Comstock Resources (CRK) Bonds Drop 2% During Trading – Fairfield Current
An issue of Comstock Resources Inc (NYSE:CRK) debt fell 2% as a percentage of its face value during trading on Thursday. The high-yield debt issue has a 9.75% coupon and is set to mature on August 15, 2026. The bonds in the issue are now trading at $91.50 and were trading at $92.50 last week. Price changes in a company’s debt in credit markets often anticipate parallel changes in its stock price.
Separately, Zacks Investment Research raised shares of Comstock Resources from a “hold” rating to a “buy” rating and set a $6.75 price objective on the stock in a research note on Thursday, January 31st. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $9.18.
NYSE:CRK traded down $0.17 during mid-day trading on Friday, reaching $5.69. The stock had a trading volume of 398,887 shares, compared to its average volume of 232,004. The stock has a market capitalization of $602.40 million, a price-to-earnings ratio of -1.46 and a beta of 0.99. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.73 and a quick ratio of 0.73. Comstock Resources Inc has a 12 month low of $4.21 and a 12 month high of $12.32.
A number of large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new stake in shares of Comstock Resources during the third quarter worth $503,000. USA Financial Portformulas Corp bought a new stake in shares of Comstock Resources during the third quarter worth $625,000. First Dallas Securities Inc. grew its stake in shares of Comstock Resources by 17.6% during the third quarter. First Dallas Securities Inc. now owns 47,056 shares of the oil and gas producer’s stock worth $395,000 after buying an additional 7,050 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in shares of Comstock Resources during the third quarter worth $298,000. Finally, GSA Capital Partners LLP grew its stake in shares of Comstock Resources by 1,148.8% during the third quarter. GSA Capital Partners LLP now owns 218,388 shares of the oil and gas producer’s stock worth $1,830,000 after buying an additional 200,900 shares during the last quarter. 5.92% of the stock is currently owned by institutional investors and hedge funds.
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Comstock Resources Company Profile (NYSE:CRK)
Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and gas resources primarily in Texas and Louisiana. The company is headquartered in Frisco, Texas.
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