Great Hill Capital LLC grew its position in shares of Comstock Resources, Inc. (NYSE:CRK – Free Report) by 26.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 572,965 shares of the oil and gas producer’s stock after acquiring an additional 119,036 shares during the quarter. Comstock Resources makes up 0.4% of Great Hill Capital LLC’s holdings, making the stock its 19th largest holding. Great Hill Capital LLC’s holdings in Comstock Resources were worth $7,059,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Wedmont Private Capital increased its position in Comstock Resources by 13.8% during the third quarter. Wedmont Private Capital now owns 20,123 shares of the oil and gas producer’s stock valued at $248,000 after acquiring an additional 2,444 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Comstock Resources by 44.8% in the second quarter. Envestnet Asset Management Inc. now owns 26,880 shares of the oil and gas producer’s stock valued at $401,000 after acquiring an additional 8,315 shares during the period. State Street Corp boosted its position in Comstock Resources by 2.7% in the second quarter. State Street Corp now owns 5,336,565 shares of the oil and gas producer’s stock worth $79,622,000 after purchasing an additional 141,295 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in Comstock Resources in the second quarter worth about $264,000. Finally, Integrated Wealth Concepts LLC purchased a new position in Comstock Resources in the second quarter worth about $68,000. 36.13% of the stock is currently owned by hedge funds and other institutional investors.
Comstock Resources Stock Performance
NYSE:CRK opened at $14.09 on Wednesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.48 and a current ratio of 0.48. The stock has a 50-day simple moving average of $13.93 and a two-hundred day simple moving average of $14.38. The firm has a market capitalization of $4.14 billion, a PE ratio of 33.12 and a beta of 0.52. Comstock Resources, Inc. has a 52-week low of $12.12 and a 52-week high of $28.10.
Comstock Resources (NYSE:CRK – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $353.28 million for the quarter, compared to analysts’ expectations of $419.22 million. Comstock Resources had a return on equity of 4.12% and a net margin of 23.31%. The business’s quarterly revenue was down 24.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.13 EPS. Analysts forecast that Comstock Resources, Inc. will post 0.31 EPS for the current year.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the company. Scotiabank started coverage on Comstock Resources in a research note on Wednesday, October 14th. They set an “underperform” rating and a $11.00 price target for the company. Zacks Research cut shares of Comstock Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 16th. BMO Capital Markets reissued a “market perform” rating and issued a $17.00 price objective (up from $13.00) on shares of Comstock Resources in a report on Wednesday, September 2nd. Citigroup dropped their price objective on shares of Comstock Resources from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, July 20th. Finally, Mizuho cut their target price on shares of Comstock Resources from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, October 16th. Ten analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, Comstock Resources has an average rating of “Reduce” and an average target price of $15.00.
Read Our Latest Stock Analysis on Comstock Resources
About Comstock Resources
Comstock Resources, Inc is an independent energy company engaged in the acquisition, development, production and exploration of oil and natural gas properties. The company’s operations are focused primarily on unconventional resources, with natural gas serving as its principal product.
Comstock’s core asset base is concentrated in the Haynesville and Bossier shale formations in East Texas and North Louisiana. These regions are among the major natural gas-producing areas in the United States, and the company uses horizontal drilling and hydraulic fracturing to develop its properties.
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