Several other analysts have also commented on the company. Capital One Financial raised Comstock Resources from an equal weight rating to an overweight rating in a report on Monday, May 18th. BMO Capital Markets started coverage on Comstock Resources in a report on Wednesday, June 17th. They issued an outperform rating and a $8.00 price objective for the company. Piper Sandler started coverage on Comstock Resources in a report on Wednesday, July 8th. They issued a neutral rating and a $5.50 price objective for the company. Citigroup assumed coverage on Comstock Resources in a report on Tuesday, July 21st. They issued a buy rating and a $8.00 price objective for the company. Finally, Mizuho assumed coverage on Comstock Resources in a report on Wednesday, July 22nd. They set a buy rating and a $9.00 price target for the company. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $7.72.
NYSE CRK opened at $5.36 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.14. Comstock Resources has a twelve month low of $4.05 and a twelve month high of $10.70. The firm has a market capitalization of $1.02 billion, a PE ratio of 10.11 and a beta of 1.02. The stock’s 50 day moving average is $4.77 and its 200 day moving average is $5.71.
Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Wednesday, May 6th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.06. Comstock Resources had a return on equity of 14.63% and a net margin of 14.45%. The firm had revenue of $225.88 million during the quarter, compared to analysts’ expectations of $242.75 million. On average, research analysts anticipate that Comstock Resources will post 0.27 earnings per share for the current year.
In other Comstock Resources news, Director Jim L. Turner acquired 75,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was purchased at an average price of $4.73 per share, with a total value of $354,750.00. Following the completion of the purchase, the director now directly owns 164,470 shares in the company, valued at approximately $777,943.10. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Roland O. Burns acquired 25,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was acquired at an average cost of $4.74 per share, with a total value of $118,500.00. Following the purchase, the chief financial officer now owns 778,440 shares of the company’s stock, valued at $3,689,805.60. The disclosure for this purchase can be found here. Insiders have acquired 140,000 shares of company stock valued at $663,250 in the last three months. 1.50% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC boosted its stake in shares of Comstock Resources by 85.6% in the first quarter. Nuveen Asset Management LLC now owns 69,760 shares of the oil and gas producer’s stock worth $376,000 after acquiring an additional 32,177 shares during the period. Man Group plc bought a new position in shares of Comstock Resources in the fourth quarter worth about $137,000. Alliancebernstein L.P. boosted its stake in shares of Comstock Resources by 29.3% in the first quarter. Alliancebernstein L.P. now owns 40,600 shares of the oil and gas producer’s stock worth $219,000 after acquiring an additional 9,200 shares during the period. Guggenheim Capital LLC bought a new position in shares of Comstock Resources in the first quarter worth about $69,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Comstock Resources by 377.2% in the fourth quarter. Bank of New York Mellon Corp now owns 251,333 shares of the oil and gas producer’s stock worth $2,069,000 after acquiring an additional 198,669 shares during the period. 3.21% of the stock is owned by hedge funds and other institutional investors.
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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