A number of other analysts have also recently weighed in on the company. Zacks Investment Research cut Comstock Resources from a hold rating to a sell rating in a research report on Monday, July 20th. Citigroup assumed coverage on Comstock Resources in a research report on Tuesday, July 21st. They issued a buy rating and a $8.00 price objective for the company. Capital One Financial raised Comstock Resources from an equal weight rating to an overweight rating in a research report on Monday, May 18th. MKM Partners lowered their price objective on Comstock Resources from $8.00 to $7.00 and set a buy rating for the company in a research report on Friday, May 15th. Finally, BMO Capital Markets assumed coverage on Comstock Resources in a research report on Wednesday, June 17th. They issued an outperform rating and a $8.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. Comstock Resources presently has an average rating of Buy and an average target price of $7.72.
Shares of NYSE CRK opened at $5.36 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 2.14. The stock has a market capitalization of $1.02 billion, a PE ratio of 10.11 and a beta of 1.02. The stock’s fifty day simple moving average is $4.77 and its two-hundred day simple moving average is $5.71. Comstock Resources has a 12-month low of $4.05 and a 12-month high of $10.70.
Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Wednesday, May 6th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.06. The firm had revenue of $225.88 million during the quarter, compared to analysts’ expectations of $242.75 million. Comstock Resources had a return on equity of 14.63% and a net margin of 14.45%. On average, equities analysts predict that Comstock Resources will post 0.27 earnings per share for the current fiscal year.
In related news, Director Jim L. Turner acquired 75,000 shares of Comstock Resources stock in a transaction on Thursday, May 14th. The stock was acquired at an average price of $4.73 per share, for a total transaction of $354,750.00. Following the purchase, the director now owns 164,470 shares of the company’s stock, valued at approximately $777,943.10. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO M Jay Allison acquired 40,000 shares of Comstock Resources stock in a transaction on Thursday, May 14th. The shares were bought at an average price of $4.75 per share, with a total value of $190,000.00. Following the purchase, the chief executive officer now directly owns 1,326,601 shares in the company, valued at approximately $6,301,354.75. The disclosure for this purchase can be found here. Insiders have acquired a total of 140,000 shares of company stock valued at $663,250 in the last quarter. Company insiders own 1.50% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hodges Capital Management Inc. purchased a new position in shares of Comstock Resources during the 2nd quarter valued at about $3,224,000. ACR Alpine Capital Research LLC grew its position 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 acquiring an additional 70,897 shares during the period. Arosa Capital Management LP grew its position 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 acquiring an additional 195,426 shares during the period. 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 and hedge funds own 3.21% of the company’s stock.
Comstock Resources Company Profile
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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