Comstock Resources (NYSE:CRK) Sets New 12-Month High at $9.51

Comstock Resources, Inc. (NYSE:CRK)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $9.51 and last traded at $9.51, with a volume of 276 shares changing hands. The stock had previously closed at $9.08.

Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of Comstock Resources from a “hold” rating to a “buy” rating and set a $6.75 price objective for the company in a research report on Tuesday, August 31st. Mizuho decreased their price objective on shares of Comstock Resources from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, August 13th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.67.

The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 3.01. The company has a market capitalization of $2.21 billion, a PE ratio of -5.44 and a beta of 1.72. The business’s 50-day simple moving average is $6.61 and its 200-day simple moving average is $6.09.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Tuesday, August 3rd. The oil and gas producer reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. Comstock Resources had a negative net margin of 31.52% and a positive return on equity of 13.82%. The company had revenue of $343.69 million during the quarter, compared to analyst estimates of $319.05 million. Sell-side analysts forecast that Comstock Resources, Inc. will post 1.1 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the company. Axiom Investment Management LLC purchased a new position in shares of Comstock Resources during the 1st quarter valued at approximately $57,000. XTX Topco Ltd purchased a new position in shares of Comstock Resources during the 1st quarter valued at approximately $69,000. American Century Companies Inc. grew its stake in Comstock Resources by 36.0% in the 2nd quarter. American Century Companies Inc. now owns 161,465 shares of the oil and gas producer’s stock valued at $1,077,000 after acquiring an additional 42,765 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Comstock Resources in the 1st quarter valued at $1,516,000. Finally, Dimensional Fund Advisors LP grew its stake in Comstock Resources by 118.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 404,221 shares of the oil and gas producer’s stock valued at $1,766,000 after acquiring an additional 218,771 shares during the period. 28.90% of the stock is owned by hedge funds and other institutional investors.

Comstock Resources Company Profile (NYSE:CRK)

Comstock Resources, Inc engages in the acquisition, development, and exploration of oil and natural gas. The firm operations concentrated in the Haynesville shale, a premier natural gas basin located in East Texas. The company was founded in 1919 and is headquartered in Frisco, TX.

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