Comstock Resources, Inc. (NYSE:CRK – Get Free Report)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $14.08 and last traded at $14.20, with a volume of 628246 shares changing hands. The stock had previously closed at $14.34.
Analyst Ratings Changes
CRK has been the topic of several recent analyst reports. Williams Trading set a $16.00 price objective on shares of Comstock Resources in a research note on Thursday, May 14th. Morgan Stanley set a $19.00 target price on Comstock Resources in a research report on Friday, February 13th. Wall Street Zen downgraded Comstock Resources from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 9th. UBS Group reiterated a “sell” rating and set a $13.00 target price (down from $17.00) on shares of Comstock Resources in a research report on Monday, May 11th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Comstock Resources in a research note on Wednesday, April 15th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Comstock Resources currently has a consensus rating of “Reduce” and an average target price of $19.89.
View Our Latest Stock Analysis on CRK
Comstock Resources Trading Down 1.1%
Comstock Resources (NYSE:CRK – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.08). Comstock Resources had a return on equity of 5.54% and a net margin of 27.18%.The firm had revenue of $587.35 million for the quarter, compared to analysts’ expectations of $554.02 million. During the same period last year, the firm earned $0.18 EPS. The business’s quarterly revenue was up 14.5% on a year-over-year basis. Equities research analysts expect that Comstock Resources, Inc. will post 0.75 EPS for the current year.
Insider Transactions at Comstock Resources
In other Comstock Resources news, VP Patrick Mcgough sold 48,915 shares of Comstock Resources stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $21.20, for a total transaction of $1,036,998.00. Following the sale, the vice president directly owned 187,516 shares in the company, valued at $3,975,339.20. The trade was a 20.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Comstock Resources
Several hedge funds and other institutional investors have recently bought and sold shares of CRK. Rothschild Investment LLC increased its position in shares of Comstock Resources by 740.4% in the 4th quarter. Rothschild Investment LLC now owns 1,143 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 1,007 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Comstock Resources in the 3rd quarter worth about $27,000. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Comstock Resources in the 1st quarter worth about $29,000. Kemnay Advisory Services Inc. bought a new stake in shares of Comstock Resources in the 4th quarter worth about $29,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of Comstock Resources by 671.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,581 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 1,376 shares during the last quarter. 36.13% of the stock is currently owned by hedge funds and other institutional investors.
About Comstock Resources
Comstock Resources, Inc is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties in the United States. The company focuses on generating long-term value through the efficient development of unconventional resource plays and conventional prospects. Its activities encompass drilling, completion and production operations, as well as the marketing of natural gas, natural gas liquids and crude oil.
Comstock holds a core position in the Haynesville Shale of Northwest Louisiana, one of the most active natural gas plays in North America, and has built a complementary portfolio in the Delaware Basin of West Texas.
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