Comstock Resources (NYSE:CRK) Trading Up 7.7%

Comstock Resources Inc (NYSE:CRK)’s stock price was up 7.7% during trading on Friday . The stock traded as high as $5.61 and last traded at $5.57. Approximately 2,134,632 shares traded hands during mid-day trading, an increase of 540% from the average daily volume of 333,524 shares. The stock had previously closed at $5.17.

Several equities analysts have commented on CRK shares. B. Riley started coverage on shares of Comstock Resources in a report on Monday, May 20th. They issued a “neutral” rating and a $6.50 price objective on the stock. Capital One Financial downgraded shares of Comstock Resources from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, March 20th. ValuEngine downgraded shares of Comstock Resources from a “sell” rating to a “strong sell” rating in a research note on Monday, June 3rd. Finally, Zacks Investment Research upgraded shares of Comstock Resources from a “hold” rating to a “buy” rating and set a $7.50 price target on the stock in a research note on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $8.33.

The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 2.17. The firm’s 50 day moving average price is $5.12.

Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Thursday, May 9th. The oil and gas producer reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.05). Comstock Resources had a net margin of 6.04% and a return on equity of 14.66%. The business had revenue of $126.88 million during the quarter, compared to analyst estimates of $130.70 million. Equities research analysts forecast that Comstock Resources Inc will post 0.93 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in CRK. Citigroup Inc. purchased a new position in shares of Comstock Resources during the fourth quarter worth about $61,000. CWM LLC purchased a new stake in Comstock Resources in the first quarter worth $435,000. First Trust Advisors LP purchased a new stake in shares of Comstock Resources in the fourth quarter worth $619,000. Bank of New York Mellon Corp purchased a new stake in shares of Comstock Resources in the fourth quarter worth $6,349,000. Finally, King Luther Capital Management Corp purchased a new stake in shares of Comstock Resources in the fourth quarter worth $136,000. Hedge funds and other institutional investors own 6.87% of the company’s stock.

Comstock Resources Company Profile (NYSE:CRK)

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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