Fox Run Management L.L.C. Makes New $758,000 Investment in Comstock Resources, Inc. $CRK

Fox Run Management L.L.C. purchased a new position in shares of Comstock Resources, Inc. (NYSE:CRK) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 27,386 shares of the oil and gas producer’s stock, valued at approximately $758,000.

A number of other hedge funds also recently modified their holdings of CRK. Legacy Investment Solutions LLC bought a new position in shares of Comstock Resources during the 2nd quarter worth $29,000. Nisa Investment Advisors LLC lifted its stake in Comstock Resources by 129.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer’s stock worth $42,000 after purchasing an additional 1,170 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in Comstock Resources during the second quarter valued at $34,000. Bleakley Financial Group LLC boosted its position in shares of Comstock Resources by 6.1% during the 1st quarter. Bleakley Financial Group LLC now owns 33,893 shares of the oil and gas producer’s stock valued at $689,000 after acquiring an additional 1,938 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Comstock Resources during the second quarter valued at approximately $69,000. Institutional investors own 36.13% of the company’s stock.

Comstock Resources Trading Up 5.7%

NYSE:CRK opened at $23.04 on Monday. The stock has a fifty day moving average price of $18.42 and a 200 day moving average price of $20.62. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.24. Comstock Resources, Inc. has a 12-month low of $12.96 and a 12-month high of $31.17. The firm has a market cap of $6.75 billion, a PE ratio of -95.98 and a beta of 0.24.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings results on Monday, November 3rd. The oil and gas producer reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The company had revenue of $449.85 million during the quarter, compared to the consensus estimate of $433.54 million. Comstock Resources had a positive return on equity of 3.65% and a negative net margin of 5.05%.Comstock Resources’s revenue for the quarter was up 47.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.17) EPS. Sell-side analysts anticipate that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CRK has been the topic of a number of recent research reports. Roth Capital cut shares of Comstock Resources from a “neutral” rating to a “sell” rating and reduced their price target for the company from $18.00 to $12.00 in a research report on Monday, August 18th. Piper Sandler set a $9.00 price target on Comstock Resources and gave the company an “underweight” rating in a research report on Tuesday, October 21st. Zacks Research lowered shares of Comstock Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Mizuho set a $21.00 price objective on Comstock Resources and gave the company a “neutral” rating in a research report on Thursday, October 16th. Finally, UBS Group boosted their target price on Comstock Resources from $14.00 to $16.00 and gave the stock a “sell” rating in a report on Thursday. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $19.70.

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.