Comstock Resources Inc. (NYSE:CRK) had its target price reduced by Robert W. Baird from $10.00 to $6.00 in a research report issued to clients and investors on Thursday. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s target price would suggest a potential downside of 22.78% from the stock’s current price.
Several other equities analysts have also weighed in on the company. Stifel Nicolaus reissued a “hold” rating on shares of Comstock Resources in a report on Wednesday, August 31st. Zacks Investment Research lowered Comstock Resources from a “buy” rating to a “hold” rating in a report on Monday, August 8th. One equities research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the stock. Comstock Resources has an average rating of “Hold” and an average price target of $8.50.
Shares of Comstock Resources (NYSE:CRK) traded up 2.32% during midday trading on Thursday, reaching $7.95. The company had a trading volume of 236,269 shares. The company has a 50 day moving average of $5.58 and a 200 day moving average of $4.42. Comstock Resources has a one year low of $2.64 and a one year high of $16.90. The company’s market capitalization is $99.41 million.
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Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Monday, August 1st. The company reported ($4.05) earnings per share for the quarter, missing the consensus estimate of ($0.66) by $3.39. Comstock Resources had a negative net margin of 475.42% and a negative return on equity of 202.37%. The firm had revenue of $40.72 million for the quarter, compared to the consensus estimate of $39.16 million. During the same period last year, the company posted ($1.11) earnings per share. Comstock Resources’s revenue for the quarter was down 47.3% on a year-over-year basis. Analysts predict that Comstock Resources will post ($12.97) EPS for the current fiscal year.
Several large investors have recently modified their holdings of CRK. Schwab Charles Investment Management Inc. acquired a new stake in shares of Comstock Resources during the second quarter worth about $229,000. Cubist Systematic Strategies LLC increased its stake in shares of Comstock Resources by 16.1% in the second quarter. Cubist Systematic Strategies LLC now owns 158,435 shares of the company’s stock worth $133,000 after buying an additional 21,992 shares during the period. Bridgeway Capital Management Inc. increased its stake in shares of Comstock Resources by 19.6% in the second quarter. Bridgeway Capital Management Inc. now owns 842,200 shares of the company’s stock worth $708,000 after buying an additional 137,825 shares during the period. Spark Investment Management LLC acquired a new stake in shares of Comstock Resources during the second quarter worth about $313,000. Finally, Vanguard Group Inc. increased its stake in shares of Comstock Resources by 8.3% in the second quarter. Vanguard Group Inc. now owns 1,493,844 shares of the company’s stock worth $1,255,000 after buying an additional 114,614 shares during the period.
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.
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