First Trust Advisors LP boosted its holdings in shares of Comstock Resources, Inc. (NYSE:CRK – Free Report) by 143.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,079,633 shares of the oil and gas producer’s stock after acquiring an additional 635,781 shares during the quarter. First Trust Advisors LP’s holdings in Comstock Resources were worth $22,759,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC purchased a new stake in shares of Comstock Resources in the first quarter worth approximately $627,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Comstock Resources by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,236 shares of the oil and gas producer’s stock valued at $1,124,000 after purchasing an additional 2,697 shares in the last quarter. Goldman Sachs Group Inc. grew its position in 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 valued at $22,107,000 after purchasing an additional 437,476 shares in the last quarter. Intech Investment Management LLC grew its position in Comstock Resources by 26.0% during the first quarter. Intech Investment Management LLC now owns 65,289 shares of the oil and gas producer’s stock valued at $1,328,000 after purchasing an additional 13,485 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in Comstock Resources in the 2nd quarter valued at approximately $93,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.
Analyst Upgrades and Downgrades
CRK has been the subject of a number of research analyst reports. Zacks Research downgraded shares of Comstock Resources from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 16th. The Goldman Sachs Group lowered their price target on shares of Comstock Resources from $13.00 to $10.00 and set a “sell” rating on the stock in a report on Tuesday, June 30th. UBS Group reaffirmed a “sell” rating and issued a $13.00 price target (down from $17.00) on shares of Comstock Resources in a research note on Monday, May 11th. Williams Trading set a $16.00 price objective on Comstock Resources in a report on Thursday, May 14th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Comstock Resources in a report on Wednesday, May 20th. Six research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $15.22.
Comstock Resources Trading Up 2.1%
Shares of NYSE CRK opened at $12.64 on Thursday. The business has a 50 day simple moving average of $13.51 and a 200 day simple moving average of $17.39. Comstock Resources, Inc. has a 52 week low of $12.22 and a 52 week high of $28.10. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 5.77 and a beta of 0.10. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.41 and a current ratio of 0.41.
Comstock Resources (NYSE:CRK – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. The firm had revenue of $353.28 million for the quarter, compared to analyst estimates of $419.22 million. Comstock Resources had a net margin of 27.18% and a return on equity of 5.54%. The company’s revenue for the quarter was down 24.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.13 earnings per share. On average, research analysts predict that Comstock Resources, Inc. will post 0.5 earnings per share for the current fiscal 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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