Comstock Resources Inc (CRK) Given Average Recommendation of “Hold” by Analysts

Comstock Resources Inc (NYSE:CRK) has earned a consensus recommendation of “Hold” from the seven analysts that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $10.00.

A number of equities research analysts have recently commented on CRK shares. Zacks Investment Research cut Comstock Resources from a “buy” rating to a “hold” rating in a research note on Thursday, March 15th. KeyCorp reissued a “hold” rating on shares of Comstock Resources in a research note on Friday, November 24th.

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In related news, CEO M Jay Allison bought 12,500 shares of the business’s stock in a transaction dated Thursday, December 28th. The shares were purchased at an average cost of $8.00 per share, with a total value of $100,000.00. Following the completion of the purchase, the chief executive officer now owns 611,630 shares in the company, valued at approximately $4,893,040. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 11.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Comstock Resources by 40.4% during the second quarter. Vanguard Group Inc. now owns 628,355 shares of the oil and gas producer’s stock valued at $4,443,000 after buying an additional 180,935 shares during the last quarter. First Washington CORP boosted its position in shares of Comstock Resources by 227.8% during the third quarter. First Washington CORP now owns 368,562 shares of the oil and gas producer’s stock valued at $2,241,000 after buying an additional 256,122 shares during the last quarter. Guggenheim Capital LLC purchased a new stake in shares of Comstock Resources during the fourth quarter valued at $2,223,000. Renaissance Technologies LLC purchased a new stake in shares of Comstock Resources during the fourth quarter valued at $1,228,000. Finally, Macquarie Group Ltd. purchased a new stake in shares of Comstock Resources during the third quarter valued at $430,000. 44.19% of the stock is currently owned by institutional investors.

CRK stock traded up $0.05 during midday trading on Thursday, hitting $7.30. The stock had a trading volume of 260,665 shares, compared to its average volume of 546,709. Comstock Resources has a 52-week low of $4.01 and a 52-week high of $10.72. The stock has a market capitalization of $123.35, a PE ratio of -0.97 and a beta of 0.04. The company has a debt-to-equity ratio of -3.01, a quick ratio of 1.80 and a current ratio of 1.80.

Comstock Resources (NYSE:CRK) last released its earnings results on Monday, February 26th. The oil and gas producer reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.63. The company had revenue of $73.25 million during the quarter, compared to analysts’ expectations of $71.92 million. During the same period in the prior year, the company posted ($2.58) earnings per share. equities research analysts expect that Comstock Resources will post -3.51 earnings per share for the current year.

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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.

Analyst Recommendations for Comstock Resources (NYSE:CRK)

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