Comstock Resources Inc (NYSE:CRK) has earned an average rating of “Buy” from the thirteen brokerages that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $7.64.
CRK has been the topic of several research analyst reports. MKM Partners dropped their price objective on Comstock Resources from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Citigroup assumed coverage on Comstock Resources in a research note on Tuesday, July 21st. They issued a “buy” rating and a $8.00 price objective on the stock. SunTrust Banks dropped their target price on Comstock Resources from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. Piper Sandler assumed coverage on Comstock Resources in a research report on Wednesday, July 8th. They set a “neutral” rating and a $5.50 target price on the stock. Finally, ValuEngine raised Comstock Resources from a “strong sell” rating to a “sell” rating in a research report on Thursday.
In other Comstock Resources news, CFO Roland O. Burns acquired 25,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was purchased at an average price of $4.74 per share, for a total transaction of $118,500.00. Following the acquisition, the chief financial officer now owns 778,440 shares in the company, valued at approximately $3,689,805.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO M Jay Allison acquired 40,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of $4.75 per share, with a total value of $190,000.00. Following the acquisition, the chief executive officer now owns 1,326,601 shares in the company, valued at approximately $6,301,354.75. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 140,000 shares of company stock valued at $663,250. Company insiders own 1.50% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Hodges Capital Management Inc. purchased a new position in Comstock Resources in the 2nd quarter worth $3,224,000. ACR Alpine Capital Research LLC raised its stake in shares of Comstock Resources by 16.4% during the 2nd quarter. ACR Alpine Capital Research LLC now owns 503,942 shares of the oil and gas producer’s stock valued at $2,207,000 after buying an additional 70,897 shares during the last quarter. Arosa Capital Management LP raised its stake in shares of Comstock Resources by 130.9% during the 1st quarter. Arosa Capital Management LP now owns 344,702 shares of the oil and gas producer’s stock valued at $1,858,000 after buying an additional 195,426 shares during the last quarter. State Street Corp grew its position in shares of Comstock Resources by 12.5% during the 1st quarter. State Street Corp now owns 254,016 shares of the oil and gas producer’s stock valued at $1,369,000 after acquiring an additional 28,163 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Comstock Resources by 377.2% during the 4th quarter. Bank of New York Mellon Corp now owns 251,333 shares of the oil and gas producer’s stock valued at $2,069,000 after acquiring an additional 198,669 shares during the period. Institutional investors own 3.21% of the company’s stock.
Shares of NYSE:CRK opened at $5.36 on Thursday. Comstock Resources has a 52-week low of $4.05 and a 52-week high of $10.70. The stock has a market cap of $1.02 billion, a P/E ratio of 10.11 and a beta of 1.02. The business’s 50 day moving average is $4.77 and its 200 day moving average is $5.71. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.14.
Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Wednesday, May 6th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.06. Comstock Resources had a return on equity of 14.63% and a net margin of 14.45%. The company had revenue of $225.88 million for the quarter, compared to analysts’ expectations of $242.75 million. On average, sell-side analysts anticipate that Comstock Resources will post 0.27 EPS for the current fiscal year.
About Comstock Resources
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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