Comstock Resources Inc. (CRK) PT Raised to $8.50 at Imperial Capital
Comstock Resources Inc. (NYSE:CRK) had its target price increased by research analysts at Imperial Capital from $3.75 to $8.50 in a research report issued to clients and investors on Friday, StockTargetPrices.com reports. The firm presently has an “in-line” rating on the stock. Imperial Capital’s target price suggests a potential upside of 10.39% from the stock’s previous close.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Comstock Resources from a “buy” rating to a “hold” rating in a report on Monday, August 8th. Stifel Nicolaus reiterated a “hold” rating on shares of Comstock Resources in a research note on Wednesday, August 31st. Finally, Robert W. Baird boosted their target price on shares of Comstock Resources from $6.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, September 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $10.54.
Comstock Resources (NYSE:CRK) opened at 7.70 on Friday. Comstock Resources has a 52 week low of $2.64 and a 52 week high of $16.40. The company’s market capitalization is $96.28 million. The company has a 50-day moving average of $7.08 and a 200-day moving average of $4.76.
Comstock Resources (NYSE:CRK) last released its quarterly earnings results 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 return on equity of 202.37% and a negative net margin of 475.42%. The firm had revenue of $40.72 million for the quarter, compared to analysts’ expectations of $39.16 million. During the same quarter last year, the firm posted ($1.11) earnings per share. The firm’s revenue for the quarter was down 47.3% compared to the same quarter last year. On average, equities research analysts anticipate that Comstock Resources will post ($12.63) EPS for the current year.
Hedge funds have recently made changes to their positions in the stock. Oasis Management Co Ltd. acquired a new stake in shares of Comstock Resources during the first quarter worth approximately $1,990,000. Phoenix Investment Adviser LLC acquired a new stake in shares of Comstock Resources during the second quarter worth approximately $1,603,000. California Public Employees Retirement System boosted its stake in shares of Comstock Resources by 10.4% in the second quarter. California Public Employees Retirement System now owns 1,641,256 shares of the company’s stock worth $1,379,000 after buying an additional 154,700 shares during the last quarter. Vanguard Group Inc. boosted 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 last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Comstock Resources by 32.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,263,502 shares of the company’s stock worth $967,000 after buying an additional 311,590 shares during the last quarter.
About Comstock Resources
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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