Comstock Resources, Inc. $CRK Stock Position Raised by SG Americas Securities LLC

SG Americas Securities LLC increased its position in Comstock Resources, Inc. (NYSE:CRK) by 249.3% in the second quarter, HoldingsChannel reports. The firm owned 118,391 shares of the oil and gas producer’s stock after acquiring an additional 84,500 shares during the period. SG Americas Securities LLC’s holdings in Comstock Resources were worth $3,276,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in shares of Comstock Resources in the second quarter valued at $29,000. Atlantic Union Bankshares Corp acquired a new position in Comstock Resources during the second quarter valued at $34,000. Caitong International Asset Management Co. Ltd purchased a new stake in Comstock Resources in the 2nd quarter worth about $69,000. State of Wyoming purchased a new stake in Comstock Resources in the 1st quarter worth about $126,000. Finally, Wedbush Securities Inc. acquired a new stake in Comstock Resources during the 1st quarter worth about $219,000. 36.13% of the stock is owned by institutional investors and hedge funds.

Comstock Resources Price Performance

NYSE CRK opened at $24.95 on Wednesday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $7.31 billion, a PE ratio of -103.97 and a beta of 0.24. Comstock Resources, Inc. has a 12-month low of $13.55 and a 12-month high of $31.17. The company has a 50 day moving average price of $19.68 and a two-hundred day moving average price of $20.92.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data 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. Comstock Resources had a negative net margin of 5.05% and a positive return on equity of 3.65%. The firm had revenue of $449.85 million during the quarter, compared to analysts’ expectations of $433.54 million. During the same period in the prior year, the company posted ($0.17) earnings per share. Comstock Resources’s revenue for the quarter was up 47.8% on a year-over-year basis. As a group, equities analysts predict that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Comstock Resources in a report on Thursday, November 13th. Piper Sandler dropped their price objective on shares of Comstock Resources from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Tuesday. Mizuho set a $21.00 target price on shares of Comstock Resources and gave the company a “neutral” rating in a research note on Thursday, October 16th. Morgan Stanley dropped their price target on shares of Comstock Resources from $21.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Monday, August 4th. Finally, Zacks Research upgraded Comstock Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $19.60.

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.