Comstock Resources, Inc. (NYSE:CRK – Get Free Report) was down 4.2% on Wednesday . The company traded as low as $13.59 and last traded at $13.7050. 249,936 shares changed hands during trading, a decline of 90% from the average session volume of 2,513,051 shares. The stock had previously closed at $14.31.
Wall Street Analyst Weigh In
CRK has been the subject of several recent research reports. The Goldman Sachs Group lifted their target price on shares of Comstock Resources from $9.00 to $15.00 and gave the company a “sell” rating in a report on Wednesday, September 2nd. Morgan Stanley set a $15.00 price objective on Comstock Resources and gave the company an “equal weight” rating in a research report on Wednesday, August 19th. Truist Financial assumed coverage on Comstock Resources in a research note on Thursday. They set a “hold” rating and a $16.00 price objective for the company. Roth Capital reissued a “neutral” rating and issued a $14.00 target price on shares of Comstock Resources in a report on Tuesday, September 1st. Finally, UBS Group set a $14.00 target price on Comstock Resources and gave the stock a “sell” rating in a research note on Wednesday, September 9th. Nine investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Comstock Resources has a consensus rating of “Reduce” and an average target price of $15.91.
Get Our Latest Analysis on Comstock Resources
Comstock Resources Price Performance
Comstock Resources (NYSE:CRK – Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $353.28 million for the quarter, compared to analysts’ expectations of $419.22 million. Comstock Resources had a net margin of 23.31% and a return on equity of 4.12%. The business’s revenue for the quarter was down 24.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.13 earnings per share. On average, research analysts forecast that Comstock Resources, Inc. will post 0.35 earnings per share for the current fiscal year.
Institutional Trading of Comstock Resources
Institutional investors and hedge funds have recently modified their holdings of the business. Sequoia Financial Advisors LLC purchased a new stake in shares of Comstock Resources during the second quarter valued at $264,000. Integrated Wealth Concepts LLC purchased a new position in Comstock Resources in the 2nd quarter worth about $68,000. Wedmont Private Capital purchased a new position in Comstock Resources in the 2nd quarter worth about $264,000. Concurrent Investment Advisors LLC purchased a new position in Comstock Resources in the 2nd quarter worth about $150,000. Finally, AXQ Capital LP bought a new position in Comstock Resources during the 2nd quarter valued at about $159,000. Institutional investors own 36.13% of the company’s stock.
Comstock Resources Company Profile
Comstock Resources, Inc is an independent exploration and production company focused on finding, developing, acquiring and producing oil and natural gas in the United States. Its operations are primarily centered on natural gas and natural gas liquids, with production sold to commercial customers, utilities, marketers and other participants in energy markets.
The company’s principal assets are located in the Haynesville and Bossier shale plays in North Louisiana and East Texas, one of the largest natural gas-producing regions in the United States.
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