Comstock Resources (CRK) Stock Price Up 3.3%

Comstock Resources Inc (NYSE:CRK) rose 3.3% on Friday . The stock traded as high as $9.09 and last traded at $8.85. Approximately 25,641 shares were traded during trading, a decline of 96% from the average daily volume of 705,691 shares. The stock had previously closed at $8.57.

CRK has been the topic of several analyst reports. LADENBURG THALM/SH SH raised Comstock Resources from a “neutral” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Thursday. Zacks Investment Research raised Comstock Resources from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Tuesday, June 12th. Capital One Financial raised Comstock Resources from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 22nd. ValuEngine raised Comstock Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, May 29th. Finally, Stifel Nicolaus initiated coverage on Comstock Resources in a research note on Tuesday, May 22nd. They set a “hold” rating and a $9.80 target price on the stock. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $10.16.

The company has a debt-to-equity ratio of -2.61, a current ratio of 1.07 and a quick ratio of 1.24.

Comstock Resources (NYSE:CRK) last released its earnings results on Wednesday, August 8th. The oil and gas producer reported ($0.78) EPS for the quarter, meeting analysts’ consensus estimates of ($0.78). The business had revenue of $61.45 million for the quarter, compared to the consensus estimate of $62.35 million. equities analysts expect that Comstock Resources Inc will post 0.32 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in shares of Comstock Resources in the first quarter valued at approximately $104,000. Engineers Gate Manager LP purchased a new stake in shares of Comstock Resources in the second quarter valued at approximately $168,000. GSA Capital Partners LLP purchased a new stake in shares of Comstock Resources in the second quarter valued at approximately $184,000. A.R.T. Advisors LLC purchased a new stake in shares of Comstock Resources in the first quarter valued at approximately $230,000. Finally, Trexquant Investment LP purchased a new stake in shares of Comstock Resources in the first quarter valued at approximately $235,000. 42.41% of the stock is currently owned by hedge funds and other institutional investors.

About Comstock Resources

Comstock Resources, Inc, an independent energy company, acquires, develops, explores, and produces oil and natural gas properties in the United States. Its oil and gas operations are primarily located in East Texas/North Louisiana and South Texas; and New Mexico and the Mid-Continent region. The company owns interests in 1,309 producing oil and natural gas wells.

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