Comstock Resources, Inc. $CRK Shares Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio raised its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 2,433.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,030 shares of the oil and gas producer’s stock after purchasing an additional 51,897 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Comstock Resources were worth $1,495,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CRK. Invesco Ltd. increased its stake in Comstock Resources by 79.9% during the 1st quarter. Invesco Ltd. now owns 1,155,680 shares of the oil and gas producer’s stock valued at $23,507,000 after purchasing an additional 513,190 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Comstock Resources by 67.4% during the 1st 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. Woodline Partners LP acquired a new position in Comstock Resources during the 1st quarter valued at approximately $8,719,000. Nuveen LLC acquired a new position in Comstock Resources during the 1st quarter valued at approximately $5,127,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Comstock Resources during the 1st quarter valued at approximately $4,043,000. Institutional investors and hedge funds own 36.13% of the company’s stock.

Analyst Upgrades and Downgrades

CRK has been the topic of several recent research reports. Roth Capital downgraded shares of Comstock Resources from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $18.00 to $12.00 in a report on Monday, August 18th. Piper Sandler dropped their price objective on shares of Comstock Resources from $12.00 to $10.00 and set an “underweight” rating on the stock in a report on Monday, August 4th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Comstock Resources in a report on Saturday, September 27th. Morgan Stanley dropped their price objective on shares of Comstock Resources from $21.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, August 4th. Finally, Mizuho dropped their price objective on shares of Comstock Resources from $27.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, September 15th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $18.73.

Comstock Resources Stock Performance

NYSE:CRK opened at $21.41 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.36 and a current ratio of 0.36. The company has a fifty day moving average of $17.09 and a two-hundred day moving average of $20.62. The stock has a market capitalization of $6.27 billion, a PE ratio of -89.19 and a beta of 0.19. Comstock Resources, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $31.17.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Wednesday, July 30th. The oil and gas producer reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. The company had revenue of $470.26 million during the quarter, compared to analysts’ expectations of $431.82 million. Comstock Resources had a negative net margin of 5.05% and a positive return on equity of 3.65%. The firm’s revenue for the quarter was up 90.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.20) earnings per share. As a group, research analysts forecast that Comstock Resources, Inc. will post 0.54 earnings per share 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.