in Comstock Resources during the fourth quarter valued at approximately $662,000. Finally, KGH Ltd raised its position in Comstock Resources by 119.3% during the third quarter. KGH Ltd now owns 8,586,000 shares of the oil and gas producer’s stock valued at $94,704,000 after purchasing an additional 4,670,959 shares in the last quarter. 36.13% of the stock is currently owned by institutional investors.

Comstock Resources Price Performance

Comstock Resources stock opened at $11.23 on Thursday. The business has a 50 day simple moving average of $9.84 and a 200 day simple moving average of $9.13. Comstock Resources has a one year low of $7.07 and a one year high of $13.39. The company has a market capitalization of $3.28 billion, a PE ratio of 51.03 and a beta of 0.70. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.64 and a quick ratio of 0.64.

Comstock Resources (NYSE:CRKGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. The business had revenue of $335.77 million for the quarter, compared to analyst estimates of $343.97 million. Comstock Resources had a return on equity of 1.25% and a net margin of 4.27%. Comstock Resources’s revenue for the quarter was down 31.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.33 EPS. On average, sell-side analysts forecast that Comstock Resources will post -0.11 EPS for the current fiscal year.

Comstock Resources Company Profile

(Get Free Report

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. Its assets are located in the Haynesville and Bossier shales located in North Louisiana and East Texas. The company was incorporated in 1919 and is headquartered in Frisco, Texas.

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Analyst Recommendations for Comstock Resources (NYSE:CRK)

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