Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Comstock Resources, Inc. (NYSE:CRK – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 77,579 shares of the oil and gas producer’s stock, valued at approximately $1,157,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. K.J. Harrison & Partners Inc purchased a new stake in Comstock Resources in the 2nd quarter worth approximately $240,000. BlackRock Inc. bought a new position in Comstock Resources in the 2nd quarter valued at $176,583,000. Deutsche Bank AG purchased a new position in shares of Comstock Resources during the 2nd quarter valued at $1,343,000. Perigon Wealth Management LLC purchased a new position in shares of Comstock Resources during the 2nd quarter valued at $180,000. Finally, Simplicity Wealth LLC bought a new position in shares of Comstock Resources in the second quarter worth $222,000. Institutional investors own 36.13% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages recently issued reports on CRK. Mizuho set a $19.00 price objective on Comstock Resources in a research report on Monday, August 10th. Williams Trading set a $16.00 target price on Comstock Resources in a research report on Thursday, May 14th. The Goldman Sachs Group decreased their target price on Comstock Resources from $13.00 to $10.00 and set a “sell” rating on the stock in a research note on Tuesday, June 30th. Zacks Research cut Comstock Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, July 16th. Finally, UBS Group reaffirmed a “sell” rating and issued a $13.00 price target (down from $17.00) on shares of Comstock Resources in a report on Monday, May 11th. Six research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $15.00.
Comstock Resources Price Performance
CRK stock opened at $13.51 on Tuesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.48 and a quick ratio of 0.48. Comstock Resources, Inc. has a one year low of $12.12 and a one year high of $28.10. The stock has a market cap of $3.97 billion, a PE ratio of 7.59 and a beta of 0.13. The firm has a 50 day simple moving average of $13.53 and a two-hundred day simple moving average of $16.57.
Comstock Resources (NYSE:CRK – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.03 EPS for the quarter, topping analysts’ consensus estimates 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 23.31% and a return on equity of 4.12%. The business’s revenue for the quarter was down 24.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.13 EPS. On average, analysts predict that Comstock Resources, Inc. will post 0.48 EPS for the current fiscal year.
About Comstock Resources
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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