Comstock Resources, Inc. (NYSE:CRK) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC increased its holdings in shares of Comstock Resources, Inc. (NYSE:CRK) by 2,291.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 138,373 shares of the oil and gas producer’s stock after purchasing an additional 132,587 shares during the quarter. GAMMA Investing LLC’s holdings in Comstock Resources were worth $2,815,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRK. VSM Wealth Advisory LLC acquired a new stake in Comstock Resources during the 4th quarter worth approximately $27,000. Sterling Capital Management LLC grew its position in Comstock Resources by 804.6% in the fourth quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer’s stock valued at $54,000 after acquiring an additional 2,631 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Comstock Resources by 225.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock valued at $64,000 after acquiring an additional 2,326 shares in the last quarter. Quarry LP acquired a new stake in Comstock Resources in the fourth quarter valued at approximately $70,000. Finally, Dark Forest Capital Management LP acquired a new stake in Comstock Resources in the fourth quarter valued at approximately $194,000. Institutional investors and hedge funds own 36.13% of the company’s stock.

Analysts Set New Price Targets

CRK has been the subject of several recent research reports. Mizuho increased their price objective on shares of Comstock Resources from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Wall Street Zen raised shares of Comstock Resources to a “sell” rating in a research report on Thursday, May 8th. Piper Sandler reaffirmed an “underweight” rating and issued a $12.00 price objective (up previously from $6.00) on shares of Comstock Resources in a research report on Tuesday, May 13th. Morgan Stanley reaffirmed a “cautious” rating and issued a $22.00 price objective (up previously from $21.00) on shares of Comstock Resources in a research report on Wednesday, March 26th. Finally, UBS Group initiated coverage on shares of Comstock Resources in a research report on Tuesday, April 22nd. They issued a “neutral” rating and a $19.00 price objective for the company. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $17.15.

Comstock Resources Stock Performance

Comstock Resources stock opened at $25.62 on Friday. The stock has a market cap of $7.50 billion, a P/E ratio of -33.71, a price-to-earnings-growth ratio of 1.65 and a beta of 0.32. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27. The stock has a 50 day moving average of $21.58 and a 200-day moving average of $19.46. Comstock Resources, Inc. has a 52 week low of $7.74 and a 52 week high of $25.65.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The firm had revenue of $512.85 million for the quarter, compared to analysts’ expectations of $408.99 million. During the same period last year, the business posted ($0.03) earnings per share. The firm’s revenue for the quarter was up 52.7% on a year-over-year basis. On average, analysts expect that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.

About Comstock Resources

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.