Comstock Resources (CRK) Debt Trading 0.6% Lower

An issue of Comstock Resources Inc (NYSE:CRK) debt fell 0.6% against its face value during trading on Thursday. The high-yield issue of debt has a 10% coupon and is set to mature on March 15, 2020. The bonds in the issue are now trading at $102.38. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its share price.

Separately, Zacks Investment Research raised Comstock Resources from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a research note on Thursday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $9.13.

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Shares of NYSE:CRK traded down $0.57 during trading on Friday, reaching $5.49. 761,377 shares of the stock were exchanged, compared to its average volume of 546,640. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of -3.01. Comstock Resources Inc has a 1-year low of $4.01 and a 1-year high of $10.72. The firm has a market capitalization of $97.97, a price-to-earnings ratio of -1.41 and a beta of -0.09.

Comstock Resources (NYSE:CRK) last issued its earnings results on Monday, February 26th. The oil and gas producer reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.63. The firm had revenue of $73.25 million for the quarter, compared to analyst estimates of $71.92 million. During the same period in the previous year, the company earned ($2.58) earnings per share. equities research analysts anticipate that Comstock Resources Inc will post 0.28 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the company. Northern Trust Corp raised its position in shares of Comstock Resources by 3.4% during the second quarter. Northern Trust Corp now owns 31,745 shares of the oil and gas producer’s stock worth $225,000 after purchasing an additional 1,055 shares during the period. Russell Investments Group Ltd. raised its position in shares of Comstock Resources by 22.7% during the third quarter. Russell Investments Group Ltd. now owns 59,041 shares of the oil and gas producer’s stock worth $359,000 after purchasing an additional 10,936 shares during the period. PEAK6 Investments L.P. acquired a new position in shares of Comstock Resources during the fourth quarter worth approximately $104,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Comstock Resources during the fourth quarter worth approximately $228,000. Finally, Citadel Advisors LLC raised its position in shares of Comstock Resources by 339.3% during the fourth quarter. Citadel Advisors LLC now owns 44,516 shares of the oil and gas producer’s stock worth $377,000 after purchasing an additional 34,383 shares during the period. 44.19% of the stock is currently owned by institutional investors.

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About Comstock Resources

Comstock Resources, Inc is an energy company engaged in the acquisition, exploration, development and production of oil and natural gas in the United States. The Company operates in the segment of exploration and production of oil and natural gas. The Company’s oil and gas operations are concentrated in Texas and Louisiana.

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