Comstock Resources Inc. (NYSE:CRK) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 1,451,416 shares, a growth 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 daily volume of 951,858 shares, the days-to-cover ratio is presently 1.5 days.
A number of large investors have recently modified their holdings of CRK. Oasis Management Co Ltd. acquired a new stake in shares of Comstock Resources during the first quarter worth $1,990,000. Phoenix Investment Adviser LLC acquired a new stake in shares of Comstock Resources during the second quarter worth $1,603,000. California Public Employees Retirement System increased 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. increased 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. increased 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.
Shares of Comstock Resources (NYSE:CRK) opened at 7.62 on Thursday. The firm’s market cap is $95.28 million. Comstock Resources has a 12-month low of $2.64 and a 12-month high of $16.60. The stock has a 50 day moving average price of $7.03 and a 200 day moving average price of $4.74.
Comstock Resources (NYSE:CRK) last issued its earnings results on Monday, August 1st. The company reported ($4.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.66) by $3.39. The business earned $40.72 million during the quarter, compared to the consensus estimate 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 previous year, the firm posted ($1.11) earnings per share. On average, equities analysts expect that Comstock Resources will post ($12.63) earnings per share for the current year.
CRK has been the subject of a number of recent research reports. Zacks Investment Research downgraded Comstock Resources from a “buy” rating to a “hold” rating in a research report on Monday, August 8th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Comstock Resources in a research report on Wednesday, August 31st. Finally, Robert W. Baird upped their price target on Comstock Resources from $6.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, September 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $9.75.
About Comstock Resources