Graham Capital Management L.P. Invests $653,000 in Comstock Resources, Inc. (NYSE:CRK)

Graham Capital Management L.P. purchased a new position in Comstock Resources, Inc. (NYSE:CRK) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 35,818 shares of the oil and gas producer’s stock, valued at approximately $653,000.

Several other hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its position in shares of Comstock Resources by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 13,297,863 shares of the oil and gas producer’s stock worth $242,301,000 after purchasing an additional 227,638 shares during the period. Vanguard Group Inc. lifted its position in shares of Comstock Resources by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 9,222,982 shares of the oil and gas producer’s stock worth $168,043,000 after purchasing an additional 126,380 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Comstock Resources by 6.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,505,808 shares of the oil and gas producer’s stock worth $27,436,000 after purchasing an additional 91,988 shares during the period. Royce & Associates LP lifted its position in shares of Comstock Resources by 13.0% in the 4th quarter. Royce & Associates LP now owns 779,410 shares of the oil and gas producer’s stock worth $14,201,000 after purchasing an additional 89,630 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Comstock Resources in the 4th quarter worth approximately $11,891,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on CRK. Williams Trading set a $13.00 target price on shares of Comstock Resources in a research report on Wednesday, March 5th. Mizuho increased their target price on shares of Comstock Resources from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday. Morgan Stanley reissued a “cautious” rating and set a $22.00 target price (up previously from $21.00) on shares of Comstock Resources in a research report on Wednesday, March 26th. StockNews.com raised shares of Comstock Resources to a “sell” rating in a research report on Thursday, May 8th. Finally, Piper Sandler reissued an “underweight” rating on shares of Comstock Resources in a research report on Tuesday. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Comstock Resources presently has a consensus rating of “Hold” and a consensus price target of $14.77.

Comstock Resources Trading Up 0.3%

NYSE CRK opened at $23.71 on Thursday. The stock has a market cap of $6.95 billion, a P/E ratio of -31.20, a P/E/G ratio of 1.65 and a beta of 0.14. Comstock Resources, Inc. has a 12-month low of $7.74 and a 12-month high of $24.13. The company has a fifty day simple moving average of $19.65 and a two-hundred day simple moving average of $17.91. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27.

Comstock Resources (NYSE:CRK) last released its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The firm had revenue of $512.85 million for the quarter, compared to analyst estimates of $408.99 million. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. The business’s quarterly revenue was up 52.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.03) earnings per share. On average, analysts forecast 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.