US Capital Advisors upgraded shares of Comstock Resources (NYSE:CRK) from a hold rating to an overweight rating in a report published on Wednesday morning, Zacks.com reports. US Capital Advisors also issued estimates for Comstock Resources’ Q2 2020 earnings at $0.01 EPS, Q2 2021 earnings at $0.15 EPS, Q3 2021 earnings at $0.16 EPS, Q4 2021 earnings at $0.18 EPS, FY2021 earnings at $0.70 EPS, Q1 2022 earnings at $0.23 EPS, Q2 2022 earnings at $0.11 EPS and FY2022 earnings at $0.63 EPS.
Several other brokerages have also recently commented on CRK. Stifel Nicolaus raised shares of Comstock Resources from a hold rating to a buy rating and boosted their price objective for the company from $6.00 to $8.00 in a research note on Tuesday, March 31st. Mizuho began coverage on shares of Comstock Resources in a research note on Wednesday. They set a buy rating for the company. Johnson Rice raised shares of Comstock Resources from an accumulate rating to a buy rating in a research note on Monday, May 18th. Citigroup began coverage on shares of Comstock Resources in a research note on Tuesday. They set a buy rating and a $8.00 price objective for the company. Finally, BMO Capital Markets began coverage on shares of Comstock Resources in a research note on Wednesday, June 17th. They set an outperform rating and a $8.00 price objective for the company. Two analysts have rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $7.56.
NYSE CRK opened at $5.18 on Wednesday. The company’s 50 day moving average is $4.80 and its 200-day moving average is $5.82. Comstock Resources has a 12-month low of $4.05 and a 12-month high of $10.70. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.14. The firm has a market cap of $971.47 million, a P/E ratio of 9.77 and a beta of 1.02.
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 (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.06. Comstock Resources had a net margin of 14.45% and a return on equity of 14.63%. The company had revenue of $225.88 million for the quarter, compared to analyst estimates of $242.75 million. Equities analysts expect that Comstock Resources will post 0.3 EPS for the current year.
In other Comstock Resources news, CFO Roland O. Burns acquired 25,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was purchased at an average cost of $4.74 per share, for a total transaction of $118,500.00. Following the acquisition, the chief financial officer now owns 778,440 shares in the company, valued at approximately $3,689,805.60. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO M Jay Allison acquired 40,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was acquired at an average price of $4.75 per share, with a total value of $190,000.00. Following the completion of the acquisition, the chief executive officer now owns 1,326,601 shares in the company, valued at approximately $6,301,354.75. The disclosure for this purchase can be found here. In the last three months, insiders acquired 140,000 shares of company stock valued at $663,250. Corporate insiders own 1.50% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Hodges Capital Management Inc. bought a new stake in shares of Comstock Resources in the 2nd quarter worth approximately $3,224,000. Envestnet Asset Management Inc. bought a new stake in shares of Comstock Resources in the 2nd quarter worth approximately $549,000. State Street Corp lifted its holdings in shares of Comstock Resources by 12.5% in the 1st quarter. State Street Corp now owns 254,016 shares of the oil and gas producer’s stock worth $1,369,000 after acquiring an additional 28,163 shares during the last quarter. Guggenheim Capital LLC bought a new stake in shares of Comstock Resources in the 1st quarter worth approximately $69,000. Finally, Advisor Group Holdings Inc. bought a new stake in shares of Comstock Resources in the 1st quarter worth approximately $683,000. Hedge funds and other institutional investors own 3.21% of the company’s stock.
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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