Comstock Resources Inc. (NYSE:CRK) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 1,451,416 shares, an increase of 57.4% from the August 31st total of 922,218 shares. Approximately 16.3% of the company’s stock are sold short. Based on an average trading volume of 951,858 shares, the days-to-cover ratio is currently 1.5 days.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC bought a new position in shares of Comstock Resources during the first quarter worth approximately $121,000. Cubist Systematic Strategies LLC boosted its position 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 in the last quarter. Schwab Charles Investment Management Inc. bought a new position in shares of Comstock Resources during the second quarter worth approximately $229,000. Mariner Investment Group LLC bought a new position in shares of Comstock Resources during the second quarter worth approximately $237,000. Finally, Spark Investment Management LLC bought a new position in shares of Comstock Resources during the second quarter worth approximately $313,000.
A number of research analysts have recently commented on CRK shares. Zacks Investment Research downgraded Comstock Resources from a “buy” rating to a “hold” rating in a report on Monday, August 8th. Imperial Capital increased their price objective on Comstock Resources from $3.75 to $8.50 and gave the company an “in-line” rating in a report on Friday. Stifel Nicolaus reiterated a “hold” rating on shares of Comstock Resources in a report on Wednesday, August 31st. Finally, Robert W. Baird increased their price objective on Comstock Resources from $6.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, September 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $10.54.
Shares of Comstock Resources (NYSE:CRK) opened at 7.55 on Friday. The firm’s market capitalization is $94.41 million. The firm’s 50-day moving average price is $7.11 and its 200-day moving average price is $4.78. Comstock Resources has a 52-week low of $2.64 and a 52-week high of $15.00.
Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Monday, August 1st. The company reported ($4.05) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.66) by $3.39. The company had revenue of $40.72 million for the quarter, compared to analyst estimates of $39.16 million. Comstock Resources had a negative return on equity of 202.37% and a negative net margin of 475.42%. The company’s revenue for the quarter was down 47.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.11) EPS. On average, equities analysts predict that Comstock Resources will post ($12.63) earnings per share for the current fiscal year.
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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