Comstock Resources, Inc. (NYSE:CRK) had its target price cut by equities researchers at Barclays PLC from $7.00 to $6.00 in a research note issued on Wednesday. The firm presently has an “equal weight” rating on the oil and gas producer’s stock. Barclays PLC’s price target would suggest a potential upside of 29.31% from the stock’s current price.
Several other equities research analysts have also recently weighed in on CRK. Stifel Nicolaus set a $12.00 price objective on Comstock Resources and gave the stock a “buy” rating in a report on Monday, August 14th. ValuEngine cut Comstock Resources from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Zacks Investment Research cut Comstock Resources from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, Capital One Financial Corporation reiterated an “underweight” rating on shares of Comstock Resources in a report on Monday, August 7th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $12.40.
Comstock Resources (NYSE:CRK) traded down 3.23% on Wednesday, reaching $4.49. The company’s stock had a trading volume of 295,723 shares. Comstock Resources has a 12 month low of $4.44 and a 12 month high of $13.42. The firm has a 50 day moving average of $5.98 and a 200 day moving average of $7.18. The firm’s market cap is $69.50 million.
Comstock Resources (NYSE:CRK) last issued its earnings results on Monday, August 7th. The oil and gas producer reported ($1.07) earnings per share for the quarter, beating the consensus estimate of ($1.67) by $0.60. The company had revenue of $61.47 million for the quarter, compared to analysts’ expectations of $63.93 million. During the same quarter in the prior year, the company earned $0.41 earnings per share. Analysts anticipate that Comstock Resources will post ($4.87) earnings per share for the current year.
Several large investors have recently made changes to their positions in CRK. Vanguard Group Inc. raised its position in shares of Comstock Resources by 40.4% in the 2nd quarter. Vanguard Group Inc. now owns 628,355 shares of the oil and gas producer’s stock worth $4,443,000 after acquiring an additional 180,935 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in shares of Comstock Resources in the 1st quarter worth approximately $1,536,000. First Washington CORP bought a new position in shares of Comstock Resources in the 2nd quarter worth approximately $795,000. Paloma Partners Management Co bought a new position in shares of Comstock Resources in the 1st quarter worth approximately $998,000. Finally, Hodges Capital Management Inc. raised its position in shares of Comstock Resources by 5.9% in the 2nd quarter. Hodges Capital Management Inc. now owns 1,583,867 shares of the oil and gas producer’s stock worth $11,198,000 after acquiring an additional 87,805 shares in the last quarter. 53.59% of the stock is owned by hedge funds and other institutional investors.
Comstock Resources Company Profile
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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