Bayforest Capital Ltd Has $58,000 Holdings in Comstock Resources, Inc. $CRK

Bayforest Capital Ltd trimmed its position in shares of Comstock Resources, Inc. (NYSE:CRK) by 84.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,110 shares of the oil and gas producer’s stock after selling 11,194 shares during the quarter. Bayforest Capital Ltd’s holdings in Comstock Resources were worth $58,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CRK. Invesco Ltd. increased its stake in Comstock Resources by 79.9% during the 1st quarter. Invesco Ltd. now owns 1,155,680 shares of the oil and gas producer’s stock valued at $23,507,000 after purchasing an additional 513,190 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Comstock Resources by 67.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,086,868 shares of the oil and gas producer’s stock worth $22,107,000 after acquiring an additional 437,476 shares in the last quarter. Woodline Partners LP acquired a new stake in shares of Comstock Resources in the 1st quarter worth about $8,719,000. Nuveen LLC bought a new position in Comstock Resources in the 1st quarter valued at about $5,127,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Comstock Resources during the 1st quarter valued at about $4,043,000. 36.13% of the stock is currently owned by institutional investors.

Comstock Resources Trading Down 4.2%

Shares of Comstock Resources stock opened at $16.99 on Friday. The stock has a market capitalization of $4.98 billion, a P/E ratio of -70.77 and a beta of 0.19. Comstock Resources, Inc. has a 52-week low of $11.05 and a 52-week high of $31.17. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.36 and a current ratio of 0.36. The stock’s 50-day simple moving average is $17.43 and its 200 day simple moving average is $20.58.

Comstock Resources (NYSE:CRK) last issued its earnings results on Wednesday, July 30th. The oil and gas producer reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. Comstock Resources had a negative net margin of 5.05% and a positive return on equity of 3.65%. The firm had revenue of $470.26 million during the quarter, compared to analyst estimates of $431.82 million. During the same quarter last year, the business earned ($0.20) earnings per share. The company’s quarterly revenue was up 90.5% on a year-over-year basis. As a group, research analysts anticipate that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Roth Capital downgraded Comstock Resources from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $18.00 to $12.00 in a research note on Monday, August 18th. UBS Group lowered their price target on Comstock Resources from $18.00 to $14.00 and set a “sell” rating for the company in a research report on Wednesday, August 20th. Piper Sandler cut their price objective on shares of Comstock Resources from $12.00 to $10.00 and set an “underweight” rating on the stock in a report on Monday, August 4th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Comstock Resources in a research note on Wednesday, October 8th. Finally, Mizuho set a $21.00 target price on shares of Comstock Resources and gave the company a “neutral” rating in a report on Thursday. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $19.60.

About Comstock Resources

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.