Comstock Resources, Inc. (NYSE:CRK) has been given an average recommendation of “Hold” by the eight analysts that are covering the stock, Marketbeat reports. 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 average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $12.40.
Several research analysts recently weighed in on CRK shares. Stifel Nicolaus set a $12.00 target price on Comstock Resources and gave the stock a “buy” rating in a research note on Monday, August 14th. Barclays PLC dropped their target price on Comstock Resources from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Wednesday. ValuEngine downgraded Comstock Resources from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Zacks Investment Research downgraded Comstock Resources from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Capital One Financial Corporation restated an “underweight” rating on shares of Comstock Resources in a research note on Monday, August 7th.
A number of institutional investors have recently bought and sold shares of CRK. Vanguard Group Inc. grew its stake in Comstock Resources by 40.4% during the 2nd quarter. Vanguard Group Inc. now owns 628,355 shares of the oil and gas producer’s stock valued at $4,443,000 after purchasing an additional 180,935 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in Comstock Resources during the 1st quarter valued at about $1,536,000. First Washington CORP purchased a new stake in Comstock Resources during the 2nd quarter valued at about $795,000. Paloma Partners Management Co purchased a new stake in Comstock Resources during the 1st quarter valued at about $998,000. Finally, Hodges Capital Management Inc. grew its stake in Comstock Resources by 5.9% during the 2nd quarter. Hodges Capital Management Inc. now owns 1,583,867 shares of the oil and gas producer’s stock valued at $11,198,000 after purchasing an additional 87,805 shares during the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.
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Comstock Resources (NYSE:CRK) last announced its earnings results on Monday, August 7th. The oil and gas producer reported ($1.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.67) by $0.60. The business had revenue of $61.47 million for the quarter, compared to analysts’ expectations of $63.93 million. During the same quarter last year, the firm earned $0.41 earnings per share.
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.
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