Glenorchy Capital Ltd Has $3.75 Million Holdings in Comstock Resources, Inc. (NYSE:CRK)

Glenorchy Capital Ltd lifted its holdings in Comstock Resources, Inc. (NYSE:CRK) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 205,976 shares of the oil and gas producer’s stock after purchasing an additional 8,263 shares during the quarter. Comstock Resources accounts for approximately 2.2% of Glenorchy Capital Ltd’s investment portfolio, making the stock its 15th biggest holding. Glenorchy Capital Ltd owned 0.07% of Comstock Resources worth $3,753,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. VSM Wealth Advisory LLC acquired a new position in shares of Comstock Resources during the 4th quarter worth about $27,000. Sterling Capital Management LLC raised its holdings in Comstock Resources by 804.6% during the fourth quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer’s stock worth $54,000 after acquiring an additional 2,631 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Comstock Resources by 225.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock valued at $64,000 after purchasing an additional 2,326 shares during the last quarter. Quarry LP bought a new position in Comstock Resources in the fourth quarter valued at approximately $70,000. Finally, KBC Group NV increased its position in shares of Comstock Resources by 46.8% during the 4th quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer’s stock worth $118,000 after purchasing an additional 2,066 shares during the last quarter. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Stock Performance

Shares of NYSE CRK opened at $23.33 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. The firm has a market cap of $6.83 billion, a price-to-earnings ratio of -30.70, a P/E/G ratio of 1.65 and a beta of 0.14. The stock’s fifty day moving average price is $19.33 and its two-hundred day moving average price is $17.67. Comstock Resources, Inc. has a one year low of $7.74 and a one year high of $23.38.

Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. The business had revenue of $512.85 million for the quarter, compared to the consensus estimate of $408.99 million. During the same period in the prior year, the company posted ($0.03) earnings per share. Comstock Resources’s revenue was up 52.7% compared to the same quarter last year. On average, equities analysts forecast that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Analyst Ratings Changes

CRK has been the subject of several recent analyst reports. UBS Group began coverage on Comstock Resources in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $19.00 price objective for the company. Morgan Stanley reissued a “cautious” rating and issued a $22.00 price objective (up previously from $21.00) on shares of Comstock Resources in a research report on Wednesday, March 26th. Piper Sandler upped their target price on shares of Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Wednesday, January 29th. Truist Financial lifted their price target on Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Finally, StockNews.com raised Comstock Resources to a “sell” rating in a research report on Thursday. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $14.23.

Comstock Resources Company Profile

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. Its assets are located in the Haynesville and Bossier shales located in North Louisiana and East Texas. The company was incorporated in 1919 and is headquartered in Frisco, Texas.