Shares of Comstock Resources Inc (NYSE:CRK) have earned an average rating of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $11.20.
Separately, LADENBURG THALM/SH SH raised shares of Comstock Resources from a “neutral” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Thursday, August 9th.
A number of hedge funds and other institutional investors have recently bought and sold shares of CRK. Millennium Management LLC acquired a new position in shares of Comstock Resources in the first quarter valued at $2,130,000. Spark Investment Management LLC increased its holdings in shares of Comstock Resources by 402.3% in the second quarter. Spark Investment Management LLC now owns 280,800 shares of the oil and gas producer’s stock valued at $2,951,000 after purchasing an additional 224,900 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Comstock Resources by 18.8% in the second quarter. Renaissance Technologies LLC now owns 778,500 shares of the oil and gas producer’s stock valued at $8,182,000 after purchasing an additional 123,000 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Comstock Resources by 782.0% in the second quarter. Acadian Asset Management LLC now owns 107,624 shares of the oil and gas producer’s stock valued at $1,131,000 after purchasing an additional 95,422 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of Comstock Resources in the third quarter valued at $503,000. 38.44% of the stock is currently owned by hedge funds and other institutional investors.
NYSE CRK traded up $0.01 on Friday, hitting $7.41. 9,850 shares of the stock were exchanged, compared to its average volume of 354,292. Comstock Resources has a 52 week low of $4.51 and a 52 week high of $12.32. The firm has a market capitalization of $115.42 million, a P/E ratio of -1.90 and a beta of -0.16.
Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Wednesday, August 8th. The oil and gas producer reported ($0.78) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.78). The firm had revenue of $61.45 million for the quarter, compared to the consensus estimate of $62.35 million. As a group, sell-side analysts expect that Comstock Resources will post 0.22 EPS for the current fiscal year.
About Comstock Resources
Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and gas resources primarily in Texas and Louisiana. The company is headquartered in Frisco, Texas.
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