Numerai GP LLC Makes New Investment in Comstock Resources, Inc. (NYSE:CRK)

Numerai GP LLC bought a new position in Comstock Resources, Inc. (NYSE:CRK) in the 4th quarter, Holdings Channel.com reports. The fund bought 86,829 shares of the oil and gas producer’s stock, valued at approximately $1,582,000.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CRK shares. Piper Sandler upped their price target on Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Wednesday, January 29th. Morgan Stanley reissued a “cautious” rating and set a $22.00 target price (up from $21.00) on shares of Comstock Resources in a report on Wednesday, March 26th. Mizuho raised their price target on shares of Comstock Resources from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday. StockNews.com raised shares of Comstock Resources to a “sell” rating in a research report on Thursday, May 8th. Finally, UBS Group initiated coverage on shares of Comstock Resources in a research note on Tuesday, April 22nd. They set a “neutral” rating and a $19.00 price objective on the stock. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Comstock Resources currently has a consensus rating of “Hold” and an average price target of $14.77.

Comstock Resources Trading Up 3.6%

Comstock Resources stock opened at $23.65 on Wednesday. Comstock Resources, Inc. has a 52-week low of $7.74 and a 52-week high of $24.13. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $6.93 billion, a price-to-earnings ratio of -31.12, a PEG ratio of 1.65 and a beta of 0.14. The firm has a 50-day moving average price of $19.54 and a two-hundred day moving average price of $17.87.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The business had revenue of $512.85 million during the quarter, compared to the consensus estimate of $408.99 million. During the same period in the previous year, the firm posted ($0.03) earnings per share. The business’s revenue was up 52.7% on a year-over-year basis. Sell-side analysts expect that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

Comstock Resources 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.