An issue of Comstock Resources Inc (NYSE:CRK) bonds fell 0.6% as a percentage of their face value during trading on Monday. The debt issue has a 10% coupon and is set to mature on March 15, 2020. The debt is now trading at $101.75 and was trading at $104.25 one week ago. Price changes in a company’s bonds in credit markets often predict parallel changes in its share price.
Separately, Zacks Investment Research lowered shares of Comstock Resources from a “buy” rating to a “hold” rating in a research report on Thursday, March 15th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $9.13.
Shares of NYSE CRK traded down $0.38 during midday trading on Monday, hitting $5.11. 1,087,320 shares of the company’s stock traded hands, compared to its average volume of 585,502. 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 $88.75, a P/E ratio of -1.34 and a beta of -0.10. 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 (NYSE:CRK) last released its quarterly earnings results on Monday, February 26th. The oil and gas producer reported ($0.31) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.94) by $0.63. The business had revenue of $73.25 million for the quarter, compared to analysts’ expectations of $71.92 million. During the same period in the previous year, the company earned ($2.58) EPS. equities research analysts anticipate that Comstock Resources Inc will post 0.28 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRK. Guggenheim Capital LLC purchased a new stake in shares of Comstock Resources during the 4th quarter valued at about $2,223,000. Renaissance Technologies LLC purchased a new stake in Comstock Resources in the 4th quarter worth approximately $1,228,000. Macquarie Group Ltd. purchased a new stake in Comstock Resources in the 3rd quarter worth approximately $430,000. Virtu Financial LLC increased its holdings in Comstock Resources by 362.4% in the 4th quarter. Virtu Financial LLC now owns 58,828 shares of the oil and gas producer’s stock worth $498,000 after acquiring an additional 46,107 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC purchased a new stake in Comstock Resources in the 4th quarter worth approximately $307,000. 44.19% of the stock is owned by hedge funds and other 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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