Corigliano Investment Advisers LLC decreased its position in shares of Comstock Resources, Inc. (NYSE:CRK – Free Report) by 83.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,400 shares of the oil and gas producer’s stock after selling 230,300 shares during the quarter. Corigliano Investment Advisers LLC’s holdings in Comstock Resources were worth $1,076,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Great Hill Capital LLC purchased a new stake in shares of Comstock Resources during the third quarter worth approximately $4,075,000. LSP Investment Advisors LLC lifted its holdings in Comstock Resources by 33.9% in the 3rd quarter. LSP Investment Advisors LLC now owns 378,900 shares of the oil and gas producer’s stock valued at $7,514,000 after purchasing an additional 95,900 shares in the last quarter. Aventail Capital Group LP boosted its stake in Comstock Resources by 149.9% during the 3rd quarter. Aventail Capital Group LP now owns 1,143,721 shares of the oil and gas producer’s stock worth $22,680,000 after purchasing an additional 686,002 shares during the last quarter. BW Gestao de Investimentos Ltda. acquired a new stake in Comstock Resources during the 3rd quarter worth $1,144,000. Finally, SG Americas Securities LLC grew its holdings in shares of Comstock Resources by 1,200.3% during the fourth quarter. SG Americas Securities LLC now owns 331,937 shares of the oil and gas producer’s stock worth $7,694,000 after buying an additional 306,410 shares in the last quarter. 36.13% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on CRK. Morgan Stanley decreased their price target on shares of Comstock Resources from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Friday, May 22nd. Mizuho cut their price objective on shares of Comstock Resources from $25.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. UBS Group reissued a “sell” rating and issued a $13.00 target price (down from $17.00) on shares of Comstock Resources in a research note on Monday, May 11th. Citigroup restated a “neutral” rating on shares of Comstock Resources in a research report on Wednesday, April 15th. Finally, Williams Trading set a $16.00 price target on Comstock Resources in a report on Thursday, May 14th. Six investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Comstock Resources presently has an average rating of “Reduce” and a consensus price target of $17.00.
Comstock Resources Stock Performance
NYSE:CRK opened at $13.12 on Thursday. The company’s 50-day moving average is $15.16 and its two-hundred day moving average is $19.48. Comstock Resources, Inc. has a 1-year low of $12.44 and a 1-year high of $31.17. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.41 and a quick ratio of 0.41. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 5.99 and a beta of 0.13.
Comstock Resources (NYSE:CRK – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $0.15 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.08). Comstock Resources had a net margin of 27.18% and a return on equity of 5.54%. The firm had revenue of $587.35 million for the quarter, compared to analysts’ expectations of $554.02 million. During the same period in the previous year, the firm posted $0.18 EPS. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. Analysts forecast that Comstock Resources, Inc. will post 0.56 EPS for the current year.
Comstock Resources Company Profile
Comstock Resources, Inc is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties in the United States. The company focuses on generating long-term value through the efficient development of unconventional resource plays and conventional prospects. Its activities encompass drilling, completion and production operations, as well as the marketing of natural gas, natural gas liquids and crude oil.
Comstock holds a core position in the Haynesville Shale of Northwest Louisiana, one of the most active natural gas plays in North America, and has built a complementary portfolio in the Delaware Basin of West Texas.
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