Comstock Resources, Inc. (CRK) PT Lowered to $6.00

Comstock Resources, Inc. (NYSE:CRK) had its price objective cut by investment analysts at Barclays PLC from $7.00 to $6.00 in a research report issued to clients and investors on Wednesday. The brokerage presently has an “equal weight” rating on the oil and gas producer’s stock. Barclays PLC’s price objective points to a potential upside of 27.12% from the stock’s previous close.

A number of other research analysts also recently issued reports on CRK. Zacks Investment Research downgraded shares of Comstock Resources from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Capital One Financial Corporation reiterated an “underweight” rating on shares of Comstock Resources in a research note on Monday, August 7th. Stifel Nicolaus set a $12.00 price target on shares of Comstock Resources and gave the stock a “buy” rating in a research note on Monday, August 14th. Finally, ValuEngine downgraded shares of Comstock Resources from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Comstock Resources presently has an average rating of “Hold” and a consensus price target of $12.40.

Comstock Resources (NYSE CRK) opened at 4.72 on Wednesday. The company’s market cap is $73.06 million. Comstock Resources has a 1-year low of $4.23 and a 1-year high of $13.42. The company’s 50 day moving average is $5.90 and its 200 day moving average is $7.15.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Monday, August 7th. The oil and gas producer reported ($1.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.67) by $0.60. The firm had revenue of $61.47 million during the quarter, compared to analysts’ expectations of $63.93 million. During the same quarter in the prior year, the firm earned $0.41 EPS. Equities research analysts forecast that Comstock Resources will post ($4.88) EPS for the current year.

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Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in Comstock Resources during the first quarter worth approximately $176,000. Northern Trust Corp raised its holdings in Comstock Resources by 3.4% during the second quarter. Northern Trust Corp now owns 31,745 shares of the oil and gas producer’s stock worth $225,000 after purchasing an additional 1,055 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Comstock Resources by 78.9% during the first quarter. Bank of New York Mellon Corp now owns 44,490 shares of the oil and gas producer’s stock worth $410,000 after purchasing an additional 19,627 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Comstock Resources by 7.5% during the second quarter. Russell Investments Group Ltd. now owns 48,105 shares of the oil and gas producer’s stock worth $340,000 after purchasing an additional 3,345 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new stake in Comstock Resources during the first quarter worth approximately $998,000. 53.59% of the stock is currently owned by 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.

Analyst Recommendations for Comstock Resources (NYSE:CRK)

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