Comstock Resources Inc (NYSE:CRK) has received a consensus recommendation of “Hold” from the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $6.78.
A number of analysts recently commented on CRK shares. SunTrust Banks started coverage on shares of Comstock Resources in a report on Wednesday, December 18th. They set a “buy” rating and a $9.00 price objective on the stock. Stifel Nicolaus decreased their price objective on shares of Comstock Resources from $5.40 to $4.60 and set a “hold” rating on the stock in a report on Monday, January 27th. ValuEngine raised shares of Comstock Resources from a “strong sell” rating to a “sell” rating in a report on Wednesday, March 18th. Finally, MKM Partners raised shares of Comstock Resources from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Friday, March 20th.
Several hedge funds and other institutional investors have recently made changes to their positions in CRK. Bank of New York Mellon Corp lifted its holdings in shares of Comstock Resources by 377.2% in the fourth quarter. Bank of New York Mellon Corp now owns 251,333 shares of the oil and gas producer’s stock valued at $2,069,000 after purchasing an additional 198,669 shares in the last quarter. Advisor Group Inc. purchased a new stake in shares of Comstock Resources in the fourth quarter valued at about $1,043,000. Prime Capital Investment Advisors LLC lifted its holdings in shares of Comstock Resources by 85.4% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 99,420 shares of the oil and gas producer’s stock valued at $818,000 after purchasing an additional 45,790 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Comstock Resources by 235.7% in the third quarter. Millennium Management LLC now owns 62,529 shares of the oil and gas producer’s stock valued at $487,000 after purchasing an additional 43,902 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Comstock Resources by 30.1% in the first quarter. First Trust Advisors LP now owns 177,840 shares of the oil and gas producer’s stock valued at $1,232,000 after purchasing an additional 41,094 shares in the last quarter. 2.93% of the stock is currently owned by institutional investors.
Comstock Resources (NYSE:CRK) last issued its earnings results on Wednesday, February 26th. The oil and gas producer reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.04. The business had revenue of $289.25 million for the quarter, compared to the consensus estimate of $298.40 million. Comstock Resources had a net margin of 12.60% and a return on equity of 15.74%. On average, research analysts forecast that Comstock Resources will post 0.45 EPS for the current year.
About Comstock Resources
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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